Stetson Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - Feb. 13, 2017) - Stetson Oil & Gas Ltd. (TSX VENTURE:SSN) is pleased to welcome Mr. Jaime Lalinde as the company's new President and Chief Executive Officer.

Mr. Jaime Lalinde is a former vice president of private banking at Citibank N.A. Mr. Lalinde spent 20 years in the banking industry, working for Chase Bank and Merrill Lynch before accepting a position at Citibank N.A. in New York, where he was team leader and country manager for the Mexican and Colombian jurisdictions. Mr. Lalinde received a B.A. at Bogota's University of Los Andes and obtained Masters Degrees in philosophy and political science at the University of Illinois. Mr. Lalinde was the founder and President of La Esperanza Mining.

The appointment of Mr. Lalinde follows the resignation of Mr. Fred Leigh as President and Chief Executive Officer of Stetson. Mr. Leigh will remain on the board of directors of the company.

Stetson is also pleased to welcome Mr. Algimantas Didzjulisi to its Board of Directors. Mr. Didzjulisi is the former Colombian Country Manager for TransCanada Pipelines and Enbridge and he is currently active as an investor, board member and business advisor to various companies.

The appointment of Mr. Didzjulisi follows the resignation of Mr. Stan Bharti from the board of directors of Stetson. The management and board of Stetson would like to thank Mr. Bharti for his service and the contributions he has made to the company and wish him well in the future.

Stetson also announces that the company has granted a total of 1,200,000 stock options to various directors, officers and consultants of Stetson. The options vest immediately, have an exercise price of $0.05 and expire five years from the date of grant. The grant of options remains subject to approval by the TSX Venture Exchange.

Regulatory Statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the appointment or resignation of directors and officers of the company and the grant of options. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Stetson, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate acquired properties; foreign operations risks; and other risks inherent in the oil and gas industry. Although Stetson has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Stetson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.