Big Sky Petroleum Extends Warrant Expiry Date

Big Sky Petroleum Corporation (TSX VENTURE:BSP) has received conditional
approval from the TSX Venture Exchange to extend the term of certain warrants
which would otherwise expire on October 25, 2012.


1,560,000 warrants granted on April 25, 2011 with the original expiry date of
October 25, 2012, are now extended to expire on October 25, 2013, with each
warrant entitling the holder to purchase one common share of the Company at
$0.45 per share.


Sam Nastat, President, commented that, "Our shareholders have been adversely
affected by the poor financial market conditions and, by extending the term of
these warrants, Big Sky has the opportunity to receive the funds from the
exercise of the warrants, while giving our loyal shareholders a better
opportunity to exercise the warrants."


About Big Sky

Big Sky is an oil and gas exploration and development company based in
Vancouver, B.C., with its main focus on the exploration and development of oil
and gas in the Alberta Basin, commonly referred to as the Bakken source system.
Big Sky's operations cover three separate land packages in Toole and Glacier
Counties, Montana, of which Big Sky has a 33.33% interest.


Sam Nastat, President

This press release contains "forward-looking information". Such forward-looking
statements reflect our current views with respect to future events and are
subject to certain risks, uncertainties and assumptions, including, the risks
and uncertainties outlined in our most recent financial statements and reports
and registration statement filed with the Canadian securities administrators
(available at www.sedar.com). Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those anticipated, believed, estimated or expected.