STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) is pleased to
announce that it has entered into an Acquisition Agreement of Purchase and Sale
(the "Acquisition Agreement") to acquire from an arm's length vendor a
recreational vehicle storage facility located in Saskatoon, Saskatchewan known
as RV Storage of Saskatoon. The aggregate purchase price is $1.625 million
(subject to customary adjustments). The Acquisition Agreement is subject to a
number of conditions, including but not limited to: (i) the completion of due
diligence and environmental investigations with respect to the property that
must be satisfactory to StorageVault in its sole discretion, (ii) financing,
(iii) approval by the board of directors of StorageVault to be given or withheld
in its sole discretion; (iv) if applicable, approval of the shareholders of
StorageVault; and (v) subdivision of the lands pertaining to the facility.


There can be no assurance that the conditions under the Acquisition Agreement
will be satisfied, or that the acquisition will be successfully completed. If
all conditions under the Acquisition Agreement are satisfied, the acquisition is
scheduled to close on or before March 15, 2011.


The purchase price payment terms for the acquisition will be a combination of a
$150,000 initial refundable deposit, a second $150,000 deposit upon removal of
due diligence closing conditions, and a final cash payment of $1,325,000 at
closing. StorageVault intends to finance the equity portion of the acquisition
from the proceeds of a previously completed preferred share offering.


About RV Storage of Saskatoon

RV Storage of Saskatoon has capacity for the storage of approximately 700
vehicle units at the facility comprising approximately 180,000 square feet of
rentable storage area on approximately 5.5 acres of land. The facility is
located in Saskatoon, Saskatchewan. StorageVault intends to relocate and combine
its PUPS portable storage business presently operating out of a leased location
in Saskatoon with RV Storage of Saskatoon.


About StorageVault Canada Inc.

StorageVault currently owns and operates Trans Can Mini-Stor in Regina, Kenaston
Self Storage in Winnipeg, B&B Self Storage in Cambridge, Parksville Mini Storage
in the Regional District of Nanaimo and Canadian PUPS in Saskatoon. Both Trans
Can Mini-Stor and Kenaston Self Storage are fixed unit storage facilities
operating in conjunction with high margin Canadian PUPS portable storage
franchises at each location. StorageVault currently operates Canadian PUPS in
Saskatoon as a stand-alone portable storage franchise. StorageVault also manages
six self-storage facilities in southern Ontario and intends to continue to grow
its business through the acquisition of additional self-storage properties, and
organically as master franchisee through the development of Canadian PUPS
portable storage facilities in Canada. StorageVault intends to launch its PUPS
portable storage business at both B&B Self Storage and Parksville Mini Storage
in the spring of 2011.


Forward-Looking Information: This news release may contain certain
forward-looking information. All statements included herein, other than
statements of historical fact, is forward-looking information and such
information involves various risks and uncertainties. There can be no assurance
that such information will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such information. A
description of assumptions used to develop such forward- looking information and
a description of risk factors that may cause actual results to differ materially
from forward-looking information can be found in StorageVault's disclosure
documents on the SEDAR website at www.sedar.com.
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