Sunshine Oilsands Ltd.

Grant of Share Options - Seite 2

Name	Number of Options Granted
Sun Kwok Ping	46,679,000
Michael Hibberd	46,679,000
Hong Luo	20,000,000
Qi Jiang	20,000,000
Qiping Men	20,000,000

The grant of Options to the Grantees has been approved by the independent non-executive directors of the Corporation and by the board of directors of the Corporation as a whole, in accordance with Rule 17.04(1) of the Listing Rules and the rules of the Share Option Scheme.

In addition, pursuant to Rule 17.04(1) of the Listing Rules and the Share Option Scheme, any grant of Options to a substantial shareholder or an independent non-executive Director, or any of their respective associates, which would result in the shares issued and to be issued upon exercise of all Options already granted and to be granted (including options exercised, cancelled and outstanding) under the Share Option Scheme or any other schemes of the Corporation to such person in the 12-month period up to and including the date of such grant (i) representing in aggregate over 0.1% of the Shares of the Corporation in issue and (ii) having an aggregate value, based on the closing price of the Shares of the Corporation at the date of each grant, in excess of HK$5 million, such further grant of options must be separately approved by shareholders in general meeting.

As the total number of Shares issued and to be issued upon exercise of the Options granted to Sun Kwok Ping who being the Executive Chairman and Executive Director and a substantial shareholder of the Corporation would in a 12-month period exceed 0.1% of the Shares in issue, the grant of Options to and acceptance thereof by Sun Kwok Ping is conditional upon the approval by the independent shareholders of the Corporation in general meeting with Sun Kwok Ping and his associate(s) (as ascribed thereto under Rule 1.01 of the Listing Rules), if any, abstaining from voting and such grant shall not take effect or be exercisable until such approval is obtained. A relevant resolution will be proposed at the next general meeting to be convened by the Corporation.