FAST1™ is the most rapid, reliable and safe alternative to conventional IV infusion, providing lifesaving vascular access for fluid and drug resuscitation in shock and trauma victims.

“We’ve enjoyed considerable success commercializing FAST1™ for use on adult populations internationally, with six consecutive quarters of strong sustained growth in revenue from product sales and profitability. As a result of the expanded market clearance in the US, Canada and Europe, we now look forward to providing life-saving technology to assist a broader demographic population ranging from 12 years of age through adulthood,” said David Christie, President and Chief Executive Officer. “FAST1™ is now the only single IO product cleared for use in both adolescents and adults, increasing the size of our markets and providing greater access for young people in their teenage years to Pyng’s award-winning emergency medical technology.”

Pyng Medical received regulatory clearance from both the US FDA and Health Canada for expanded use of the FAST1™ through a parallel expedited review process, each completed in less than one month. As a result, the Company’s lead clinical product will now be available for use on patients as young as 12 years of age throughout the US, Canada and EU.

About Pyng Medical Corp.
Pyng Medical Corp. is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from LifeSciences British Columbia for its sustained achievements in commercializing the Company’s proprietary FAST1™ Intraosseous Infusion System. The Company was also selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

“We are pleased to achieve sustained growth exceeding previous guidance as we continue ramping up sales of the FAST1™, the world’s leading sternal IO system,” said David Christie, President and CEO. “We also look forward to enhancing our product portfolio with complimentary technologies to build upon our leadership in resuscitative care.”

Pyng’s balance sheet remains strong with $1,813,494 in working capital, no long-term debt and an unutilized line-of-credit for $500,000. Cash flow from operations was $305,091 for the second quarter.

Full financial results for second quarter fiscal 2008 are available on SEDAR.

About Pyng Medical Corp.

Pyng Medical Corp. is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng has received the exclusive 2008 Medical Device Company of the Year Award from LifeSciences British Columbia for its sustained achievements in commercializing the Company’s proprietary FAST1™ Intraosseous Infusion System. The Company was also selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

Pyng Medical Declared 2008 Medical Device Company of the Year

On March 14, Pyng was notified that it had received the exclusive 2008 Medical Device Company of the Year Award from LifeSciences British Columbia for its sustained achievements in commercializing the Company’s proprietary FAST1™.

The Company was well represented at the awards ceremony held in Vancouver on April 10 with more than 600 people in attendance, including BC Premier Gordon Campbell and senior executives from the investment community and biotechnology sector.

David Christie, President and CEO, delivered a gracious acceptance speech acknowledging the collective efforts of the entire team at Pyng and external stakeholders. He indicated that the award recognition was testament to both the value of the technology and caliber of the team. On a personal note, David said he found it exceptionally rewarding to be commercializing locally developed and world-class technology that is currently saving lives throughout the world.

In closing, he described it as a distinct honor for Pyng to receive independent validation as the 2008 Medical Device Company of the Year, and reaffirmed his commitment to maintain the Company’s market position as the world’s leading provider of life-saving sternal intraosseous infusion systems.

LifeSciences BC is the premier association representing approximately 90 BC-based biotechnology and medical device companies comprising the 7th largest and fastest growing cluster in North America.

Northern Securities Initiates Research Coverage on Pyng

On March 26, Elvis Picardo, Special Situations Analyst with Northern Securities Inc. initiated research coverage on Pyng Medical Corp. with a bullish recommendation. Independent analyst coverage provides significant exposure for the Company within the investment community. For a copy of the research report please contact 604-688-1932.

PYNG Enhances Strong Patent Portfolio

During the final week of March, the Company received US patent protection for its proprietary target patch with strain relief for its unique sternal infusion tube, an integral part of the FAST1™. This patch enables the caregiver to quickly locate the infusion site and protects the patient from infection risk or disruption of the infusion tube at the sternum.

The Company continues to expand its patent portfolio with additional filings relating to FAST1™ and have also applied for trademark protection on Chest is Best™, reinforcing the benefits of rapid infusion through the unique FAST1™ sternal line.

