2015

12 November 2015

Petrolympic Commente La Dernière Conférence Annuelle De L’apgq Et Fournit Des Mises À Jour Sur La Planification Des Opérations

TORONTO, ONTARIO – Petrolympic Ltd. (« Petrolympic » ou la « Compagnie ») (TSX-V: PCQ, OTCQB: PCQRF) est heureux de présenter ses observations sur la dernière conférence annuelle de l'Association Pétrolière et Gazière du Québec (l' « APGQ ») et d'annoncer des mises à jour sur la planification des opérations de terrain de la Compagnie dans ses propriétés de Mitis et de Matapédia (les « Propriétés ») détenues à 100% en Gaspésie/Bas-Saint Laurent.

Petrolympic présentait à la 7ème conférence annuelle de l'APGQ qui s'est tenue à Montréal plus tôt cette semaine sous le thème « Chantier pétrole et gaz : c'est le temps de travailler ensemble au Québec! » (voir le site internet de l'APGQ : http://www.apgq-qoga.com/). La Compagnie a reçu une bonne visibilité à cette conférence qui a rassemblé des professionnels de l'industrie de différents horizons. De nombreux investisseurs importants ainsi que des régulateurs de différentes juridictions étaient également présents. L'atmosphère générale de la conférence était très positive et beaucoup de projets d'exploration et de développement intéressants ont été présentés à travers la province, confirmant que le Québec est ouvert aux affaires et qu'il y a encore de la place pour de nombreux autres projets pétroliers et gaziers dans la province.

Le Ministre de l'Énergie et des Ressources naturelles, M. Pierre Arcand, était également présent et il a souligné que le développement de ses propres ressources pétrolières et gazières serait très bénéfique pour le Québec, qui importe actuellement 100 % du pétrole et du gaz qu'il consomme. Le remplacement du pétrole importé par du gaz naturel produit localement pourrait également faciliter et accélérer les efforts déployés par la province pour réduire ses émissions de gaz à effet de serre.

Le gouvernement du Québec est maintenant entré dans les dernières étapes des deux Évaluations Environnementales Stratégiques lancées en 2014 et qui seront complétées le mois prochain. Le gouvernement va également bientôt dévoiler sa nouvelle Politique Énergétique, qui sera suivie d'une Loi sur les Hydrocarbures et d'un nouvel ensemble de règlements qui fourniront un cadre réglementaire stable et prévisible pour l'industrie. Depuis juin 2015 le gouvernement s'est également engagé à investir jusqu'à 1 milliard de dollars en fonds publics pour prendre des participations dans des sociétés des secteurs pétrolier et minier par le biais du « Fonds Capital – Mines – Hydrocarbures ». Ce nouveau fonds sera orienté de manière à encourager la réalisation de projets d'investissement ayant des perspectives de rentabilité pour le fonds, mais aussi un potentiel de retombées économiques importantes pour la province.

Mendel Ekstein, Président et Chef de la Direction de Petrolympic, commente ainsi les nouvelles : « Le gouvernement maintient le cap à un rythme soutenu dans le programme qu'il a établi pour définir un portefeuille énergétique bien équilibré pour le Québec. L'industrie pétrolière et gazière a sa place dans ce portefeuille et, si elle est bien gérée, elle aura un impact très positif et significatif sur la situation économique, sociale et environnementale de la province. Petrolympic fait partie de la solution et contribuera au développement du Québec grâce à ses efforts d'exploration en cours. Plusieurs structures au potentiel important ont été identifiées dans nos propriétés et nous sommes sur le point de les valider sur le terrain. »

Mises à Jour sur la Planification des Opérations

Petrolympic poursuit activement les préparatifs d'un forage qui vise des anomalies sismiques prometteuses dans sa Propriété de Mitis, tel qu'annoncé dans un communiqué de presse daté du 31 août 2015, (dont la version complète est disponible sur le site www.sedar.com sous le profil Petrolympic). Les opérations sur le terrain seront annoncées dès que tous les permis, équipements et préparatifs seront complétés. Plusieurs cibles de forage additionnelles ont été également identifiées dans les Propriétés de Mitis et Matapédia et un programme d'exploration complet a été établi pour révéler le plein potentiel de ces propriétés détenues à 100 % par la Compagnie.

Dans le même temps Petrolympic collabore aussi étroitement avec son partenaire Ressources et Énergie Squatex Inc. (« Squatex »), pour développer la structure Massé et le reste de sa vaste propriété détenue en entente d'opération conjointe et opérée par Squatex, qui est située en Gaspésie/Bas Saint-Laurent à proximité des Propriétés de Matapédia et Mitis.

Les modèles d'exploration de Petrolympic, validés par les récents résultats, privilégient des réservoirs conventionnels de gaz naturel et de condensats. Des quantités importantes de pétrole peuvent être également présentes, qui augmenteraient la valeur de chaque découverte. Une production commerciale peut être réalisée à un coût très faible et les marchés local, régional et provincial sont déjà disponibles et peuvent être rejoints rapidement par divers moyens de transport. Cette polyvalence confère une grande souplesse dans la façon dont nous allons développer nos vastes propriétés.

À propos de Petrolympic Ltd.

