Arsenal Energy Inc. Announces Completion of Bought Deal Financing Including Exercise In Full of Over-Allotment Option

NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Arsenal Energy Inc. ("Arsenal" or the "Corporation") (TSX:AEI) announced today
that it has closed its previously announced bought deal financing of 799,400
common shares on a "flow-through share" basis at a price of $9.35 per
flow-through share ("Flow-Through Share"), which includes the exercise in full
of the over-allotment option of 104,200 Flow-Through Shares, for aggregate gross
proceeds of $7,474,390 (the "Financing").


The Financing was led by Acumen Capital Finance Partners Limited, on behalf of a
syndicate of underwriters including Industrial Alliance Securities Inc.,
National Bank Financial Inc. and PI Financial Corp. (collectively, the
"Underwriters").


The proceeds from the sale of the Flow-Through Shares will be used to incur
Canadian exploration expenses ("CEE") for the purposes of the Income Tax Act
(Canada) and such CEE will be renounced to subscribers for the 2014 tax year.


Arsenal is a junior oil and gas company engaged in the exploration for, and
development and production of natural gas and oil reserves primarily in Alberta
and Saskatchewan and North Dakota, U.S.A. Arsenal's common shares trade on the
Toronto Stock Exchange under the symbol "AEI". Arsenal now has 16,873,819 common
shares outstanding.


Forward-Looking Information

This news release contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks, uncertainties and
other factors that could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in this news release
includes statements with respect to the use of proceeds from the offering and
the renunciation of qualifying expenditures. Material assumptions and factors
that could cause actual results to differ materially from such forward-looking
information include the failure by the Corporation to renounce the qualifying
expenditures as planned. Although the Corporation believes that the material
assumptions and factors used in preparing the forward-looking information in
this news release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur. Arsenal disclaims any
intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, other than
as required by law.


THE SECURITIES SOLD HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT
REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS PRESS
RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO
BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH
OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Arsenal Energy Inc.
Tony van Winkoop
President & CEO
[phone]
www.arsenalenergy.com