CHATHAM, ONTARIO--(Marketwire - Sept. 4, 2012) - PetroShale Inc. ("PetroShale") is pleased to announce that, subject to the approval of the TSX Venture Exchange, Bruce Chernoff has agreed to join the Board of Directors of the Company. The Board of Directors of PetroShale comprises of James D. Fair, Brett Herman, Jacob Roorda, John Hagg, Daniel M. Jarvie and Bruce Chernoff.

Mr. Chernoff is a Professional Engineer with a Bachelor of Applied Science degree in Chemical Engineering from Queen's University. Mr. Chernoff has been the President of Caribou Capital Corp., a private investment company, since 1999. Mr. Chernoff was Chairman and Founder of Harvest Energy Trust and Maxim Power Corp. and a director of several other public and private entities.

PetroShale also wishes to announce that it has filed a Notice of Change of Auditor appointing KPMG LLP as auditors of the Corporation. The Corporation has changed its auditors as a consequence of the changes in its business and board of directors as described in its press release of March 12, 2012. There were no disagreements, unresolved issues, or consultations with the previous auditors.

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Contact Information:

PetroShale Inc.
James Fair
President and Chief Executive Officer