Calgary, Alberta--(Newsfile Corp. - July 6, 2026) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, is pleased to announce that the Company has entered into a credit agreement amendment dated June 30, 2026 to amend our syndicated credit facility (the "Credit Facility"). The tenor of the Credit Facility has been amended from two years to three years, with the new current maturity date extending to July 31, 2029. Saturn's elected commitment under the Credit Facility increased from $150 million to $200 million, with the Company now having access to a total available borrowing base and commitments of up to $500 million.

"As we continue to execute on our strategic blueprint, we are pleased that Saturn's performance, disciplined capital allocation and profitability enhancements have afforded us greater liquidity and financial flexibility to deliver long-term value for shareholders," said John Jeffrey, CEO of Saturn. "Not only have we extended the maturity of our Credit Facility to three years, we will also benefit from a lower cost of borrowing that reflects the Company's greater size and scale, along with our proven track record of developing light-oil weighted assets. We would like to thank our lenders for their continued support and confidence in Saturn."

National Bank of Canada Capital Markets is acting as Co-Lead Arranger and Sole Bookrunner for the Credit Facility, with ATB Financial acting as Co-Lead Arranger, along with Goldman Sachs Bank USA as Lender. The Credit Facility is a committed facility subject to a semi-annual borrowing base redetermination on or before June 30^th and November 30^th of each year, with the next review set to occur June 30^th, 2027. The amended and restated Credit Facility agreement will be made available on Saturn's SEDAR+ profile at www.sedarplus.ca.

ABOUT SATURN

Saturn is a returns-driven Canadian energy company focused on the efficient, responsible and innovative development of high-quality, light oil weighted assets, supported by an acquisition strategy targeting accretive and complementary opportunities. The Company's portfolio of free-cash flowing, low-decline operated assets in Saskatchewan and Alberta provide a deep inventory of long-term economic drilling opportunities across multiple zones. With an unwavering commitment to building an entrepreneurial and safety-focused culture, Saturn's goal is to increase per Share reserves, production and cash flow at an attractive return on invested capital. The Company's Shares are listed for trading on the TSX under ticker 'SOIL' and on the OTCQX under the ticker 'OILSF'. Further information and our corporate presentation are available on Saturn's website at www.saturnoil.com.

READER ADVISORIES

Forward-Looking Information and Statements

Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "scheduled", "will" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to: the sufficiency of liquidity for the execution of the business plan and the Company's near and medium term strategic plans; the expectation of lower borrowing costs; anticipated benefits of the amended Credit Facility; future availability of borrowing capacity; and the timing of borrowing base reviews.

The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by Saturn, including expectations and assumptions concerning the business plan.

Although Saturn believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Saturn can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual plans and results could differ materially from those currently anticipated due to a number of factors and risks, including the risks set out under "Risk Factors" in Saturn's Management Discussion and Analysis for the three and twelve months ended December 31, 2025, and Annual Information Form for the year ended December 31, 2025, available on SEDAR+ at www.sedarplus.ca.

Forward-looking information is based on a number of factors and assumptions which have been used to develop such information, but which may prove to be incorrect. Although Saturn believes that the expectations reflected in its forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because Saturn can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this press release, assumptions have been made regarding and are implicit in, among other things, our capital expenditure and drilling programs and future production and growth plans. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used.

The forward-looking information contained in this press release is made as of the date hereof and Saturn undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.

All dollar figures included herein are presented in Canadian dollars, unless otherwise noted.

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