Kallisto Announces Q1 2013 SEDAR Filings, Signing of Minnehik Farmout Agreement and Updated Corporate Presentation

Kallisto Energy Corp. (TSX VENTURE:KEC) ("Kallisto" or the "Company") is pleased
to announce it has filed its Condensed Interim Consolidated Financial Statements
for the three months ended March 31, 2013 and the accompanying Management's
Discussion and Analysis on SEDAR. These documents are available for viewing
under Kallisto's profile at www.sedar.com.


MINNEHIK FARMOUT AND SETTLEMENT AGREEMENT

The Company also announces that it has entered into a Farmout and Settlement
Agreement (the "Agreement") with a company with which it holds secured loan
facilities ("Loanco") pursuant to which the Company will participate in the
drilling of up to two wells targeting Cardium light oil on certain lands in the
Minnehik - Buck Lake area of Alberta by paying 62.5% of the costs to drill,
complete and equip or abandon the wells, thereby earning a 75% working interest
in up to two sections of land. The combination of Kallisto's capital and working
interest participation and other considerations contained in the Agreement will
result in full satisfaction of Loanco's outstanding obligations under its loan
facilities. This transaction is subject to the approval of the TSX Venture
Exchange.


Kallisto expects to spud the first well at Minnehik by July 1, 2013.

CORPORATE PRESENTATION

Kallisto also announces that an updated corporate presentation has been placed
on the Company's website at www.kallistoenergy.com/presentations. The updated
presentation contains details on Kallisto's asset base and the Company's
multiple near term drilling opportunities, including:




--  Elkton light oil at Crossfield; 
--  Cardium light oil at Minnehik; 
--  Shaunavon medium oil at Chambery, Saskatchewan; and 
--  Doe Creek light oil at Valhalla.



Kallisto is a Calgary-based junior resource company engaged in the acquisition,
exploration, development, exploitation and production of oil and natural gas,
primarily in Alberta.


Forward Looking Information

The reader is advised that some of the information contained herein may
constitute forward looking statements within the meaning assigned by National
Instrument 51-102 and other relevant securities legislation. It includes, but is
not limited to, statements with respect to earning a working interest on certain
Minnehik, Alberta lands and the Company's future drilling opportunities.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate", "scheduled",
"potential", or other similar words, or statements that certain events or
conditions "may", "should" or "could" occur. Forward-looking information is
based on the Company's expectations regarding its future growth, results of
operations, production, future capital and other expenditures (including the
amount, nature and sources of funding thereof), competitive advantages, plans
for and results of drilling activity, environmental matters, business prospects
and opportunities. Such forward-looking information reflects management's
current beliefs and assumptions and is based on information currently available
to it. The reader is cautioned that assumptions used in the preparation of such
information, although considered reasonable by the Company at the time of
preparation, may prove to be incorrect and readers are cautioned not to place
undue reliance on forward-looking information, which speaks only as of the date
hereof. The Company does not undertake any obligation to release publicly any
revisions to forward-looking information contained herein to reflect events or
circumstances that occur after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required under applicable securities
laws.


Forward-looking information involves significant known and unknown risks and
uncertainties. A number of factors could cause actual results to differ
materially from the results discussed in the forward-looking information
including risks associated with the impact of general economic conditions,
industry conditions, governmental regulation, volatility of commodity prices,
currency fluctuations, imprecision of reserve and resource estimates,
environmental risks, competition from other industry participants, the lack of
availability of qualified personnel or management, stock market volatility and
the Corporation's ability to access sufficient capital from internal and
external sources. Additional risks and uncertainties are described in the
Company's Annual Information Form dated April 30, 2013 which is filed on SEDAR
at www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kallisto Energy Corp.
Greg Florence
Chief Financial Officer
[phone]