Verona Development Corp. Agrees to Sell Gainsborough Leases/Settles Lawsuit

Verona Development Corp. (TSX VENTURE:VDC.H) ("Verona" or "the Company") has
entered into an agreement with Canadian Natural Resources ("CNR") to sell its
60% working interest in two oil and natural gas leases in the Gainsborough South
area of Saskatchewan to CNR, the owner of the remaining 40% working interest,
for total consideration of $671,953. CNR is a general partnership managed by
Canadian Natural Resources Limited. The proposed transaction will settle the
litigation commenced by CNR against the Company. The background to the
litigation and the agreement is described in the Company's March 1, 2013 news
release.


The agreement provides for a $75,000 cash payment to Verona on Closing, which is
scheduled for April 29, 2013. The balance of the purchase price will be
satisfied by way of set-off of $596,953.16 claimed by CNR for dewatering and
effluent treatment charges. Completion of the proposed sale is subject to
acceptance by the NEX Board of the TSX Venture Exchange.


On Behalf of the Board of Directors 

VERONA DEVELOPMENT CORP. 

Gurminder Sangha, Director

FOR FURTHER INFORMATION PLEASE CONTACT: 
Verona Development Corp.
Gurminder Sangha
Director
[phone]
[phone] (FAX)
www.veronadevelopment.com