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| Press Release

Pennine appoints Carey Chilliak as its Vice President of Operations in Albania

CALGARY, Alberta, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Pennine Petroleum Corporation (“Pennine” or the “Corporation”) (TSX-V:PNN) is pleased to announce that Carey Chilliak has been appointed as Pennine’s Vice President of Operations, Albania, effective Jan. 1, 2018.

Mr. Chilliak will provide leadership, business continuity, communication and transparency to all business units and transactions to fulfil Pennine’s activities in Albania, while also ensuring rigorous Supply Chain Management (SCM) discipline and ethics.

“Carey has successfully guided critical SCM technical disciplines for all manner of oil and gas-related projects, including those in Albania,” said Pennine’s Chief Executive Officer (CEO) N. Desmond Smith. “Carey is well-versed in contract strategy and management, procurement and tender strategy and supervision, logistics, and inventory management, to name a few key areas. We are excited to welcome Carey aboard.”

Mr. Chilliak previously served as Supply Chain Manager for Petromanas Energy Inc. / Shell Oil Company Joint Venture from September 2012 through May 2016, based in Tirana and Calgary. Previously, he had served in Kurdistan and Iraq as a Supply Chain Manager for Talisman Energy, and in Kazakhstan as a procurement and logistics manager for both Condor Energy and Nations Energy Limited.

In recent weeks, Pennine received final approval for its Velca Block Production Sharing Agreement (PSA) from Albania’s newly formed Council of Ministers of the Republic.

Pennine has awarded Mr. Chilliak a Stock Option of 250,000 shares exercisable for five years at an exercise price of $0.05 per warrant.

Pennine also announces that warrants due to expire on Jan. 4, 2018 have been extended to expire on March 2, 2018.

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

For further information, contact:

Pennine Petroleum Corporation
N. Desmond Smith
T: 403.277.4421
F: 403.277.4439
E: des.smith@penninecorp.com

Dean Stuart
T: 403.617.7609
E: dean@boardmarker.net

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.