Alberta Oilsands Inc. Announces Stock Option Grant

NOT FOR DISSEMINATION IN THE U.S.A.

Calgary, Alberta CANADA, May 27, 2014 /FSC/ - Alberta Oilsands Inc. (AOS - TSX Venture), Alberta Oilsands Inc. ("AOS" or "the "Company") (TSXV: AOS) announces that subject to regulatory filings, the Company has granted an aggregate of 3,900,000 stock options ("Options") to directors, officers, and consultants, pursuant to the Company's Stock Option Plan.  Each Option has an exercise price of $0.15 per common shares and expires on May 27, 2019.  

About Alberta Oilsands Inc.

Alberta Oilsands Inc. is engaged in the exploration and development of drill-defined domestic assets, and an expanding portfolio of international projects.  AOS holds bitumen leases in the Athabasca oil sands region of northeast Alberta. In addition, the Company's new Africa initiative is focused on active and known onshore and offshore basins on the East Africa Rift System and the offshore in pursuit of additional Cretaceous and Miocene aged critical mass opportunities. The Company's head office is located in Calgary, Alberta, Canada and its common shares are traded on the TSX Venture Exchange under the trading symbol AOS.

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For further information please contact:

Binh Vu
Interim CEO & President
+1 416 951 8800
bvu@aboilsands.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the press release as a PDF, please click on the following link:
http://www.fscwire.com/sites/default/files/news_release_pdf/albertaoil05272014.pdf


Source: Alberta Oilsands Inc. (TSX-V AOS) www.aboilsands.ca
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