Leucrotta Exploration to Trade on TSX Venture Exchange

CALGARY, ALBERTA--(Marketwired - Aug. 18, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Leucrotta Exploration Inc. ("Leucrotta") (TSX VENTURE:LXE) is pleased to announce that it has received approval for listing of its common shares on the TSX Venture Exchange (the "TSXV") under the symbol "LXE" and the common share purchase warrants of Leucrotta under the symbol "LXE.WT". Each full warrant allows the security holder to purchase one additional Leucrotta share at an exercise price of $1.70 per share until September 5, 2014, at which point the warrants will expire and be delisted. Both the common shares and warrants of Leucrotta are anticipated to begin trading when the markets open on August 19, 2014.

Leucrotta is a Montney focused producer with lands located in the Dawson-Sunrise area in Northeast British Columbia.

Leucrotta Exploration Inc. has the following characteristics:

• 2,300 boepd located exclusively at Dawson-Sunrise area;
• 100% working interest gas plant with capacity of 20 mmcf/d (to be expanded to 60 mmcf/d during 2015);
• Alliance meter station with current capacity of 63 mmcf/d;
• 100,400 gross (94,100 net) acres of land inclusive of 50,700 (45,800 net) acres of Montney lands in the Dawson-Sunrise area;
• Over 80 development locations identified with an estimated IP30>1,000 boepd per well and estimated IRRs in excess of 150%;
• Over 200 possible additional locations identified on LXE lands in the Dawson-Sunrise area
• Estimated cash of $75 million (assuming all LXE warrants are fully exercised by September 5, 2014 which accounts for $36 million in proceeds (there is no assurance that the LXE warrants will be exercised in full or in part) and the closing of the previously announced insider private placement for $13 million in proceeds, as described below); and
• 161 million LXE basic shares (176 million fully-diluted) assuming the above noted warrants are exercised and the insider private placement is completed.

Management of Leucrotta includes Rob Zakresky (President & CEO), Terry Trudeau (VP Operations & COO), Nolan Chicoine (VP Finance & CFO), Rick Sereda (Sr. VP Exploration), Helmut Eckert (VP Land), and Peter Cochrane (VP Engineering).