In The News

Matters of the heart generating profits for Richmond company

Encouraged by large sales to the U.S. military, Pyng Medical is now eyeing the hospital and emergency services markets

Curt Cherewayko, April 1-7, 2008; issue 962

Pyng Medical was recently featured in Business in Vancouver, a prominent weekly business publication that boasts a weekly readership of 60,000 professionals throughout Vancouver and the Lower Mainland. To review the story, please visit http://www.pyng.com/pdf/BIV_08Apr.pdf.

Recent Annual General Meeting

On behalf of the Company’s Board and Management, it was a sincere pleasure to have the opportunity to meet all shareholders who attended the recent Annual General Meeting held in Vancouver on May 8, 2008. In terms of the formal business, thank you to all shareholders who returned their proxies and/or voted in person. All resolutions passed with majority support, and please note that the Company’s float has been subsequently reduced accordingly. The total number of issued and outstanding shares is currently 12,001,583. The total number of shares held in escrow is 2,000,000.

Further, we would like to welcome a new addition to the Company’s Board of Directors, Mr. Bob Di Silvo. Bob has spent the last twenty-five years working within the medical device industries. He is currently Chief Operating Officer, President and General Manager of Safe Life Corp, which develops, manufactures and markets Triosyn™, an antimicrobial agent used in a wide range of applications. Bob is responsible for pursuing and negotiating worldwide sales and distributorship contracts as well as facilitating the highest quality of product and customer service to ensure efficiency and maximum profit.

Previously, Bob served as Vice President for the Physio-Control division of Medtronic, the leading manufacturer of implantable biomedical devices. He had been responsible for various departments throughout his five-year tenure at Medtronic. Prior to that, Bob was Executive Vice President, The Americas, for Lumenis, Inc (formerly the Coherent Medical Group).

Upcoming Events

We are preparing to release our Q2, 2008 Fiscal Results during the first week of May and encourage you to join us for a live webcast and Company update provided by David Christie, President and CEO. The details will be available shortly on the homepage of the Company’s new website, expected to launch later this month.

As always, we encourage all shareholders to contact Pyng Medical Corp. with any questions or recommendations @ 1-800-349-7964.

“Our customers love our target patch because it makes the sternal placement of FAST1™ very quick, easy and intuitive. We are very pleased to now have this patent-protected, along with the many other unique patented features of FAST1™, which is why we continue to be the world-leaders in sternal line infusion,” said David Christie, President and Chief Executive Officer.

Pyng Medical continues to expand its patent portfolio with additional filings relating to its proprietary award-winning FAST1™ Intraosseous Infusion device. Pyng has also applied for trademark protection on Chest is Best™, reinforcing the benefits of rapid infusion through their unique FAST1 sternal line.

As part of its on-going commitment to technology innovation, Pyng Medical Corp recently released the enhanced FAST1™ system with a re-engineered infusion tube that no longer requires the use of a removal tool. The company is developing next generation intraosseous products and has filed to protect these and related inventions.

FAST1™ is the most rapid, reliable and safe alternative to conventional IV infusion providing lifesaving vascular access for fluid and drug resuscitation in shock and trauma victims. It is the only product able to rapidly deploy into the sternum allowing for delivery of life-saving fluids and drugs to the hearts in seconds.

About Pyng Medical Corp.

Pyng Medical Corporation is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Earlier this month, Pyng Medical received the exclusive 2008 Medical Device Company of the Year award from LifeSciences BC for its sustained achievements in commercializing the FAST1™. Pyng was also selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

“With five consecutive quarters of growth and profits, Pyng has made substantive progress increasing revenues from product sales while executing on an expanded business strategy aimed at facilitating adoption in new large domestic and international market opportunities including the hospital environment,” adds Christie.

