Hyperion Exploration Corp.

Hyperion Exploration Corp.

August 29, 2011 17:27 ET

Hyperion Exploration Corp. Announces Issuance of Options

CALGARY, ALBERTA--(Marketwire - Aug. 29, 2011) - Hyperion Exploration Corp. ("Hyperion" or the "Company") (TSX VENTURE:HYX) Hyperion announces that it granted options on August 29, 2011 to acquire up to 1,431,000 Common Shares of Hyperion, 1,010,000 of which were granted to directors and officers of Hyperion. Each grant of options is for a five year term, expiring on August 29, 2016. The options vest over three years (1/3 on each of the first, second and third anniversary of the grant date). The options are exercisable at a price of $0.99 per Common Share. There are now options outstanding to purchase a total of 4,334,126 Common Shares of Hyperion, or approximately 8.0% of Hyperion's issued and outstanding Common Shares.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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