Mr. Edwin Tam reports

PETROX RESOURCES ANNOUNCES THE PROPOSED ACQUISITION OF THE CORPORATION

Petrox Resources Corp. has entered into a conditional and non-binding letter of intent that contemplates an arm's-length business combination with a private entity from the People's Republic of China. It is currently contemplated that the transaction will involve the acquisition of all of the issued and outstanding common shares of Petrox at a price of 30 cents per share. Upon completion of the transaction, it is expected that the Petrox shares will be delisted from the TSX Venture Exchange. There is no assurance that a binding agreement will be achieved or that the proposed transaction will be completed as proposed or at all.

The transaction is subject to a number of conditions precedent including, without limitation, completion of satisfactory due diligence, receipt of all required corporate and regulatory approvals (including the approval of the TSX-V), Petrox entering into a definitive agreement for the acquisition of the oil-and-gas-producing properties as announced in Petrox's news release of July 8, 2014, and the negotiation and execution of transaction documents for the transaction on or before Sept. 2, 2014.

Trading of the Petrox shares has been halted and will not resume until certain TSX-V requirements have been satisfied. Petrox will issue a further new release as soon as further details are available regarding the resumption of trading and the transaction.

The target closing date for the proposed transaction will be some time in the fall of 2014.

We seek Safe Harbor.