Cortina/North Bay Agreement Terminated

December 29, 2009

Earthworks Industries Inc. (the “Company”) has received notice from North Bay Corporation of Santa Rosa, California that it will not maintain or exercise its option to acquire 50% of the issued shares of the Company’s subsidiary, Cortina Integrated Waste Management Inc. (“CIWM”), nor continue funding CIWM’s development of its waste management facility in Colusa County, California. The deadline for the exercise of the option is December 31, 2009. As a result, the Company will continue with the development of the project, through CIWM, without any further involvement of North Bay.

Pursuant to the terms of existing agreements between the Company and North Bay the approximately $4,000,000 which has been advanced by North Bay to fund the development of the Project will be repayable by CIWM to North Bay, together with 7% P/A non-compounded interest, by December 23, 2011.


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