Junex Announces a Milestone Letter of Intent with Ressources Quebec for Oil Exploration on Anticosti Island

Junex Inc. ("Junex") (TSX VENTURE:JNX) is pleased to announce the signature of a
Letter of Intent (the "Agreement") with Ressources Quebec ("RQ") whose goal is
to complete the evaluation of the petroleum potential of Junex's exploration
permits on Anticosti Island. This 233,275 acre-sized landholding is 100% held by
Junex and contains, according to Netherland, Sewell & Associates, Inc., a
resource potential of 12.2 billion barrels of oil initially-in-place in the
Macasty Shale(i).


According to this Agreement, the partners commit, if the financing is completed,
to perform an exploration program in two phases for a maximum total amount of
$90 million financed by RQ and a third party industry player who remains to be
identified and who will be at arm's length. In exchange for its investment,
Ressources Quebec and the industry partner will earn an interest of 80% in a
special purpose vehicle created for the project (the "SPV") which will control
100% of Junex's Anticosti Island permits.


Phase 1 of the exploration program will be composed of nine (9) wells for which
the budget is estimated at $50 million:




--  the drilling of three (3) exploration wells that will evaluate the
    Macasty Shale and deeper conventional targets; 
--  the drilling of four (4) stratigraphic tests; and 
--  the drilling, completion and massive fracture stimulation of two (2)
    horizontal wells drilled into the Macasty Shale (with a 1,000 metre-long
    horizontal leg and 8 stages of fracture stimulation in each well).



The exploration program for Phase 2 will be defined after the completion of
Phase 1 and will be subject to approval of the SPV's Board of Directors to
proceed with Phase 2. RQ and the third party will finance this phase up to the
financial commitment of $90 million, and, thereafter, the partners will finance
the project according to their respective working interest levels.


This Agreement is subject to the conclusion of an accord with a third party
industry player by October 31, 2014, at the latest.


About the Petroleum Potential on Junex's Permits on Anticosti

Junex's permits on Anticosti are principally situated in the Deep Fairway. The
evaluation of the petroleum potential of these permits was performed by
Netherland, Sewell & Associates, Inc., ("NSAI"), a firm of worldwide petroleum
consultants based in Texas, who had placed their Best Estimate of the
undiscovered shale oil initially-in-place ("OIIP") volume for the Macasty Shale
on Junex's acreage at 12.2 billion barrels (see Junex's September 28, 2011 press
release for more details about NSAI's report).


About Junex

Junex is a junior oil and gas exploration company that holds exploration rights
on approximately 5.2 million acres of land located in the Appalachian basin in
the Province of Quebec. The company is in the heart of the Utica Shale gas
discovery located in the St. Lawrence Lowlands and holds a significant
land-package on the Anticosti Island where an independent report has provided
their Best Estimate of the undiscovered shale oil initially-in-place ("OIIP")
volume for the Macasty Shale on all five of Junex's permits on Anticosti Island
at 12.2 billion barrels. In parallel to its exploration efforts in Quebec and
expansion of its exploration activities elsewhere, the company operates a
drilling services division. 


About Ressources Quebec

As a subsidiary of Investissement Quebec, Ressources Quebec is the gateway for
companies seeking to invest in the mining and oil and gas industries. Ressources
Quebec supports resource companies at every stage of their projects, from
exploration and development through to processing. It offers a full range of
financial products, including investments in equity, debentures and various
types of loans.


Forward-Looking Statements and Disclaimer

Certain statements in this press release may be forward-looking. Forward-looking
statements are based on the best estimates available to Junex at the time and
involve known and unknown risks, uncertainties and other factors that may cause
Junex's actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. A description of the risks affecting Junex's
business and activities appears under the heading "Risks and Uncertainties" on
pages 8 to 11 of Junex's 2010 annual management's discussion and analysis, which
is available on SEDAR at www.sedar.com. No assurance can be given that any
events anticipated by the forward-looking information in this press release will
transpire or occur, or if any of them do so, what benefits that Junex will
derive therefrom. In particular, no assurance can be given as to the future
financial performance of Junex. Junex disclaims any intention or obligation to
update or revise any forward-looking statements in order to account for any new
information or any other event. The reader is warned against undue reliance on
these forward-looking statements.


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. 




(i)  See September 28, 2011 press release for more details about the NSAI   
     report                                                                 



FOR FURTHER INFORMATION PLEASE CONTACT: 
Junex Inc.
Mr. Peter Dorrins
President and CEO
418-654-9661


Junex Inc.
Mr. Dave Pepin
Vice President - Corporate Affairs
418-654-9661