Received by email:

File: 30.03.2015 PNN Younsgtown property.doc


Pennine to acquire petroleum and natural-gas rights for 640-acre property near Youngstown, Alta.

CALGARY, ALBERTA (March 30, 2015) - Pennine Petroleum Corporation (TSX Venture: PNN or "the Corporation") is pleased t
--->o announce that the Company has signed a General Conveyance Agreement (the "Transaction"), effective March 1, 2015 and
---> closing March 31, 2015, for the acquisition of 256 hectares (640 acres) of petroleum and natural-gas rights in the Yo
--->ungstown area of east-central Alberta from a privately held company. The rights have been examined by an independent e
--->ngineering firm that identifies 132,000 barrels of probable reserves on 160 acres of the acquired property. Two wells 
--->on the property may be re-entered to verify earlier oil tests from two zones in the Lower Mannville geological sequenc
--->e. Consideration for the Transaction is 10,000,000 common shares retaining a five percent (5%) non-convertible gross o
--->verriding royalty on the gross monthly production of petroleum substances derived from the lands. The distribution of 
--->shares will not result in a change of control or create an insider of the Company. The consideration will result in th
--->ere being a total of 85,786,527 shares issued and outstanding.

This Transaction is subject to regulatory and TSX Venture Exchange approval.

The Company has also issued two secured convertible promissory notes in the amount of $20,000 each to two Directors of
---> the Company. The notes will reach maturity on June 29, 2015 and have a 10 per cent per annum interest coupon. The pri
--->ncipal of the note may be converted into units at the average 20-day trading price of the Company, minimum $0.05 per u
--->nit. The unit consists of one common share and a share purchase warrant exercisable to a share of the Company at $0.10
---> for a period of two years from issue.

-30-

About Pennine Petroleum Corporation: Pennine Petroleum Corporation is an emerging oil and gas exploration and developm
--->ent company (www.penninecorp.com) currently active in Alberta and Saskatchewan.

For further information, contact:

Pennine Petroleum Corporation
N. Desmond Smith Anthony Ghitter
T: 403.277.4421 T: 403.277.4421
F: 403.277.4439
E: des.smith@penninecorp.com E: ghittera@gmail.com
W: www.penninecorp.com W: www.penninecorp.com







Investors are cautioned that, except as disclosed in management information circulars or filing statements, any inform
--->ation released or received with respect to the Transaction may not be accurate or complete and should not be relied up
--->on. Trading in the securities of the Company should be considered highly speculative. 

This news release contains forward-looking statements. Certain statements contained in this news release constitute fo
--->rward-looking statements. The use of any words such as "anticipate", "continue", "estimate", "expect", "may", "will", 
--->"project", "should", "believe" and similar expressions are intended to identify forward-looking statements.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are ma
--->de. Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance
--->, or achievements may differ materially from any future results, performance or achievements expressed or implied by s
--->uch forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business
--->, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance t
--->hat forward-looking statements will materialize. The Company assumes no obligation to update or revise any forward-loo
--->king statements, whether as a result of new information, future events or any other reason except as required by appli
--->cable securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy
---> any securities, nor shall there be any sale of securities in any state in the United States in which such offer, soli
--->citation or sale would be unlawful. The securities referred to herein have not been and will not be registered under t
--->he United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent regist
--->ration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor sh
--->all there be any sale of securities in any state in the United States in which such offer, solicitation or sale would 
--->be unlawful. The securities referred to herein have not been and will not be registered under the United States Securi
--->ties Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable
---> exemption from registration requirements.

Neither 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.



File: 30.03.2015 PNN Younsgtown property.pdf

      Pennine to acquire petroleum and natural-gas rights
         for 640-acre property near Youngstown, Alta.
CALGARY, ALBERTA (March 30, 2015) � Pennine Petroleum Corporation (TSX Venture:
PNN or "the Corporation") is pleased to announce that the Company has signed a General
Conveyance Agreement (the "Transaction"), effective March 1, 2015 and closing March 31,
2015, for the acquisition of 256 hectares (640 acres) of petroleum and natural-gas rights in the
Youngstown area of Alberta from a privately held company. The rights have been examined by
an independent engineering firm that identifies 132,000 barrels of probable reserves on 160 acres
of the acquired property. Two wells on the property may be re-entered to verify earlier oil tests
from two zones in the Lower Mannville geological sequence. Consideration for the Transaction
is 10,000,000 common shares retaining a five percent (5%) non-convertible gross overriding
royalty on the gross monthly production of petroleum substances derived from the lands. The
distribution of shares will not result in a change of control or create an insider of the Company.
The consideration will result in there being a total of 85,786,527 shares issued and outstanding.

This Transaction is subject to regulatory and TSX Venture Exchange approval.

The Company has also issued two secured convertible promissory notes in the amount of
$20,000 each to two Directors of the Company. The notes will reach maturity on June 29, 2015
and have a 10 per cent per annum interest coupon. The principal of the note may be converted
into units at the average 20-day trading price of the Company, minimum $0.05 per unit. The unit
consists of one common share and a share purchase warrant exercisable to a share of the
Company at $0.10 for a period of two years from issue.

                                               -30-

About Pennine Petroleum Corporation: Pennine Petroleum Corporation is an emerging oil
and gas exploration and development company (www.penninecorp.com) currently active in
Alberta and Saskatchewan.

For further information, contact:

Pennine Petroleum Corporation
N. Desmond Smith                              Anthony Ghitter
T: 403.277.4421                               T: 403.277.4421
F: 403.277.4439
E: des.smith@penninecorp.com                  E: ghittera@gmail.com
W: www.penninecorp.com                        W: www.penninecorp.com
 Investors are cautioned that, except as disclosed in management information circulars or
filing statements, any information released or received with respect to the Transaction may not
be accurate or complete and should not be relied upon. Trading in the securities of the
Company should be considered highly speculative.

This news release contains forward-looking statements. Certain statements contained in this
news release constitute forward-looking statements. The use of any words such as
"anticipate", "continue", "estimate", "expect", "may", "will", "project", "should",
"believe" and similar expressions are intended to identify forward-looking statements.

Forward-looking statements are based on the opinions and estimates of management as of the
date such statements are made. Readers are cautioned not to place undue reliance on these
statements as the Company's actual results, performance, or achievements may differ
materially from any future results, performance or achievements expressed or implied by such
forward-looking statements if known or unknown risks, uncertainties or other factors affect
the Company's business, or if the Company's estimates or assumptions prove inaccurate.
Therefore, the Company cannot provide any assurance that forward-looking statements will
materialize. The Company assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or any other reason except
as required by applicable securities laws. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in
any state in the United States in which such offer, solicitation or sale would be unlawful. The
securities referred to herein have not been and will not be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any state in the United States in which
such offer, solicitation or sale would be unlawful. The securities referred to herein have not
been and will not be registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements.

Neither 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.