PetroShale: Press Release

DENVER, COLORADO--(Marketwired - Oct. 31, 2013) - PetroShale Inc. ("PetroShale" or the "Company") (TSX VENTURE:PSH) announces that the Board of Directors (the "Directors") of PetroShale have accepted the resignation of Mr. Evan Genaud as a Director, President and Chief Executive Officer. The Directors thank Mr. Genaud for his time and contributions to the Company during his tenure.

The Directors have appointed Mr. James Fair as interim President and Chief Executive Officer, effective October 31, 2013. Mr. Fair states: "the Company intends to continue to expand and build upon the newly refocused organization put in place by Mr. Genaud and is extremely grateful for his clear and decisive leadership."

Neither the 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.