Petrolympic est une compagnie pétrolière et gazière canadienne junior qui explore activement pour le pétrole brut léger et le gaz naturel en Amérique du Nord. La Compagnie dispose d'actifs situés dans le Fairway de l'Utica au Québec, Canada et détient un intérêt dans un total de 754 216 hectares (1 863 668 acres) de permis d'exploration pétrolière et gazière du bassin appalachien québécois, incluant des possessions dans les Basses-Terres du Saint-Laurent et la péninsule gaspésienne. Les possessions de la Compagnie dans les Basses-Terres du Saint-Laurent consistent en un intérêt de 30% dans 217 370 hectares (536 941 acres) par le biais d'une entente d'opération conjointe avec Squatex, un intérêt de 12% dans 8 000 hectares (19 768 acres) par le biais d'une entente d'affermage avec Canbriam Energy Inc., et un intérêt de 100% dans 56 622 hectares (139 913 acres) situés dans la plate-forme carbonatée des Basses-Terres moins de 30 kilomètres au sud-ouest de Montréal. Ces propriétés constituent une position majeure dans les plays de l'Utica, du Lorraine et du Trenton-Black-River. Petrolympic maintient également des possessions dans les régions de la Gaspésie et du Bas-Saint-Laurent, incluant un intérêt de 30% dans 431 339 hectares (1 065 839 acres) par le biais d'une entente d'opération conjointe avec Squatex et un intérêt de 100% dans un bloc de permis d'exploration pour un total de 40 885 hectares (101 029 acres) localisés entre Rimouski et Matane, une région prospective pour le pétrole présent dans des réservoirs de dolomies hydrothermales.

Énoncés Prospectifs

NI LA BOURSE DE CROISSANCE TSX NI L'OTC MARKETS GROUP INC., NI SON FOURNISSEUR DE SERVICES DE RÉGLEMENTATION ONT RÉVISÉ OU PEUVENT ÊTRE TENUS RESPONSABLES DE LA VÉRACITÉ OU L'EXACTITUDE DE CE COMMUNIQUÉ.

Ce communiqué peut contenir des déclarations prospectives et des informations basées sur des attentes courantes. Ces déclarations ne devraient pas être interprétées comme des garanties de performances futures ou de résultats. De telles déclarations comportent des risques connus et inconnus, des incertitudes et d'autres facteurs qui peuvent entraîner des résultats réels, des performances et des réalisations matériellement différents de ceux sous-entendus dans ces déclarations. Ces déclarations incluent la présentation de la documentation pertinente dans les délais requis et à la satisfaction des organismes de réglementation pertinents, la complétion de l'acquisition des biens pertinents et la levée de fonds suffisants pour compléter la stratégie commerciale de la Compagnie. Il n'y a aucune certitude qu'aucun de ces événements ne se produira. Bien que ces déclarations soient fondées sur des hypothèses de gestion raisonnables, il ne peut y avoir de garantie que ces hypothèses se révéleront correctes. Nous n'assumons aucune responsabilité de mise à jour ou de révision pour tenir compte de nouveaux événements ou circonstances.
Les titres de la Compagnie n'ont pas été enregistrés en vertu de l'U.S. Securities Act de 1933 amendé (l' « U.S. Securities Act »).

En outre, il y a des facteurs de risque connus et inconnus qui pourraient entraîner des résultats réels de la Compagnie, des performances ou des réalisations matériellement différents de tous résultats, performances ou réalisations futurs exprimés ou sous-entendus par les informations prospectives contenues dans ce document. Toute information prospective contenue dans les présentes est qualifiée dans son intégralité par cette mise en garde, et la Compagnie décline toute obligation de réviser ou de mettre à jour ces informations prospectives ou d'annoncer au public le résultat de toute révision d'une information prospective contenue dans ce document afin de tenir compte de résultats, d'événements ou de développements futurs, sauf tel que requis par la Loi.

Pour tout renseignement complémentaire, n'hésitez pas à communiquer avec:
Mendel Ekstein,
Président et Chef de la Direction
Petrolympic Ltd.
T: 845 656-0184
E: exis@petrolympic.com

12 November 2015

Petrolympic Comments On The Last Qoga Annual Conference And Provides Updates On Operations Planning

Toronto, Ontario – Petrolympic Ltd. ("Petrolympic" or the "Company") (TSX-V: PCQ, OTCQB: PCQRF) is pleased to comment on the recent annual conference of the Quebec Oil and Gas Association (the "QOGA") and to announce updates on the planning of the Company's field operations in its 100% owned Mitis and Matapedia properties (the "Properties") in the Gaspe/Lower St. Lawrence area.

Petrolympic was presenting at the 7th QOGA annual conference that was held in Montreal earlier this week under the theme "Oil and gas: Time to work" (see QOGA's website: http://www.apgq-qoga.com/en/). The Company received good exposure at this conference that gathered professionals of the industry from various horizons. Many high profile investors and regulators from different jurisdictions were also present. The overall atmosphere of the meeting was very positive and many interesting exploration and development projects across the province were presented, confirming that Quebec is open for business and that there is room for many more new O&G projects in the province.

The Minister of Energy and Natural Resources, Mr. Pierre Arcand, was also present and emphasized that developing its own O&G resources would be highly beneficial for Quebec, which currently imports 100% of the oil and the gas it consumes. The switch from imported oil to locally-produced natural gas would also facilitate and accelerate the efforts of the province to curb its green house gases emissions.

