Nextraction Announces Non-Brokered Private Placement

Nextraction Energy Corp. (TSX VENTURE:NE) (the "Company" or "Nextraction"),
announces that it intends to issue, through a non-brokered private placement
(the "Private Placement"), up to 5,333,333 units ("Units") at a price of $0.30
per Unit for aggregate gross proceeds of up to $1,600,000. Each Unit will
consist of one common share (a "Common Share") in the capital of the Company and
one non-transferable Common Share purchase warrant (a "Warrant"). Each Warrant
will entitle its holder to purchase one additional Common Share (a "Warrant
Share") at a price of $0.35 for a period of twenty-four months following the
date of closing. The Company may pay finder's fees on a portion of the Private
Placement of up to 6% of the aggregate proceeds received from places introduced
to the Company by the finder. 


The closing of the Private Placement is expected to be on or about March 2,
2012, subject to the receipt of all necessary regulatory approvals including
from the TSX Venture Exchange. Net proceeds from the Private Placement will be
used for repayment of the outstanding Anthem Loan, further development of the
Company's Provost Viking light oil project and general corporate purposes. The
Anthem Loan will be further extended until closing of the Private Placement. 


The Common Shares, Warrants and Warrant Shares issued or issuable under the
Private Placement will be subject to a four month hold period. 


This news release does not constitute an offer to sell or a solicitation to buy
securities in the United States. The securities described herein have not been
and will not be registered under the United States Act of 1933, as amended, and
may not be sold in the United States or to the benefit of a U.S. person absent
and exemption from the registration requirements of such Act. 


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
the Western Canadian Basin. The Company's model is the "next round of extraction
on known plays". Nextraction targets oil focused projects along trends with
known reserves that provide low risk, high return development opportunities in
both conventional and unconventional resource projects. 


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.