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VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2010) - Lynden Energy Corp. (TSX VENTURE:LVL) reports that its subsidiary, Lynden USA Inc., has entered into a Participation Agreement to acquire a 50% interest in an option to acquire oil and gas leases covering 101,495 gross and net acres in Coke, Mitchell, and Sterling counties of West Texas.

All acreage is contained within a historical ranch, whose lands were recently optioned by CrownRock LP ("CrownRock"), Lynden's partner in an existing project in West Texas. The ranch lies to the immediate west of the Jameson oil field and is approximately 10 miles south-east of the Iatan oil field.

The project will be focused on Permo-Pennsylvanian-aged detrital targets along the eastern shelf of the Permian Basin where there are numerous opportunities across several pay zones, all of which are shallower than 8,000 feet in drilling depth. Management believes the opportunity to acquire an interest in such a large and contiguous land package in the Permian Basin is unique.

Locations for two initial wells have been selected, and the wells are scheduled to be spudded in June 2010. The first location is on the west side of the ranch and is less than 2 miles from a well that has produced in excess of 190,000 barrels of oil equivalent. The second location is on the eastern side of the property, approximately 4 miles north-west of the Jameson field. The locations are approximately 14 miles apart.

Pursuant to the Participation Agreement with CrownRock, Lynden will acquire an undivided 50% interest in CrownRock's option to acquire a 100% working interest in the 101,495 acres, subject to a 22.5% royalty to the mineral rights owners. Lynden can earn its interest in the option by paying 100% of the costs to drill and complete the first two wells (up to US$2,400,000) and by making additional payments to CrownRock totaling approximately US$3,000,000. The option can be converted into a lease(s) through additional payments to the mineral rights owners. The option has an initial term of 18 months with provisions to extend the option an additional 18 months.

The project will be operated by CrownQuest Operating LLC of Midland, Texas.

ON BEHALF OF THE BOARD OF DIRECTORS

LYNDEN ENERGY CORP.

Colin Watt, President and CEO

NI 51-101 requires that we make the following disclosure: we use oil equivalents (boe) to express quantities of natural gas and crude oil in a common unit. A conversion ratio of 6 mcf of natural gas to 1 barrel of oil is used. Boe may be misleading, particularly if used in isolation. The conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

FORWARD-LOOKING STATEMENTS DISCLAIMER: This news release contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such statements, although considered accurate at the time of preparation, may prove incorrect, and the actual results may vary materially from the statements made herein. Expectations of spudding the two initial wells in June 2010 and expected timelines relating to oil and gas operations are subject to the customary risks of the oil and gas industry. For a more detailed description of these risks, and others, see [ www.lyndenenergy.com/riskfactors.html ].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.