The Quebec government has now entered in the final steps of two Strategic Environmental Assessments initiated in 2014 and that will be completed next month. The government also will soon unveil its new Energy Policy plan, followed by an O&G Law and a new set of regulations that will provide a stable and predictable regulatory framework to the industry. Since June 2015 the government has also committed itself to invest up to $1 billion of public funds to take stakes in companies of the oil and the mining sectors through the "Fonds Capital–Mines–Hydrocarbures". This new fund will be oriented so as to support the realization of investment projects which have prospects of profitability for the fund as well as a potential for significant economic benefits for the province.

Petrolympic CEO Mendel Ekstein commented: "The government stays the course of the fast pace program it has defined to establish a well balanced energy portfolio for Quebec. The O&G industry has its place in this portfolio and, if managed properly, it will have a very positive and significant impact on the economic, social and environmental situation of the province. Petrolympic is part of the solution and will contribute to the development of Quebec through its ongoing exploration efforts. Several high potential structures have been identified in our properties and we are about to validate them in the field."

Operations Planning Update

Petrolympic is actively pursuing the preparations to drill a well targeting promising seismic anomalies in its Mitis Property, as announced in a press release dated August 31, 2015, (the full version of which can be found on www.sedar.com under Petrolympic profile). Operations on the ground would be announced as soon as all permitting, equipment and preparations will be available. Several additional drilling targets have been also identified in the Mitis and Matapedia Properties and a complete exploration program has been prepared to reveal the full potential of these 100% owned Properties.

In the mean time Petrolympic is also working closely with its partner Ressources et Énergie Squatex Inc. ("Squatex"), to develop the Masse structure and the rest of its vast joint venture property operated by Squatex and located in the Gaspe/Lower St. Lawrence area next to the Matapedia and Mitis Properties.

Petrolympic's exploration models, validated by recent results, favor conventional reservoirs of natural gas and condensates. Significant amounts of oil may be present as well, that would increase the value of each discovery. Commercial production can be achieved at very low costs and local, regional and province-wide markets are already available and can be quickly accessed by various means of transportation. This versatility confers a significant flexibility in the way we will develop our vast properties.

About Petrolympic Ltd.

Petrolympic is a Canadian junior oil and gas company actively exploring for premium light crude and natural gas in North America. The Company has assets located in the Utica Fairway of Quebec, Canada and holds an interest in a total of 1,863,668 acres (754,216 hectares) of oil and gas exploration permits in the Appalachian Basin of Quebec that include holdings in the St. Lawrence Lowlands and Gaspe Peninsula. The Company's holdings in the St. Lawrence Lowlands consist of a 30% interest in 536,941 acres (217,370 hectares) through a joint venture with Squatex, a 12% interest in 19,768 acres (8,000 hectares) through the Farmout Agreement with Canbriam Energy Inc., and a 100% interest in 139,913 acres (56,622 hectares) located over the Lowlands shallow carbonates platform on the south shore of the St. Lawrence River, less than 30 kilometers southwest of Montreal. These properties represent a major land position in the Utica Lorraine and Trenton-Black River Plays. Petrolympic also maintains holdings in the Gaspe and Lower St. Lawrence regions, including a 30% interest in 1,065,839 acres (431,339 hectares) through a joint venture with Squatex and a 100% interest in a block of exploration permits, the Matapedia and Mitis Properties, totaling 101,029 acres (40,885 hectares) located between Rimouski and Matane prospective for hydrothermal dolomite hosted light oil.

Forward-Looking Statements

NEITHER THE TSX VENTURE EXCHANGE NOR OTC MARKETS GROUP INC, NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act").

Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

For further information, please contact:

Mendel Ekstein,
President and CEO Petrolympic Ltd.
T: 845 656-0184
E: exis@petrolympia.com

01 September 2015

Petrolympic Announces Planning Of Operations In Mitis Property And General Updates

TORONTO, ONTARIO – Petrolympic Ltd. (“Petrolympic” or the “Company”) (TSX-V: PCQ, OTCQB: PCQRF) is pleased to announce that a drilling location has been identified and field operations are being planned in its 100% owned Mitis property (the “Property”) in the Gaspe/Lower St. Lawrence area.

Petrolympic has identified several promising conventional drilling targets on the Property after reprocessing and reinterpreting its proprietary seismic data. Three of these targets are located close to each other in a faulted anticline and are combined in one structure. Each of them corresponds to a seismic anomaly indicating the probable presence of oil and/or gas.

The depths for this prospect range from about 2,130 feet deep for the shallow target down to 3,450 feet for the deepest one. At least two of the three targets can be reached by the same well using directional drilling equipment. A drilling program is being prepared and operations in the field would be announced as soon as all permitting, equipment and preparations will be available. Other prospective targets also identified at greater depths within the Property will be considered in the following phases of the exploration program.

The combination of proprietary data and recent surface geology maps suggests that the target formation corresponds to the lower Silurian-aged Val-Brillant sandstones. Outcrops northeast of the Property further indicate that significant primary and secondary porosity can be present in the Val-Brillant sandstones. Bitumen coatings in the pores have been observed in the same outcrops and are evidence of past oil migration in the system.

