Athabasca Oil Corporation Reports Voting Results of Election of Directors

CALGARY, ALBERTA--(Marketwired - June 21, 2016) - Athabasca Oil Corporation (TSX:ATH) ("Athabasca" or the "Company") announces that at its annual general meeting of shareholders held on June 21, 2016, each of the six nominees proposed and recommended by the Company as a director were elected along with the appointment of Ernst & Young LLP as auditors.

The Company has been made aware that one large individual shareholder, working alone or jointly and in concert with others, appears to have solicited proxies without having filed a dissident circular or seeking the appropriate exemption as required under the Alberta Business Corporations Act (ABCA). Athabasca has been advised by its independent counsel that such activities constitute the unlawful solicitation of proxies. Athabasca takes this matter seriously and intends to take steps to protect the Company and its shareholders. Excluding the shares voted by the individual conducting the unlawful solicitation and those obtained through those unlawful efforts, each director received over 88% support.

The results of the voting, inclusive of all votes casts and proxies received for each nominee, which was conducted by ballot, are as follows:

About Athabasca Oil Corporation

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta's Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca's common shares trade on the TSX under the symbol "ATH". For more information, visit www.atha.com.