Cumberland Oil & Gas Ltd. Announces Graduation to A Tier 1 Listing on the TSX Venture Exchange

Cumberland Oil & Gas Ltd. ("Cumberland") (TSX VENTURE:COG) is pleased to
announce that its application for graduation to a Tier 1 issuer on the TSX
Venture Exchange (the "TSXV") has been accepted by the TSXV. Cumberland will
commence trading as a Tier 1 issuer on the TSXV on April 27, 2010.


As a result of Cumberland's graduation to a Tier 1 issuer, the common shares
("Common Shares") of Cumberland (and its predecessor entities) previously
deposited in escrow pursuant to the rules of the TSXV will now be governed by
the release provisions of "Tier 1 Value Escrow". As such, an aggregate of
1,142,581 Common Shares will be immediately releasable from escrow and an
aggregate of 8,569,356 Common Shares that will remain in escrow will be released
from escrow as follows: 2,856,452 Common Shares are releasable September 10,
2010; 2,856,452 Common Shares are releasable on March 10, 2011; and the
remaining 2,856,452 Common Shares are releasable on September 10, 2011.


Reader Advisory

Certain information regarding Cumberland set forth in this news release
including the release of Common Shares from escrow and the date of such releases
contains forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond Cumberland's
control, including without limitation, regulatory changes and regulatory
approvals, including the TSXV. As a consequence, actual results may differ
materially from those anticipated from the forward-looking statements. Readers
are cautioned that the foregoing list of factors is not exhaustive. Furthermore,
the forward-looking statements contained in this news release are made as at the
date of this news release and Cumberland does not undertake any obligation to
update publicly or to revise any of the forward-looking statements, whether as a
result of new information, future events or otherwise, except as may be required
by applicable securities laws.