Red Rock Energy Inc. Announces Plan to Review Strategic Alternatives to Enhance Shareholder Value

CALGARY, ALBERTA--(Marketwired - April 2, 2014) - Red Rock Energy Inc. (TSX VENTURE:RRK) ("Red Rock" or the "Corporation") announced today that its Board of Directors has commenced a process to consider strategic and financial alternatives available to the Corporation with the objective of enhancing shareholder value.

Strategic and financial alternatives may include, but are not limited to, the sale of the Corporation, merger or other business combination, additional financing, sale of all or a portion of the Corporation's assets, or any combination thereof, and continued execution of its business plans among all other alternatives. The Board of Directors has established an independent committee comprised of independent directors (the "Independent Committee") to oversee the process.

The Corporation cautions that there are no assurances that the process will result in a transaction, or if a transaction is undertaken, the terms or timing of such a transaction. The Uranium City assets include a land position of 60,581 hectares in a region with historical production of 77 million pounds of uranium at an average grade of .25%. The total confirmed resource in place as determined by Red Rock exploration activities is 3.89 million pounds, with significant historical resources estimated to be within a short distance of the new Redox discovery zone.

The Corporation has not established a definitive timeline to complete this activity and no decision on any particular alternative has been reached at this time. There can be no assurance that the process will result in a transaction of any form or, if a transaction is undertaken, as to its terms or timing. The Corporation does not intend to make any further announcements regarding the process unless and until the Board has approved a specific transaction or other course of action or otherwise deems disclosure of developments is appropriate.

In discussing the Board's decision to take this action, Sandy Loutitt, President of Red Rock, commented: "While we recognize that the Uranium City properties have represented a key element to the business strategy of Red Rock in the past, the recent increase in market potential for uranium oriented projects, coupled with the continuing difficulties surrounding funding of junior market projects, has lead us to consider a variety of new business strategies for the Corporation and its assets."

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 the accuracy of this release.

READER ADVISORY

Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.