Mr. Mark Kilback reports

KINGSLAND ENERGY CORP. (TSX-V:KLE) ANNOUNCES UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL RESULTS FOR THE 1ST QUARTER PERIOD ENDED FEBRUARY 28, 2015

Kingsland Energy Corp. (KLE) has released its unaudited financial results for the first quarter ended Feb. 28, 2015.

During the period ending Feb. 28, 2015, the corporation continued to develop certain international interests into strategic long-term relationships and financings. The corporation issued 1,051,190 common shares (at 18 cents per share) for gross proceeds of $189,214. These common shares are subject to hold periods until April 5, 2015. Proceeds were used during and subsequent to the period to acquire an addition 28 per cent of a private corporation producing approximately 54 barrels of oil equivalent per day from the Upper Shaunavon formation near Gull Lake, Sask. The private company also has approximately 8,500 additional acres of undeveloped land with potential from the Cantuar and Upper Shaunavon intervals. The assets are currently being evaluated for financing, development of drilling locations and optimized water management programs to increase production.

2015 business focus

The corporation will continue to leverage the EHR Enhanced Hydrocarbon Recovery Inc. assets and accomplishments to capitalize on attracted international interest. Throughout 2015, the corporation will rationalize its asset base to strategically position itself to develop these international interests into commercial opportunities.

The corporation continues to evaluate additional acquisitions with similar characteristic to the Gull Lake assets to leverage technologies, capabilities and relationships of its wholly owned EHR subsidiary and to capitalize on established strategic long-term partnerships for additional investment and joint asset development.

The corporation continues to rationalize its costs, non-core asset base and associated human resource requirements necessary to pursue acquisitions and capture other commercial opportunities in the current commodity market environment.

Growing international investment interest in the potential of EHR's capabilities has introduced and continues to introduce KLE to investment groups looking to support a technology-driven approach to oil production in Western Canada.

The corporation will continue to pursue opportunities through acquisition, farm-in or joint venture initiatives established to pursue asset opportunities whereby the EHR suite of technologies and strategic relationships will increase reservoir recovery factors and position KLE with an opportunity to develop a scalable, less capital-intensive means to develop lower-cost heavy oil resource plays.

                                            Three-month period          Three-month period
                                           ended Feb. 28, 2015         ended Feb. 28, 2014

Revenues                                   $            68,500             $        10,000
(Loss) for the period                                 (120,201)                   (267,282)
Profit (loss) per common share                          (0.002)                     (0.003)

Revenues for the period are associated with consulting services. Revenues from consulting services may occur from time to time as opportunities arise, but they are not a continuing source of revenues. There are no revenues from oil and gas production for the period. Revenues from oil and gas will not resume until the corporation acquires existing production or realizes revenue from farm-in opportunities. Rents and other revenues arise from the temporary rental of leased space, as well as other non-recurring recoveries.

Net loss and comprehensive loss for the period totalled $120,201, compared with a loss of $267,282 for the period ended Feb. 28, 2014. The decrease in loss is primarily attributable to a reduction in general and administrative and finance costs, offset by an increase in consulting and other revenue.

Total assets for the period were $5,450,558, compared with $5,500,926 as at Feb. 28, 2014. The net decrease in assets is attributed to the amortization of property, equipment and intangibles.

As at Feb. 28, 2015, current liabilities were $1,420,897, compared with $315,723 as at Feb. 28, 2014. The increase is primarily due to the reclassification of debt maturing in the current year.

Long-term liabilities were $1,454,290, compared with $1,873,228 as at Feb. 28, 2014. The decrease is a result of the new convertible debentures and the reclassification of a portion of debt to current liabilities.

Financial results have been prepared in accordance with international financial reporting standards.

We seek Safe Harbor.