These projects will be undertaken in parallel to the work program proposed by the Company’s joint venture partner Ressources et Énergie Squatex Inc. (“Squatex”), in the adjacent Massé structure area, in which Petrolympic holds a 30% working interest. In its press release dated July 31, 2015, (the full version of which can be found on www.sedar.com under Squatex profile) (the "Squatex Press Release"), Squatex provided as follows: “The stratigraphic coring Massé No.1 and No.2 obtained significant shows of gas with condensate and oil (20o API). These holes were drilled on seismic AVO anomalies type (amplitude vs. offset) indicating the probable presence of reservoirs with significant porosity in zones of hydrothermal dolomitization within the Sayabec Formation. The geophysical interpretation performed by Squatex shows that AVO anomaly zones observed could extend over more than 300 km2.”

In the Squatex Press Release, Squatex also indicated that by the end of 2015, it will make all efforts needed to evaluate the potential of the Massé structure. Squatex further advised that conditional on obtaining sufficient funding, it “plans to drill three additional core holes respectively reaching depths of 1600, 1800 and 2000 meters over porosity anomalies located at 5km, 10Km and 20km from the Massé No.1 and No.2 locations.”

Squatex also announced, in a press release dated August 25, 2015, (which can be found on www.sedar.com under Squatex profile), “the conclusion of an academic partnership with the Institut national de la recherche scientifique (INRS) to conduct important geosciences studies in the Lower St. Lawrence area. These studies will provide a 3D modeling and a determination of the reservoir potential of the Sayabec Formation.”

Petrolympic CEO Mendel Ekstein commented: “Developing the hydrocarbon potential of our properties is at the heart of Petrolympic’s strategy and we believe that the environmental performance and the competitiveness of local end-users, as well as of larger industries located nearby in the Gaspe Peninsula and the North Shore, would greatly benefit from low-cost, locally-produced, conventional hydrocarbon resources.”

These efforts come at a time when the Quebec government is actively encouraging the building of liquefied natural gas (LNG) facilities to facilitate access to clean energy sources for businesses that are not connected to the existing natural gas distribution networks. To name but a few measures, the building of a large LNG plant in Becancour has been approved just this week and the 2015-2016 Quebec budget includes provisions for incentives to develop new LNG facilities across the Province.

Annual Shareholders Meeting

The Company is also pleased to announce that all items on the agenda were approved at the Company's annual and special shareholders meeting held on August 20, 2015 (the “Meeting”). At the Meeting, the shareholders of Petrolympic ratified the Company's 10% rolling stock option plan, appointed Collins Barrow Toronto LLP as auditors of the Company for the ensuing year, and authorized the directors to fix their remuneration. In addition, each of the current directors of Petrolympic, being Mendel Ekstein, Andreas Jacob, Alain Fleury, Frank Ricciuti, Miles Pittman, Rodger Creamer and Glenn MacNeill, were re-elected.

About Petrolympic Ltd.

Petrolympic is a Canadian junior oil and gas company actively exploring for premium light crude and natural gas in North America. The Company has assets located in the Utica Fairway of Quebec, Canada and holds an interest in a total of 1,863,668 acres (754,216 hectares) of oil and gas exploration permits in the Appalachian Basin of Quebec that include holdings in the St. Lawrence Lowlands and Gaspe Peninsula. The Company's holdings in the St. Lawrence Lowlands consist of a 30% interest in 536,941 acres (217,370 hectares) through a joint venture with Squatex, a 12% interest in 19,768 acres (8,000 hectares) through the Farmout Agreement with Canbriam Energy Inc., and a 100% interest in 139,913 acres (56,622 hectares) located over the Lowlands shallow carbonates platform on the south shore of the St. Lawrence River, less than 30 kilometers southwest of Montreal. These properties represent a major land position in the Utica Lorraine and Trenton-Black River Plays. Petrolympic also maintains holdings in the Gaspé and Lower St. Lawrence regions, including a 30% interest in 1,065,839 acres (431,339 hectares) through a joint venture with Squatex and a 100% interest in a block of exploration permits totaling 101,029 acres (40,885 hectares) located between Rimouski and Matane prospective for hydrothermal dolomite hosted light oil.

Forward-Looking Statements

NEITHER THE TSX VENTURE EXCHANGE NOR OTC MARKETS GROUP INC, NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act").

Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

For further information, please contact:

Mendel Ekstein,
President and CEO Petrolympic Ltd.
T: 845 656-0184
E: exis@petrolympia.com

25 August 2015

Petrolympic grants option to buy 100,000 shares

Mr. Mendel Ekstein reports

PETROLYMPIC ANNOUNCES GRANT OF OPTIONS

Petrolympic Ltd. has granted a total of 100,000 options to purchase common shares of the company to an officer at an exercise price of 10 cents per share, expiring on Aug. 21, 2020. The grant is to replace options that expired in April, 2015. The grant is subject to regulatory approval.

16 July 2015

PETROLYMPIC ANNOUNCES OTCQB LISTING

TORONTO, ONTARIO – Petrolympic Ltd. (“Petrolympic” or the “Company”) (TSX-V: PCQ, OTCQB: PCQRF) has announced that the Company's shares have been approved for listing on the OTCQB Marketplace and have commenced trading on that exchange. Real-Time Quote Display Service for the company’s US symbol (OTCQB: PCQRF) is now available at: http://www.otcmarkets.com/stock/PCQRF/quote. The Company has also maintained its listing on the Canadian Securities Exchange in Canada, under the symbol PCQ.

