Ms. Eileen Au reports

SAN ANGELO OIL LIMITED COMPLETES $150,000 FINANCING

San Angelo Oil Ltd. has completed its previously announced non-brokered private placement of an aggregate three million units at a price of five cents per unit, for gross proceeds of $150,000. Each unit consists of one postconsolidated common share and one transferable common share purchase warrant exercisable into one additional postconsolidated common share at an exercise price of five cents per common share for a period of five years.

All securities issued in connection with this offering, and all securities issued upon exercise of those securities are subject to a four-month hold period expiring on Sept. 27, 2016, as prescribed by the TSX Venture Exchange and applicable securities laws.

The proceeds from the offering will be used for general working capital.

Pursuant to the private placement, John Proust of Vancouver, B.C., purchased one million units in consideration for $50,000. The units he acquired consist of one million common shares of the company, which represent approximately 15.40 per cent of the issued and outstanding shares on an undiluted basis, and one million warrants, which, together with the one million common shares and assuming full exercise of his warrants, represent approximately 26.69 per cent of the issued and outstanding shares on a partially diluted basis assuming that no other common shares of the company are issued. Mr. Proust did not hold any common shares or warrants of the issuer immediately before the acquisition. As a result of the foregoing acquisition (assuming full exercise of the acquired warrants), Mr. Proust would own and/or control a total of two million common shares of the company, representing 26.69 per cent of the issued and outstanding shares on a partially diluted basis, assuming no further common shares of the company have been issued.

Pursuant to the private placement, Donald Sharpe of Vancouver, B.C., purchased one million units in consideration for $50,000. The units he acquired consist of one million common shares of the company, which represent approximately 15.40 per cent of the issued and outstanding shares on an undiluted basis, and one million warrants, which, together with the one million common shares and assuming full exercise of his warrants, represent approximately 26.69 per cent of the issued and outstanding shares on a partially diluted basis assuming that no other common shares of the company are issued. Mr. Sharpe did not hold any common shares or warrants of the issuer immediately before the acquisition. As a result of the foregoing acquisition (assuming full exercise of the acquired warrants), Mr. Sharpe would own and/or control a total of two million common shares of the company, representing 26.69 per cent of the issued and outstanding shares on a partially diluted basis, assuming no further common shares of the company have been issued.

Pursuant to the private placement, 676541 B.C. Ltd. (a company controlled by Brad Windt) of Vancouver, B.C., purchased one million units in consideration for $50,000. As a result, Mr. Windt acquired ownership and/or control of one million common shares of the company, which represent approximately 15.40 per cent of the issued and outstanding shares on an undiluted basis, and one million warrants, which, together with the one million common shares and assuming full exercise of his warrants, represent approximately 26.69 per cent of the issued and outstanding shares on a partially diluted basis assuming that no other common shares of the company are issued. Mr. Windt did not hold any common shares or warrants of the issuer immediately before the acquisition. As a result of the foregoing acquisition (assuming full exercise of the acquired warrants), Mr. Windt would own and/or control a total of two million common shares of the company, representing 26.69 per cent of the issued and outstanding shares on a partially diluted basis assuming that no further common shares of the issuer have been issued.

Mr. Proust, Mr. Sharpe and 676541 B.C. acquired the units for investment purposes, and have no present intention to acquire further securities of the company, although they may in the future participate in financings and/or acquire or dispose of securities of the company in the market, privately or otherwise, as circumstances or market conditions warrant. The units were issued to Mr. Proust, Mr. Sharpe, and 676541 B.C. in reliance upon the prospectus exemption in Section 2.3 of National Instrument 45-106 (prospectus exemptions) on the basis that they meet the criteria of an accredited investor (as defined in National Instrument 45-106).

This information regarding ownership of common shares and warrants is being issued pursuant to Multilateral Instrument 62-103, and a report respecting the above private placement will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval and will be available for viewing at SEDAR or by contacting San Angelo Oil at 604-609-6131.

We seek Safe Harbor.