Virginia Hills Oil Corp. Announces Appointment of Receiver

CALGARY, ALBERTA--(Marketwired - Feb. 13, 2017) - Virginia Hills Oil Corp. ("Virginia Hills" or the "Company") (TSX VENTURE:VHO) announces that the Court of Queen's Bench of Alberta has granted the application of the Company's and Dolomite Energy Inc.'s ("Dolomite") lenders, to appoint Alvarez & Marsal Canada Inc. (the "Receiver") as receiver and manager over the assets, undertakings and property of Virginia Hills and Dolomite. The Receiver is charged with managing the day to day affairs of the Company and Dolomite during the period of its appointment and should be contacted with respect to any questions concerning the assets and liabilities of Virginia Hills and Dolomite.

About Virginia Hills

The Company is a Calgary based oil and gas company with operations in the Red Earth area of Alberta. Virginia Hills' shares are listed on the TSX Venture Exchange under the symbol "VHO".

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.