Steven Cloutier Announces Acquisition of Common Shares of Cumberland Oil & Gas Ltd.

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


On February 26, 2010, each of Cumberland Oil & Gas Ltd. (TSX VENTURE:COG),
Latigo Capital Corporation, Warnic 1 Enterprises Ltd., Valentine Ventures Corp.
and Blackwater Capital Corp. completed an amalgamation (the "Amalgamation")
resulting in the creation of a new company, Cumberland Oil & Gas Ltd. ("COG").
Subsequent to closing of the Amalgamation, Mr. Cloutier held 4,006,431 common
shares of COG representing approximately 12.4% of the then issued and
outstanding common shares of COG.


Mr. Cloutier acquired an additional 10,000 common shares ("Purchased Shares") of
COG at $0.20 per share pursuant to open market purchases through the facilities
of the TSX Venture Exchange (the "Acquisition") on August 31, 2010. The
Purchased Shares represent approximately 0.03% of the outstanding common shares
of COG.


Following completion of the Acquisition, Mr. Cloutier holds 4,016,431 common
shares of COG representing approximately 11.26% of the outstanding common shares
of COG.


Mr. Cloutier acquired the common shares of COG for investment purposes. Mr.
Cloutier may in the future take such actions in respect of his shareholdings in
COG as he may deem appropriate in light of the circumstances then existing,
including the purchase of additional shares or other securities of COG through
open market purchases or privately negotiated transactions, or the sale of all
or a portion of his holdings in the open market or in privately negotiated
transactions to one or more purchasers.


A copy of Mr. Cloutier's related early warning report filed with the applicable
securities commissions and further information may be obtained by contacting
Steven Cloutier.