“We have been pursuing the OTCQB listing for quite some time and are gratified that our efforts have now been rewarded,” said Mendel Ekstein, Petrolympic CEO. “Liquidity offered through the OTCQB Marketplace will yield far more accessibility to a much wider range of retail and institutional investors, and we intend to take full advantage of this by attracting as many new eyeballs to our Company's progress as possible. We are committed to enhancing our investor relations through the use of creative social networking and other sophisticated investor awareness programs.”

Petrolympic has recently announced significant oil and natural gas discoveries in a conventional hydrothermal dolomite reservoir in Quebec. The Company is actively pursuing a reservoir characterization and delineation program to develop this resource in a dynamic market and in a context of rejuvenated provincial regulations and energy policies.

About Petrolympic Ltd.

Petrolympic is a Canadian junior oil and gas company actively exploring for premium light crude oil and natural gas in North America. The Company has assets located in the Utica Fairway of Quebec, Canada and holds 100% interest in exploration rights over 240,944 acres (97,507 hectares), 12% to 30% interest in 36 exploration permits totaling 1,622,759 acres (656,710 hectares) – net 483,269 acres (195,573 hectares) in the Gaspe Peninsula and the St. Lawrence Lowlands where oil and gas targets are abundant and proven. The Company is also focused on its near-term oil production asset in the prolific Maverick Basin of Texas, USA.

Forward-Looking Statements

NEITHER THE TSX VENTURE EXCHANGE NOR OTC MARKETS GROUP INC, NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act").

Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

09 July 2015

Petrolympic Receives TSX Venture Exchange Approval on Warrant Extension

TORONTO, ONTARIO--(Marketwired - July 9, 2015) - Petrolympic Ltd. (TSX VENTURE:PCQ) (the "Company"), announced today that the Company has received TSX Venture Exchange (the "TSXV") acceptance to extend the term of the remaining 6,300,000 common share purchase warrants originally issued on February 13, 2014 (the "February 2014 Warrants") and the remaining 2,470,666 common share purchase warrants originally issued on March 7, 2014 (the "March 2014 Warrants"). Those warrants were issued as part of a private placements of its securities. The expiry dates of the February 2014 Warrants and March 2014 Warrants have been extended as follows:

February 13, 2014.

Number of Warrants: 6,300,000

Original Expiry Date of Warrants: July 13, 2015

New Expiry Date of Warrants: March 13, 2016

Exercise Price of Warrants: $0.25

March 6, 2014.

Number of Warrants: 2,470,666

Original Expiry Date of Warrants: August 7, 2015

New Expiry Date of Warrants: April 7, 2016

Exercise Price of Warrants: $0.25

All other terms of the February 2014 Warrants and the March 2014 Warrants remain unchanged.

About Petrolympic Ltd.

Petrolympic Ltd. ("Petrolympic" or the "Company") is a Canadian junior oil and gas company actively exploring for premium crude oil and natural gas in North America. The Company has an oil production asset in the prolific Maverick Basin of Texas, USA. The Company also holds an interest in a total of 754,216 hectares (1,863,668 acres) of oil and gas exploration permits in the Appalachian Basin of Quebec that include holdings in the St. Lawrence Lowlands and Gaspe Peninsula. The Company's holdings in the St. Lawrence Lowlands consist of a 30% interest in 217,370 hectares (536,941 acres) through a joint venture with Squatex Energy and Resources Inc. ("Squatex"), a 12% interest in 8,000 hectares (19,768 acres) through the Farmout Agreement with Canbriam Energy Inc., and a 100% interest in 56,622 hectares (139,913 acres) located over the Lowlands shallow carbonates platform on the south shore of the St. Lawrence River, less than 30 kilometers southwest of Montreal. These properties represent a major position in the Utica Lorraine and Trenton-Black River Plays. Petrolympic also maintains holdings in the Gaspé and Lower St. Lawrence regions, including a 30% interest in 431,339 hectares (1,065,839 acres) through a joint venture with Squatex and a 100% interest in a block of exploration permits totaling 40,885 hectares (101,029 acres) located between Rimouski and Matane prospective for hydrothermal dolomite hosted light oil.

Forward-Looking Statements

This press release includes certain "forward-looking information" within the meaning of the Securities Act (Ontario), including, but not limited to, statements as to timing and extent of exploration programs and the availability of exploration results. As such, forward-looking information addresses future events and conditions and so involves inherent risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Petrolympic documents filed from time to time with the Ontario Securities Commission and other regulatory authorities. Actual results could differ significantly from those currently projected as a result of, among those factors, adverse weather, regulatory changes, delays in receiving permits, accidents and delays in completing exploration activities not all of which are in the control of Petrolympic. The forward-looking information contained herein is Petrolympic's reasonable estimate today of future events and conditions, but no assurance can be given that such events or conditions will occur. The reader is cautioned not to rely on these forward-looking statements. Petrolympic disclaims any obligation to update these forward-looking statements.

