HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 9, 2012) - Shear Wind Inc. ("Shear Wind" or the "Company")(TSX VENTURE:SWX) today reported that it has filed its audited year end financial statements and related management's discussion and analysis for the full fiscal year ending August 31, 2011, with copies available on the SEDAR website ([ www.sedar.com ]). A news release issued on December 30, 2011, stated that subsequent year ends of Shear Wind will be changed to December 31 from August 31 upon certain pending approvals.

Present Holdings

Shear Wind has stakes in the following assets:

• Fitzpatrick Mountain wind facility (1.6MW)
• Glen Dhu Wind Energy Inc. (62.1MW)
• 7 development sites across Canada, and
• Site control with options and leases on all sites.

The Company continues to pursue opportunities to provide long term financial gains through operational wind energy assets.

The major accomplishment of the Company over the past two years has been the final development, approvals, signing of a 62.1 Megawatt (MW) Power Purchase Agreement, the construction and commissioning of the Glen Dhu wind generated electrical facility in Nova Scotia. Additional focus has been on project development of all of the Company's sites, and the $7 million sale of the Willowridge project in Alberta which is due for final closing in mid-January 2012. Shear Wind has delivered record energy production and revenue from the newly commissioned Glen Dhu Wind Energy site.

A summary of revenue for the year ending August 31, 2011 is as follows:

"Our shareholders can be happy about the Company's achievements of completing Glen Dhu's construction on schedule and within our construction cost budget. We are proud to say that our on-site labour force came primarily from local communities and our commitment to safety continued to keep us 'accident-free' throughout its construction," said Mike Magnus, President and CEO. "Our production and revenue have exceeded our production forecast during the first eight months of operation, and we expect that Glen Dhu will be powering reliably throughout 2012."

Highlights of fiscal 2011and year-to-date include:

• Commissioned the largest wind farm in Nova Scotia on March 31, 2011, on schedule.
• Secured ecoENERGY Incentive credits.
• Generated revenue of $7,548,879 in 2011 as compared to $322,874 the previous year.
• Submitted a proposal for an 88 Megawatt wind generation facility in Saskatchewan with SaskPower; presently awaiting a decision.
• Acquired a new development site in northern Nova Scotia at Canaan Mountain.

In preparation for the upcoming Nova Scotia Request for Proposals for Renewable Energy, Shear Wind reports the following:

Glen Dhu II site:

• Submitted Notice of Intent To Bid for a 50MWand an 80MW project extension on the Glen Dhu site.
• Completed Environmental Assessment work; site control of approximately 3600 acres; Interconnection System Impact Study agreement signed.
• Five years of wind data and Lidar data collected.

Canaan Mountain site:

• Submitted Notice of Intent to Bid for a 50MW project on the Canaan Mountain site.
• Site Control of approximately 5500 acres.
• Interconnection System Impact Study agreement signed.
• Lidar and Sodar wind data collection underway.

Outlook for 2012

Shear Wind's focus for 2012 will be to move forward on any projects that are successful in obtaining a signed power purchase agreement, and also to further develop all sites in anticipation of future opportunities to build additional generation facilities.

About Shear Wind

Founded in 2005, Shear Wind Inc. is headquartered in Halifax, Nova Scotia and is engaged in the exploration and development of renewable wind energy properties in Canada. Shear Wind is focused on building a strong company based on a secure and sustainable supply of clean wind energy. Shear Wind is committed to building shareholder value governed by environmental stewardship. Inveravante Inversiones Universales, S.L., an international corporation based in Spain, indirectly owns 62% of Shear Wind on a fully-diluted basis and 49% of Glen Dhu Wind Energy Limited Partnership through Genera Avante Holdings Canada Inc., following its investment in Shear Wind in November 2009.

Shear Wind Inc. trades on the TSX Venture Exchange under the symbol "SWX".

Please visit the Company's website at [ www.shearwind.comto ] sign up to receive Company news as well as view additional information on Shear Wind's projects.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Shear Wind in any jurisdiction.

Forward-Looking Statements / Information

This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. Actual results may differ materially from information contained in the forward-looking information as a result of a number of material factors, including failure to secure adequate financing to develop projects of Shear Wind. Shear Wind undertakes no obligation to publicly update or revise any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.

Contributing Sources

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