As part of its on-going commitment to technology innovation, the Company is developing next generation intraosseous products and aggressively exploring acquisition and in-licensing opportunities to broaden its product portfolio with complimentary technologies. Pyng recently received US FDA market clearance and commercially launched a new and improved FAST1 system with a re-engineered infusion tube that no longer requires the use of a removal tool. Pyng also continues to expand its patent portfolio and has applied for trademark protection on Chest is Best™, reinforcing the benefits of rapid infusion through their unique FAST1 sternal line.

About LifeSciences British Columbia (formerly BC Biotech)

LifeSciences British Columbia supports and represents the biotechnology, medical device and greater life sciences community of British Columbia through leadership, advocacy and promotion of our world-class science and industry. Via active facilitation of partnering and investment into the life sciences sector, British Columbia is fast becoming a global life sciences leader. LifeSciences British Columbia is a not-for-profit, non-government, industry-funded association.

About Pyng Medical Corp.

Pyng Medical Corporation is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng was selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

At the Annual General Meeting, the shareholders approved the following resolutions:

Election of Directors

Fixed the number of Directors at six and elected the persons proposed in the Information Circular to the Company’s Board of Directors; namely, Kevin O’Neill, Michael Jacobs, David Christie, Alan Moloff, Robert Di Silvio, and Edward Bence.

Appointment of Auditors

The reappointment of Morgan & Company chartered accountants, as auditors of the Company.

Continuation and Amendment of the Share Option Plan

The amendment of the Company’s Stock Option Plan to reflect the Company’s graduation from Tier 2 to Tier 1 Issuer status.

Shareholder Rights Plan

The approval of a Shareholder Rights Plan Agreement to ensure the fair treatment of all shareholders in connection with any take-over bid for the outstanding common shares of the Company. The plan adopted by the Board of Directors on October 24, 2007, provides adequate time for shareholders and the Board to evaluate and assess a take-over bid without facing undue pressure or coercion; it also provides the Board with an opportunity to explore alternative transactions in order to maximize shareholder value.

Amendment to the Escrow Agreement

Approval was granted on a disinterested shareholder basis to adopt a new form of escrow agreement and reduce the number of escrow shares by 1,750,000. The new form of agreement will allow the remaining escrow shares to be released from escrow over time instead of on an earn out basis. The adoption of this new form of agreement and the proposed release schedule (three years), are subject to TSXV approval. The shareholders also approved a redistribution of the escrow shares such that these shares will be held by current members of the Board and Management, as well as the Company’s Founders and Co-Inventors.

About Pyng Medical Corp.

Pyng Medical Corporation is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng was selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.

Vancouver, BC - Pyng Medical Corp. (PYT: TSX .V) today announced the Company has received Special 510(K) regulatory clearance from the US Food and Drug Administration to market its new and improved version of the award-winning FAST1™ Intraosseous (IO) Infusion System throughout the US, effective immediately.

FAST1™ is the most rapid, reliable and safe alternative to conventional IV infusion providing lifesaving vascular access for fluid and drug resuscitation in shock and trauma victims. The Company’s lead clinical product has been re-engineered with a superior infusion tube that no longer requires the use of a removal tool. The product shipped to all non-FDA jurisdictions during the fourth quarter of 2007 and now begins shipment into the US.

“These improvements were implemented in direct response to feedback from Pyng’s key customers based on real life applications on the battle field and EMS environments,” said David Christie, President and CEO. “As part of our ongoing commitment to technology innovation we’ve achieved procedural efficiencies and further enhanced the ease-of-use for our market-leading FAST1™ Intraosseous Infusion System. We look forward to showcasing further developments in our next generation FASTX Sternal IO System at leading industry events later this year,” adds Christie.

About Pyng Medical Corp.

Pyng Medical Corporation is the developer and manufacturer of the proprietary, award-winning FAST1™ Intraosseous Infusion System. Pyng was selected in the “2007 TSX Venture 50″ Top 10 companies in Life Sciences based on solid financial metrics for the year ending December 31, 2006. With expanding markets in North America, Europe and Asia, the FAST1™ has worldwide application for use with hospitals, emergency medical services and military forces.