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

15 May 2015

PETROLYMPIC COMPLETES NON-BROKERED PRIVATE PLACEMENT

PETROLYMPIC COMPLETES NON-BROKERED PRIVATE PLACEMENT TORONTO, ONTARIO (May 15, 2015) – Petrolympic Ltd. (TSX-V: PCQ) (the "Company") is
pleased to announce the completion of a non-brokered private placement (the "Private Placement") of 2,521,500 "flow-through" shares (the "Flow-Through Shares") at a price of $0.37 per Flow-Through Share and 384,600 units of the Company ("Units") at a price of $0.325 per Unit, for a total of gross proceeds of $1,057,950.

Each Unit consists of one common share of the Company (a "Unit Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional common share (a "Warrant Share") at a price of $0.45 per Warrant Share for a period of 18 months from the date of issuance. The proceeds from the Private Placement will be used to further the Company's exploration and drilling programs on its properties in the Gaspe region of Quebec. Recent activity in this area has
led to significant initial oil and gas production for other drillers as well as very strong test results within the Company's extensive Gaspe acreage.

As consideration for their services, Marquest Capital Markets and Secutor Capital Management Corp. received a cash finder's fees equal to 5% of the gross proceeds and that number of finder's warrants ("Finder's Warrants") which is equal to 5% of the total number of Units and Flow- Through Shares sold pursuant to the Private Placement, each finder's warrant exercisable into one common share of the Company (a "Finder's Warrant Share") for a period of 18 months from the date of issuance at a price of $0.325, in the case of Finder's Warrants issued for the subscribed
Units and, $0.37 in the case of Finder's Warrants issued for the subscribed Flow-Through Shares. The issued securities carry a four-month hold period under Canadian securities laws from the date of issuance.

The Company received a final approval of the TSX Venture Exchange for the issuance of the Flow-Through Shares, the Units and the Finder's Warrants and listing of the Flow-Through Shares, the Unit Shares, the Warrant Shares and the Finder's Warrant Shares pursuant to the Private Placement.

FORWARD-LOOKING STATEMENTS
This press release includes certain "forward-looking information" within the meaning of the Securities Act (Ontario), including, but not limited to, statements as to timing and extent of exploration programs and the availability of exploration results. As such, forward-looking information addresses future events and conditions and so involves inherent risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Petrolympic documents filed from time to time with the Ontario Securities Commission and other regulatory authorities. Actual results could differ significantly from those currently projected as a result of, among those factors, adverse weather, regulatory changes, delays in receiving permits, accidents and delays in completing exploration activities not all of which are in the control of Petrolympic. The forward-looking information contained herein is Petrolympic's reasonable estimate today of future events and conditions, but no assurance can be given that such events or conditions will
occur.

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

For more information, please contact:
Mendel Ekstein
Petrolympic Ltd.
exis@petrolympia.com

02 April 2015

Le Président de Petrolympic Commente le Budget du Québec et les Perspectives d’Avenir

TORONTO, ONTARIO (2 avril 2015) – Mendel Ekstein, Président et Chef de la Direction de Petrolympic Ltd. (TSX.V: PCQ), vient juste de formuler la déclaration suivante:

« Je suis fier de fournir aux actionnaires de Petrolympic un bref résumé des opportunités passionnantes et des événements qui se sont présentés d’eux-mêmes au cours des derniers mois.

Tout d'abord, je suis heureux de rapporter que le nouveau « Budget Leitao » 2015-16 pour le Québec (le « Budget ») identifie les hydrocarbures produits localement comme un élément critique du développement économique du Québec. En particulier, le Budget met en avant que le développement du potentiel gazier de la péninsule gaspésienne sera un moteur de création d’emploi et de richesse pour la région, et bénéficiera également à la Côte-Nord et aux Îles-de-la-Madeleine. Dans un effort pour rendre le gaz facilement disponible dans ces régions, le Budget inclut des dispositions pour des incitatifs et des subventions pour prolonger le réseau de gazoducs et pour développer des installations de gaz naturel liquéfié.

La mission de Petrolympic a toujours été de fournir au Québec une source d'énergie propre et produite localement. Avec la stratégie de développement et les dispositions environnementales contenues dans le nouveau Budget, nous estimons que l'approche du gouvernement du Québec atteint le bon équilibre entre la protection de l'environnement, la création d'emplois et le développement économique. Je crois que ce Budget apporte une perspective nouvelle et une stabilité à long terme à notre industrie locale, et nous permet d’entrer dans notre prochaine phase de développement avec les vents politiques dans notre dos.

Avec un financement suffisant en place, nous sommes maintenant bien positionnés pour accroître rapidement nos activités de tests, d'exploration et de forage au sein de notre vaste territoire dans le bassin appalachien du Québec. Les efforts d'exploration précédents ont conduit à la découverte d'un réservoir conventionnel de gaz naturel sur notre propriété détenue en entente d’opération conjointe dans la structure Massé, dont le gaz est riche en liquides et exempt de sulfure d'hydrogène. Des tests réalisés en fond de trou dans le puits Massé No 2 sont planifiés ce printemps pour confirmer la capacité de production du puits.

