Petro Occidente Announces Conditional Approval of Qualifying Transaction and Private Placement

Petro Occidente Capital Corp. (TSX VENTURE:OPP.P) (the "Company" or "Petro
Occidente"), a capital pool company pursuant to Policy 2.4 of the TSX Venture
Exchange (the "Exchange"), is pleased to announce that it has received
conditional acceptance from the Exchange to its previously announced Qualifying
Transaction. Pursuant to a letter agreement dated March 7, 2013 among the
Company, Panarc Resources Ltd., Manson Creek Resources Ltd. ("Manson"), an
Exchange listed company (as amended, the "Agreement"), Petro Occidente will
acquire (the "Acquisition") 100% of Manson's interest in an option to acquire
the Uptown Gold Project located in the Northwest Territories Mining District of
the Northwest Territories, approximately three kilometers north of the city of
Yellowknife (the "Property").


On closing of the Qualifying Transaction, which is expected to occur on August
12, 2013, Petro Occidente will file Articles of Amendment with the Alberta
Registrar to change its name to North Sur Resources Inc. and will be listed as a
"Tier 2" mining issuer on the Exchange. The Company will be a natural resource
company engaged in the acquisition, exploration and development of mineral
properties, with its primary focus on the Property. 


The Company is also pleased to announce that it has received the Exchange's
conditional acceptance to the previously announced non-brokered private
placement (the "Financing") of up to 5,000,000 units ("QT Units") at $0.10 per
QT Unit for gross proceeds of up to $500,000. Each QT Unit to consist of one
common share in the capital of the Company (a "Common Share") and one-half of
one common share purchase warrant (each whole common share purchase warrant, a
"QT Warrant"). Each QT Warrant shall entitle the holder to acquire one
additional Common Share at an exercise price of $0.20 for a period of one year
from the date of closing of the Financing. In accordance with the policies of
the Exchange, the Company may pay cash finder's fees of up to 7% of amount
raised under the Financing and/or issue finder's warrants ("Finder's Warrants")
in an amount equal to up to 7% of QT Units sold. Any Finder's Warrants issued
shall be exercisable at the same price and term as the QT Warrants. The closing
of the Financing is scheduled to take place concurrently with the closing of the
Qualifying Transaction.  


The Company has filed a Filing Statement dated July 30, 2013 in respect of the
Qualifying Transaction (the "Filing Statement") under its profile on the SEDAR
website at www.sedar.com. As previously announced, the Company has also filed a
technical report prepared by Aurora Geosciences Ltd. on the Property. 


For further information, please refer to the Filing Statement filed on SEDAR for
details about the Qualifying Transaction and the Financing. 


In accordance with Exchange policies, the Common Shares are currently halted
from trading. The Common Shares will remain halted until completion of the
Qualifying Transaction. 


Completion of the Qualifying Transaction is subject to a number of conditions,
including but not limited to final Exchange acceptance. Where applicable, the
transaction cannot close until the required approvals are obtained. There can be
no assurance that the transaction will be completed as proposed or at all. 


Investors are cautioned that, except as disclosed in the Filing Statement, any
information released, or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities of
a capital pool company should be considered highly speculative. 


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available. 


This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the prospective Qualifying
Transaction of the Company, including, without limitation, the Financing and the
Company's focus post-Qualifying Transaction. Although the Company believes in
light of the experience of its officers and directors, current conditions and
expected future developments and other factors that have been considered
appropriate that the expectations reflected in these forward-looking statements
are reasonable, undue reliance should not be placed on them because the Company
can give no assurance that they will prove to be correct. 

Forward-looking statements involves known and unknown risks, uncertainties,
assumptions and other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking information. The terms
and conditions of the prospective Qualifying Transaction may change based on the
success of the Financing, regulatory and third party comments, consents and
approvals and the ability to meet the conditions of the Qualifying Transaction
in the required timeframes. 


The forward-looking statements contained in this press release are made as of
the date hereof and the Company undertakes no obligations to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


Neither the 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: 
Petro Occidente Capital Corp.
Douglas Porter
[phone]
[phone] (FAX)
[e-mail]