Cathay Forest delays filing financial statements

TORONTO, ON -- Cathay Forest Products Corp. ("Cathay Forest" or the "Company") (TSX VENTURE:CFZ) announces that it will not be in a position to file its consolidated audited financial statements as at and for the year ended December 31, 2010, accompanying management's discussion and analysis, related CEO and CFO certification and Annual Information Form for the year ended December 31, 2010 within the prescribed 120 day period as prescribed under National Instrument 51-102 and National Instrument 51-109, respectively (the "2010 Financial Filings").

The delay stems from the following:
* Forestry certificates for the Shandong plantation
* Deposits related to properties in Guizhou and Jiangxi provinces
* Investment in Eco-Energy China Group Inc.

Posted by Molly Keith

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