10/01/2008

Clearford Announces Incentive Stock Option Grants

Ottawa, Ontario – (October 1, 2008) – Clearford Industries Inc. (“Clearford”, TSX-V: CLI) today announced that on September 4, 2008 its Board of Directors, under the terms of Clearford’s stock option plan, approved the grant to certain of its Officers and Directors of options to purchase up to 1,521,185 common shares of Clearford.  The exercise prices for these options are as follows:  250,000 options at $0.25 per share; 1,221,185 options at $0.26 per share; and 50,000 options at $0.40 per share.  The options vest over a period of up to three years from the date of grant and have an expiry date of September 14, 2013.

Forward-Looking Statements
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). All statements other than statements of historical fact contained herein are forward-looking statements, including, without limitation, statements regarding the impact of the transaction on the Clearford financial performance and statements regarding the business strategy, plans and objectives of or involving Clearford or the businesses in which they have invested. Prospective investors can identify many of these statements by looking for words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

By their nature, forward-looking statements require assumptions and are subject to inherent risks and uncertainties, including those discussed herein. There is significant risk that forward-looking statements will not prove to be accurate. You are cautioned not to place undue reliance on forward-looking statements made herein because a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.  Except as expressly required by applicable securities law we disclaim any intention and assure no obligation to update or revise any forward looking statements whether as a result of new information, future events or otherwise.

The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: industry cyclicality; competition; reduction in demand for products; collection from customers; relationships with suppliers; lack of long-term agreements; expiration of rights under license and distribution arrangements; raw material price volatility; product liability; intellectual property; reliance on key personnel; environmental; collective bargaining; interest rates; uninsured and underinsured losses; operating hazards; risks of future legal proceedings; income tax matters; leverage and restrictive covenants; credit facilities; distribution of securities; restrictions on potential growth; and effect of market interest rates on price of securities; potential dilution. You are cautioned that the foregoing list of factors is not exhaustive and that when relying on forward-looking statements to make decisions with respect to Clearford, investors and others should carefully consider these factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. More detailed information of the matters described herein is included in the public documents Clearford files from time to time with Canadian securities regulatory authorities.

About Clearford Industries Inc.
Clearford Industries Inc. operating unit, the Wastewater Systems Division, designs and implements the patented Small Bore Sewer™ (SBS™), a watertight small diameter wastewater collection system for developers, municipalities and First Nations communities who need to create, expand or upgrade their sewage systems. This solution provides servicing with superior operational and environmental performance at a significantly lower cost when compared to historic gravity sewers. With its first installation in 1989, the SBS™ has since had several installations within Canada and the U.S. For more information on Clearford Industries Inc., please visit www.clearford.com.

For more information contact:
Mr. John Kelly
President and CEO
Clearford Industries Inc.
Phone: (613) 599-6474 ext. 307
www.clearford.com