Big Sky Petroleum Amends Warrant Terms

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2013) - Big Sky Petroleum Corporation (TSX VENTURE:BSP)(PINKSHEETS:BGKYF) ("Big Sky" or the "Company") is seeking approval from the TSX Venture Exchange (the "Exchange") to amend the terms of certain warrants which would otherwise expire on October 25, 2013.

1,560,000 warrants granted on April 25, 2011 with the original expiry date of October 25, 2012 which was extended to October 25, 2013 after getting the Exchange's approval on October 2, 2012 and exercise price of $0.45, are now extended to expire on October 25, 2015, with each warrant entitling the holder to purchase one common share of the Company at $0.25 per share. Pursuant to section 4.3(b) of TSX Venture Exchange Policy 4.1, the warrants will have an accelerated term and will expire within 30 days if the closing price exceeds $0.3125 for ten trading days.

About Big Sky

Big Sky Petroleum Corp. (TSX VENTURE:BSP) is a Canadian oil and gas exploration and production company with U.S. operations in Texas and Montana. The Company is currently focused on the development of unconventional tight oil reservoirs in the Southern Midland Basin of West Texas, and the Southern Alberta Basin of Montana. The Company uses the latest technology and streamlined operations for a scalable and repeatable business model based on precise execution, while still emphasizing growth.

Mark T. Brown, Director & Chief Financial Officer

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.