Magnum Announces Closing First Tranche of Private Placement

MAGNUM ENERGY INC. ("Magnum" or the "Corporation") (TSX VENTURE:MEN) Magnum
announces that the company has closed the first tranche of the arranged
non-brokered private placement previously announced on May 28, 2014. Magnum has
issued an aggregate of 5,000,000 units for gross proceeds of $250,000. Each unit
consists of one common share of Magnum Energy Inc. and one non-transferable
share purchase warrant. Each whole warrant will entitle the holder to acquire
one common share at an exercise price of 10 cents for a period of 24 months from
the closing date of the private placement. All of the securities issued pursuant
to the private placement will be subject to a minimum four-month hold period.
The private placement and payment of any finder's fee are subject to acceptance
by the TSX Venture Exchange.


The net proceeds of the private placement will be used principally to work over
wells in Provost and Sedalia with production behind pipe. These work-overs are
primarily maintenance work overs addressing mechanical issues that are cyclical
in nature. These work-overs require no permitting and will begin within 7-10
days.


We seek Safe Harbor.

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Magnum Energy Inc.
Richard Nemeth
President & CEO
604-948-2688
[e-mail]


Magnum Energy Inc.
Jon Bey
Corporate Development
604-375-4488
[e-mail]
www.magnumenergyinc.com