Nextraction Announces Closing of $712,500 Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES


Nextraction Energy Corp. (TSX VENTURE:NE) (the "Company") is pleased to announce
the successful completion of a non-brokered private placement (the "Private
Placement") of 2,375,000 units ("Units") of the Company at a price of $0.30 per
Unit for aggregate gross proceeds to the Company of $712,500. Each unit consists
of one common share (a "Common Share") in the capital of the Company and
one-half of one non-transferable Common Share purchase warrant (each whole
warrant, a "Warrant"). Each whole Warrant entitles its holder to purchase one
additional Common Share (a "Warrant Share") at a price of $0.40 until November
3, 2012, being twelve months following the date of closing.


The Common Shares, Warrants and if applicable, Warrant Shares issued or issuable
under the Private Placement will be subject to a four month hold period which
will expire March 4, 2012.


The Company has agreed to pay a cash finder's fee of approximately $28,236 to
certain qualified registrants in connection with the non-brokered private
placement. These fees represent 6% of the gross proceeds raised from investors
introduced by the respective finders.


For further information regarding the financing, please refer to Nextraction's
press release dated may October 20, 2011.


Net proceeds from the Private Placement will be used for further development of
the Company's Viking light oil prospects in the Provost Pool of south eastern
Alberta. The Company recently announced the successful completion of its first
horizontal well in the Provost Field (see news release dated October 6, 2011)
and the amendment to its Joint Venture Agreement (see news release dated October
31, 2011).


In addition to developing the Provost light oil pool, the Company is also in
production at its Pinedale Anticline resource play in Wyoming and is evaluating
horizontal shale gas development on its lands in the southern Appalachian Basin
of the eastern United States.


On behalf of the Board of Nextraction Energy Corp.

Mark S. Dolar, President and CEO

About Nextraction Energy Corp.

Nextraction Energy Corp. is a Canadian junior oil and natural gas company
engaged in the exploration and development of oil and natural gas resources in
North America. The Company's model is the "next round of extraction on known
plays." Nextraction targets projects along trends with known reserves that
provide low risk, high return development opportunities in both conventional and
unconventional resource projects. In addition to the Provost pool, the Company
is producing light oil and liquids rich gas at its Pinedale Anticline property
in Wyoming. The Company also owns rights to develop shale gas in the southern
Appalachian Basin of the eastern United States.


READER ADVISORY

Certain statements made and information contained herein may constitute
"forward-looking statements" or "forward- looking information" within the
meaning of applicable securities legislation. These statements relate to future
events or the Company's future performance. Often, but not always,
forward-looking statements or information can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes" or variations of such words and phrases or words and
phrases that state or indicate that certain actions, events or results "may",
"may have", "could", "would", "might" or "will" be taken, occur or be achieved.
Although management believes that the assumptions made and the expectations
represented by such statements or information are reasonable, there can be no
assurance that a forward-looking statement or information herein will prove to
be accurate. Forward-looking statements and information by their nature are
based on assumptions and involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or achievements,
or industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. These statements speak only as of the date of this Press Release and
are expressly qualified, in their entirety, by this cautionary statement.