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June 21, 2007 VANCOUVER, BC — Lexaria Corp. (OTC BB: LXRA) (the "Company" or "Lexaria") is very pleased to announce it has negotiated the acquisition of an additional 10% interest in the Mississippi Area of Mutual Interest (AMI). As a result, Lexaria now holds a 50% gross interest in the balance of the existing AMI with another 43 wells to be drilled. Lexaria originally began its participation in Mississippi with a 20% interest in a 10-well drilling program, which was subsequently expanded to 12 wells. It then increased its participation to a 40% interest in a 50-well AMI, of which 7 wells have been drilled to date. Through this latest interest acquisition, Lexaria has now expanded its participation to 50% of the remaining 43 wells within this AMI. Lexaria has been informed by its Operator that it expects to begin drilling its next series of wells in July, and results will be released as available. Additionally, the F-12 well which was drilled in December, 2006, is expected to be flow tested in July. About Lexaria Corp. Lexaria Corp. is an oil & gas company active in Mississippi, Oklahoma and in Alberta, Canada. The main focus currently is Mississippi, where it holds between 20% and 40% gross interests in various gas and oil projects. Lexaria routinely evaluates additional oil & gas projects and corporate opportunities. Contact: Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. |