Mr. Phil Knoll reports

CORRIDOR ANNOUNCES THIRD QUARTER RESULTS

Corridor Resources Inc. has released its third quarter financial results.

The table provides a summary of Corridor's financial and operating results for the three and nine months ended Sept. 30, 2013, with comparisons to the three and nine months ended Sept. 30, 2012. Corridor's financial statements, and management's discussion and analysis for the third quarter have been filed on SEDAR and are available on Corridor's website.

                        SELECTED FINANCIAL INFORMATION
                       (In thousands, except per share)

                                    Three months ended    Nine months ended
                                              Sept. 30,            Sept. 30,
                                       2013       2012       2013      2012

Sales                             $   3,405  $   2,969  $  15,532 $   9,833
Net income (loss)                 $  (1,036) $  (1,777) $   1,863 $  (5,866)
Net income (loss) per share --
basic and diluted                 $  (0.012) $  (0.020) $   0.021 $  (0.066)
Cash flow from operations         $     859  $     630  $   7,823 $   2,024
Capital expenditures              $     180  $     928  $   1,282 $   2,568
Total assets                      $ 158,419  $ 198,100  $ 158,419 $ 198,100

Highlights

• Natural gas sales for third quarter 2013 increased to $3,041,000 from $2,616,000 for third quarter 2012 due to the increase in the average natural gas sales price to $4.23/thousand standard cubic feet in third quarter 2013 from $3.51/thousand standard cubic feet in third quarter 2012, which increase was partially offset by the decrease in the average daily natural gas production to 7.8 million standard cubic feet per day in third quarter 2013 from 8.1 million standard cubic feet per day in third quarter 2012.
• Corridor's cash flow from operations for the nine months ended Sept. 30, 2013, increased to $7,823,000 from $2,024,000 for the nine months ended Sept. 30, 2012, due primarily to higher natural gas sales. As at Sept. 30, 2013, Corridor had cash and cash equivalents of $15.24-million, working capital of $16.19-million and no outstanding debt.
• Corridor's netback for the nine months ended Sept. 30, 2013, increased to $3.96/thousand standard cubic feet from $1.38/thousand standard cubic feet for the nine months ended Sept. 30, 2012, primarily as a result of higher natural gas sales prices in the New England market.
• During the quarter, Corridor began to sell its natural gas production using the Algonquin city gate pricing point instead of the Dracut pricing point as the Dracut sales hub is no longer actively traded. Corridor expects that natural gas prices, net of the additional transportation charge, will be representative of Boston market prices, which are expected to continue to be strong compared with Nymex.
• Subsequent to the quarter-end, the government of New Brunswick introduced a new two-tier royalty regime which is expected to become effective in 2014. The regime proposes a change in the basic royalty payable from the existing 10 per cent to the greater of a 4-per-cent basic royalty calculated on the wellhead price and a 2-per-cent minimum royalty calculated on gross revenues. The regime also introduces a royalty payable of 25 per cent on the economic rent of a project which becomes effective after natural gas revenues have exceeded all costs.
• Subsequent to the quarter-end, Corridor entered into a forward sale agreement from Nov. 1, 2013, to March 31, 2014, for an average of three million British thermal units per day of Corridor's production at a price of $9.03 (U.S.)/thousand British thermal units.
• Corridor continues to have discussions with various industry participants with a view to reaching joint venture agreements in respect of Corridor's three high-impact exploration prospects (Frederick Brook shale gas prospect, Macasty Formation unconventional oil prospect on Anticosti Island and Old Harry conventional hydrocarbon prospect).

"We are pleased with Corridor's 2013 results to date and encouraged by promising netbacks due to the higher premiums achieved in our New England market, as evidenced by our recently announced forward sale agreement. Subject to certain regulatory approvals and equipment availability, we intend to proceed with our previously announced 2014 drilling program at McCully," said Phil Knoll, president and chief executive officer of Corridor Resources. "Corridor views New Brunswick's recent announcement introducing a new royalty regime as encouraging; the regime provides greater clarity and also appears competitive with other jurisdictions, based on analyses to date. We are hopeful that the new royalty regime will encourage additional investment in the development of natural gas production from Corridor's Frederick Brook shale."

                      THIRD QUARTER 2013 NETBACK ANALYSIS
                       (In thousands, except where noted)

                                      Three months ended   Nine months ended
                                                Sept. 30,           Sept. 30,
                                          2013      2012      2013      2012

Natural gas sales                     $  3,041  $  2,616  $ 14,505  $  8,741
Royalty expense                              -         -       493         8
Transportation expense                     961       923     2,826     3,037
Production expense                         902       766     2,328     2,267
Netback                               $  1,178  $    927  $  8,858  $  3,429
Natural gas production (mmscf)             718       745     2,233     2,475
Natural gas production per day
(mmscfpd)                                  7.8       8.1       8.2       9.0
Natural gas sales ($/mscf)            $   4.23  $   3.51  $   6.49  $   3.53
Royalty expense ($/mscf)                     -         -      0.22         -
Transportation expense ($/mscf)           1.34      1.24      1.27      1.23
Production expense ($/mscf)               1.26      1.03      1.04      0.92
Netback ($/mscf)                      $   1.63  $   1.24  $   3.96  $   1.38

Natural gas sales increased to $3,041,000 in third quarter 2013 from $2,616,000 in third quarter 2012 due to the increase in the average natural gas sales price to $4.23/thousand standard cubic feet in third quarter 2013 from $3.51/thousand standard cubic feet in third quarter 2012, which increase was partially offset by the decrease in the average daily natural gas production to 7.8 million standard cubic feet per day in third quarter 2013 from 8.1 million standard cubic feet per day in third quarter 2012. The decrease in natural gas production in third quarter 2013 as compared with third quarter 2012 was not as significant as the decrease experienced in first quarter 2013 or second quarter 2013 as Corridor had shut in four wells during third quarter 2012. In addition, Corridor completed its annual shutdown at the McCully field during the quarter in less time than in third quarter 2012.

Transportation expense increased to $961,000 in third quarter 2013 from $923,000 in third quarter 2012 due to the stronger U.S. dollar in 2013 and to a small transportation charge on the Algonquin pipeline to access the new Algonquin city gate pricing point; however, this increase was partially offset by the lower natural gas production in third quarter 2013.

Net production expense for third quarter 2013 increased to $902,000 from $766,000 in third quarter 2012 due primarily to production expenses incurred in preparation for workover operations in fourth quarter 2013 and the planned drilling program in 2014.

Outlook

Corridor has increased its budgeted 2013 cash flow from operations from $9-million to $9.5-million to reflect a forward sale agreement effective from Nov. 1, 2013, to March 31, 2014, for an average of three million British thermal units per day of Corridor's production at a price of $9.03 (U.S.)/thousand British thermal units and to reflect an increase in Corridor's 2013 forecast for the average net daily natural gas production from 7.8 million standard cubic feet per day to eight million standard cubic feet per day.

Based on available working capital of $10.2-million at Dec. 31, 2012, and Corridor's revised capital budget of approximately $2.9-million for 2013, Corridor has increased its net positive working capital forecast from $16.5-million to approximately $16.8-million at Dec. 31, 2013, with no outstanding debt.

We seek Safe Harbor.