Leucrotta Exploration Corporate Update

CALGARY, ALBERTA--(Marketwired - May 28, 2015) - Leucrotta Exploration Inc. ("Leucrotta" or the "Company") (TSX VENTURE:LXE) is pleased to announce a corporate update following the previously announced sale of a portion of its Northeast British Columbia assets. The assets were sold for approximately $80 million and has left the Company in a strong financial position and with significant flexibility to execute its business plan on its remaining 172 net sections of Montney in the Greater Dawson Area of Northeast British Columbia.

Leucrotta currently has the following characteristics:

• Approximately $100 million of positive working capital comprised of $88 million cash plus $12 million of new equipment held for sale
• No debt and an undrawn $10 million credit facility
• Approximately 670 boepd of production (80% gas)
• Approximately 1,800 boepd of production (33% light oil and ngls) that will be placed on production over the course of the next 12 months
• 15 million boe of liquids-rich Montney proved plus probable reserves booked based upon on an independent engineering evaluation prepared by GLJ Petroleum Consultants Ltd. dated effective December 31, 2014 (only 3 of 172 sections booked)
• 70 liquids-rich Montney development locations identified (15 booked) on 9 Montney development sections
• 163 additional sections of Montney prospective lands in Greater Dawson area with no reserves currently assigned and potential for over 500 Montney locations
• Recent Montney light oil discovery with an estimated 26 million barrels OOIP and 36 billion cubic feet of OGIP per section (no reserves booked as of December 31, 2014)
• Recent Baldonnel light oil discovery with approximately 15 mmbbls of OOIP per section; Leucrotta holds 45 sections of land on the play with no reserves currently booked as of December 31, 2014
• 25 mmcf/d sweet gas plant (100% owned) with a connection to Alliance Pipeline and firm transportation for 5 years

Strategic Plan