Plusieurs autres cibles de forage hautement prometteuses ont été identifiées et seront validées selon notre Programme en Partenariat tel qu’annoncé dans notre communiqué de presse du 17 février 2015. Il est extrêmement gratifiant de voir les nouvelles découvertes et les débits initiaux de pétrole générés par d’autres foreurs dans notre région (par exemple Junex et Pétrolia), nous donnant à tous un fort sentiment d’impatience et de confiance à mesure que nous complétons les étapes qui nous rapprochent de nos buts à long terme.

Nous sommes sincèrement reconnaissants pour l’appui de nos actionnaires et nous nous engageons à continuer à travailler diligemment en votre nom. »

À propos de Petrolympic Ltd.

Petrolympic Ltd. (« Petrolympic » ou la « Compagnie ») est une compagnie pétrolière et gazière canadienne junior active en exploration pour le pétrole et le gaz naturel en Amérique du Nord. La Compagnie détient des actifs de production pétrolière à court-terme dans le riche bassin pétrolier de Maverick au Texas, États-Unis. La Compagnie détient également un intérêt dans un total de 754 216 hectares (1 863 668 acres) de permis d’exploration pétrolière et gazière du bassin appalachien québécois, incluant des possessions dans les Basses-Terres du Saint-Laurent et la péninsule gaspésienne. Les possessions de la Compagnie dans les Basses-Terres du Saint-Laurent consistent en un intérêt de 30% dans 217 370 hectares (536 941 acres) par le biais d’une entente d’opération conjointe avec Ressources & Énergie Squatex Inc. (« Squatex »), un intérêt de 12% dans 8 000 hectares (19 768 acres) par le biais d’une entente d’affermage avec Canbriam Energy Inc., et un intérêt de 100% dans 56 622 hectares (139 913 acres) situés dans la plate-forme carbonatée des Basses-Terres moins de 30 kilomètres au sud-ouest de Montréal. Ces propriétés constituent une position majeure dans les plays de l’Utica, du Lorraine et du Trenton-Black-River. Petrolympic maintient également des possessions dans les régions de la Gaspésie et du Bas-Saint-Laurent, incluant un intérêt de 30% dans 431 339 hectares (1 065 839 acres) par le biais d’une entente d’opération conjointe avec Squatex et un intérêt de 100% dans un bloc de permis d’exploration pour un total de 40 885 hectares (101 029 acres) localisés entre Rimouski et Matane, une région prospective pour le pétrole présent dans des réservoirs de dolomies hydrothermales.

Énoncés prospectifs

Certaines déclarations faites aux présentes peuvent constituer des énoncés prospectifs. Ces déclarations se rapportent à des événements futurs ou à des résultats économiques futurs de Petrolympic Ltd. et comportent des risques, incertitudes et autres facteurs connus et inconnus, qui pourraient modifier de manière appréciable leurs résultats, rendements ou réalisations par rapport à ce qu’expriment ou laissent entendre les déclarations de Petrolympic Ltd. Les événements ou résultats réels pourraient être très différents. Petrolympic Ltd. décline toute intention ainsi que toute obligation de mettre à jour ces déclarations prospectives.

La Bourse de croissance TSX et son fournisseur de services de réglementation (tel que défini dans les Règles de la Bourse de croissance TSX-V) ne peuvent être tenus responsables de l'exactitude ou de la véracité du présent communiqué.

02 April 2015

Petrolympic's CEO Comments on the Quebec Budget and the Way Forward

TORONTO, ONTARIO (April 2, 2015) – Mendel Ekstein, Petrolympic Ltd. (TSX.V: PCQ) President and CEO, has just released the following statement:

“I am proud to provide Petrolympic shareholders with a brief summary of the exciting events and opportunities that have presented themselves over the last few months.

First off, I am happy to report that the new 2015-16 “Leitao Budget” for Quebec (the “Budget”) recognizes that locally produced hydrocarbons are a critical component of Quebec’s economic development. In particular, the Budget puts forth that the development of the gas potential in the Gaspe Peninsula will be a jobs and wealth creating engine for the region, and will also benefit the Cote-Nord and the Magdalen Islands. In an effort to make the gas readily available to these regions, the Budget includes provisions for incentives and subsidies to extend the pipeline infrastructure and to develop liquefied natural gas facilities.

Petrolympic’s mission has always been to deliver a clean, locally produced source of energy for Quebec. With the developmental strategy and environmental provisions contained in the new Budget, we feel that the Quebec government’s approach is striking the right balance between environmental protection, job creation and economic development. I believe the Budget brings new perspective and long term stability to our local industry, and allows us to enter our next phase of development with the political winds strongly at our back.

With ample funding now in place, we are poised to rapidly expand our testing, exploration, and drilling activities within our vast acreage in the Appalachian Basin of Quebec. Previous exploration efforts have led to the discovery of a conventional natural gas reservoir on our joint venture property in the Masse structure, yielding gas that is rich in liquids and devoid of hydrogen sulfide. Down hole testing in the Masse No 2 Well is planned for this spring to confirm its production capacity.

Several other highly promising drilling targets have been identified and will be validated according to our Partner Program as outlined in our February 17, 2015 press release. It is extremely gratifying to see the new discoveries and significant initial oil flows that other drillers are generating in our region (e.g., Junex and Petrolia), giving us all a great sense of anticipation and confidence as we take the next steps toward our long term goals.

