NuLoch Resources Closes $28.1 Million Bought Deal Financing

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THE UNITED STATES.


NuLoch Resources Inc. ("NuLoch") (www.nuloch.ca) (TSX VENTURE:NLR.A) (TSX
VENTURE:NLR.B) reports that it has closed its previously announced "bought deal"
equity financing (the "Offering") with a syndicate of underwriters led by
Canaccord Genuity Corp. and including Raymond James Ltd., Wellington West
Capital Markets, and Clarus Securities Inc. (the "Underwriters").


The Offering consisted of 16,000,000 Class A common shares of NuLoch (the
"Common Shares") at a price of $1.25 per Common Share and 5,400,000 Class A
common shares of NuLoch issued on a flow-through basis (the "Flow-Through
Shares") at a price of $1.50 per Flow-Through Share. This transaction was
previously announced on September 23, 2010. The Offering grants the Underwriters
an option to acquire 2,400,000 Common Shares at $1.25 per Common Share on or
before November 13, 2010 for market stabilization and over-allotment purposes.
As a part of their compensation, the Underwriters have been issued compensation
options entitling the Underwriters to subscribe for 642,000 Common Shares at
$1.25 per Common Share on or before July 14, 2011. In the event that the
Underwriters exercise their over-allotment option, they will receive additional
compensation options entitling them to purchase that number of Common Shares
that is equal to 3% of the number of Common Shares issued pursuant to the
over-allotment option at an exercise price equal to $1.25 for a period of 9
months from the date of closing of the over-allotment option.


The proceeds received by NuLoch from the sale of the Flow-Through Shares will be
used to incur eligible Canadian exploration expenses. The proceeds received by
NuLoch from the sale of the Common Shares will be used to fund the exploration
and development activities of the Corporation with particular emphasis on
development of its properties at Tableland, Saskatchewan and Divide and Burke
counties in North Dakota and for general working capital purposes.


NuLoch now has 117,526,038 Class A common shares and 652,500 Class B common
shares issued and outstanding.


ADVISORIES

Certain information set forth in this press release contains forward-looking
statements concerning the anticipated use of proceeds of the Offering that
assumes the existence of certain conditions with respect to the capital
expenditure program of NuLoch, general economic conditions and commodity prices.
In each case, the risk factors that could cause actual results to vary from
results expressed or implied by the forward looking statements contained in this
press release are primarily events beyond NuLoch's control. These
forward-looking statements may prove to be incorrect and undue reliance should
not be placed on them. They are made as of the date hereof and unless otherwise
required by applicable law, NuLoch disclaims any intention or obligation to
update or revise such forward-looking statements, whether as a result of new
information, future events or otherwise.