Saturn Oil + Gas Inc. Provides Operational and Corporate Update

SASKATOON, SASKATCHEWAN--(Marketwired - Aug. 31, 2017) - Saturn Oil + Gas Inc. ("Saturn" or the "Company") (TSX VENTURE:SMI)(FRANKFURT:SMK) is pleased to provide an operational update further to its news release on July 11^th, 2017. The Company has successfully recompleted the wellbore in Flaxcombe and earned its 50% interest in production. Permanent surface equipment has been installed and the well is now on production with a projected IP30 date of late September.

Based on the initial results of the recent recompletion and interpretation of 3D seismic, the Company has planned an additional recompletion on its Flaxcombe property. The recompletion of this delineation well is anticipated to commence in mid-September.

Additionally, the Company has engaged Deloitte to produce a Corporate Reserves Evaluation. Deloitte has agreed to estimate the gross and net proved reserves and probable reserves attributed to Saturn's properties of working interest. The Company expects to produce the results of the Corporate Reserves Evaluation in early September.

About Saturn Oil + Gas Inc.

Saturn Oil + Gas Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) is a public energy Company focused on the acquisition and development of undervalued, low risk assets. Saturn is driven to build a strong portfolio of cash flowing assets with strategic land positions. De-risked assets and calculated execution will allow Saturn to achieve growth in reserves & production through retained earnings. Saturn's portfolio will become its key to growth and provide long-term stability to shareholders.

On Behalf of the Board of Directors

SATURN OIL + GAS INC.

John Jeffrey, MBA - CEO & Chairman

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. Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.