We are truly thankful for our shareholders’ support and pledge to continue working diligently on your behalf.”

About Petrolympic Ltd.

Petrolympic Ltd. (“Petrolympic” or the “Company”) is a Canadian junior oil and gas company actively exploring for premium crude oil and natural gas in North America. The Company has an oil production asset in the prolific Maverick Basin of Texas, USA. The Company also holds an interest in a total of 754,216 hectares (1,863,668 acres) of oil and gas exploration permits in the Appalachian Basin of Quebec that include holdings in the St. Lawrence Lowlands and Gaspe Peninsula. The Company's holdings in the St. Lawrence Lowlands consist of a 30% interest in 217,370 hectares (536,941 acres) through a joint venture with Squatex Energy and Resources Inc. (“Squatex”), a 12% interest in 8,000 hectares (19,768 acres) through the Farmout Agreement with Canbriam Energy Inc., and a 100% interest in 56,622 hectares (139,913 acres) located over the Lowlands shallow carbonates platform on the south shore of the St. Lawrence River, less than 30 kilometers southwest of Montreal.  These properties represent a major position in the Utica Lorraine and Trenton-Black River Plays. Petrolympic also maintains holdings in the Gaspé and Lower St. Lawrence regions, including a 30% interest in 431,339 hectares (1,065,839 acres) through a joint venture with Squatex and a 100% interest in a block of exploration permits totaling 40,885 hectares (101,029 acres) located between Rimouski and Matane prospective for hydrothermal dolomite hosted light oil.

Forward-Looking Statements

This press release includes certain “forward-looking information” within the meaning of the Securities Act (Ontario), including, but not limited to, statements as to timing and extent of exploration programs and the availability of exploration results. As such, forward-looking information addresses future events and conditions and so involves inherent risks and uncertainties, as disclosed under the heading “Risk Factors” and elsewhere in Petrolympic documents filed from time to time with the Ontario Securities Commission and other regulatory authorities. Actual results could differ significantly from those currently projected as a result of, among those factors, adverse weather, regulatory changes, delays in receiving permits, accidents and delays in completing exploration activities not all of which are in the control of Petrolympic. The forward-looking information contained herein is Petrolympic's reasonable estimate today of future events and conditions, but no assurance can be given that such events or conditions will occur. The reader is cautioned not to rely on these forward-looking statements. Petrolympic disclaims any obligation to update these forward-looking statements.

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

27 March 2015

PETROLYMPIC COMPLETES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

TORONTO, ONTARIO (March 27, 2015) – Petrolympic Ltd. (TSX-V: PCQ) (the "Company") is pleased to announce that it is has completed the first tranche (the "First Tranche") of a private placement (the "Private Placement") of up to 3,378,387 "flow-through" shares (the "Flow-Through Shares") at a price of $0.37 per Flow-Through Share and up to 2,303,692 units of the Company ("Units") at a price of $0.325 per Unit, for maximum gross proceed of $2,000,000.

In the First Tranche of the Private Placement, the Company raised gross proceeds of $1,057,950 by issuing a total of 2,524,500 Flow-Through Shares and 384,600 Units.

Each Unit consists of one common share of the Company (a "Unit Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional common share (a "Warrant Share") at a price of $0.45 per Warrant Share for a period of 18 months from the date of issuance.

The proceeds from the Private Placement will be used to further the Company's exploration and drilling programs on its properties in the Gaspe region of Quebec. Recent activity in this area has led to significant initial oil and gas production for other drillers as well as very strong test results within the Company's extensive Gaspe acreage.

The Company expects to complete the second tranche of the Private Placement in the next few weeks.

As consideration for their services, Marquest Capital Markets and Secutor Capital Management Corp. received a cash finder's fees equal to 5% of the gross proceeds and that number of finder's warrants ("Finder's Warrants") which is equal to 5% of the total number of Units and Flow-Through Shares sold pursuant to the First Tranche of the Private Placement, each finder's warrant exercisable into one common share of the Company (a "Finder's Warrant Share") for a period of 18 months from the date of issuance at a price of $0.325, in the case of Finder's Warrants issued for the subscribed Units and, $0.37 in the case of Finder's Warrants issued for the subscribed Flow-Through Shares.  

The issued securities carry a four-month hold period under Canadian securities laws from the date of issuance. The issuance of the Flow-Through Shares, the Units and the Finder's Warrants and listing of the Flow-Through Shares, the Unit Shares, the Warrant Shares and the Finder's Warrant Shares pursuant to the Private Placement is subject to TSX Venture Exchange final approval.

FORWARD-LOOKING STATEMENTS

This press release includes certain "forward-looking information" within the meaning of the Securities Act (Ontario), including, but not limited to, statements as to timing and extent of exploration programs and the availability of exploration results. As such, forward-looking information addresses future events and conditions and so involves inherent risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Petrolympic documents filed from time to time with the Ontario Securities Commission and other regulatory authorities.  Actual results could differ significantly from those currently projected as a result of, among those factors, adverse weather, regulatory changes, delays in receiving permits, accidents and delays in completing exploration activities not all of which are in the control of Petrolympic. The forward-looking information contained herein is Petrolympic's reasonable estimate today of future events and conditions, but no assurance can be given that such events or conditions will occur.