Magnum Announces Provost Disposition Will Not Proceed

MAGNUM ENERGY INC. ("Magnum" or the "Corporation") (TSX VENTURE:MEN) Magnum
announces that closing of the previously announced transaction with Artisan
Energy Corporation ("Artisan") to sell Magnum's 50% working interest in the
Provost area of Alberta (the "Provost Asset") for consideration of $5.6 million
will not proceed. Despite Magnum granting numerous extensions to the Closing
Date, Artisan was unable to secure the financing necessary to close the
transaction. 


As per the terms of the Purchase and Sale Agreement between the respective
companies, Artisan remains solely responsible for the November 30, 2013 interest
payment to Magnum's debenture holders. 


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]
www.magnumenergyinc.com