CFZ Cathay Forest Products Corp

Cathay Forest Products Corp. ("Cathay Forest" or the "Company") (TSX VENTURE: CFZ) announces that the cease trade order that was issued by the Ontario Securities Commission (the "OSC") on February 1, 2011 has expired. The Company also expects that the cease trade order issued on the same date by the British Columbia Securities Commission (the "BCSC") will be revoked and that trading in the common shares of the Company will resume shortly thereafter.

The cease trade orders had been imposed by the OSC and the BCSC for failure by the Company to timely file its interim financial statements and accompanying management's discussion and analysis and related CEO and CFO certifications for the period ended September 30, 2010 (collectively the "2010 Third Quarter Financial Statements").

Cathay Forest filed the 2010 Third Quarter Financial Statements on February 4, 2011. The 2010 Third Quarter Financial Statements can be reviewed on SEDAR under the Company's profile at www.sedar.com.

Cathay Forest will also hold an investors conference call to further discuss its 2010 Third Quarter Financial Statements on February 22, 2011 at 9:30 AM EST. To participate, please dial 416-340-9432 or 1 877-440-9795 for North America toll-free access. Alternatively, to listen to a replay of the conference call, dial 905-694-9451 (Toll-Free: 1-800-408-3053), and enter pass code 8270083. The replay of the conference call will be available for 14 days.

About Cathay Forest Products

Cathay Forest is a forest products company that manages approximately 1,000,000 hectares of standing timber properties and fast-growth, high-yield poplar plantations in China and Russia. Cathay Forest is building a world-class forest products company through a customer base that includes the domestic Chinese pulp and paper industry and other wood products customers in the Japanese market.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Cathay Forest. Actual results and future events could differ materially from those anticipated in such statements. Except as required under applicable securities laws, Cathay Forest assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release.

Contacts: Cathay Forest Products Corp. Luc Perron, CA Chief Financial Officer (416) 226-7269 luc.perron@cathayforest.com Cathay Forest Products Corp. John Duncanson, RPF Interim Chief Executive Officer & Chief Operating Officer (416) 531-3680 john.duncanson@cathayforest.com