Contact Announces Closing of Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is
pleased to announce that it has closed its previously announced brokered private
placement (the "Private Placement") pursuant to which it has issued 14,009,616
common shares ("Common Shares") of the Company at a price of $0.26 per Common
Share and 9,495,000 Common Shares issued on a "flow-through" basis pursuant to
the provisions of the Income Tax Act (Canada) (the "Flow-Through Shares") at an
issue price of $0.30 per Flow-Through Share for aggregate gross proceeds of
$6,491,000.00 (the "Private Placement"). Integral Wealth Securities Limited led
a syndicate of agents, which included Dundee Securities Ltd., MGI Securities
Inc. and Beacon Securities Ltd. (collectively, the "Agents"), in respect of the
Private Placement and the Agents were paid a cash commission equal to 7% of the
aggregate gross proceeds raised by the Company. 


The securities issued pursuant to the Private Placement are subject to a
four-month hold period from the date hereof, which expires on December 9, 2013.


Proceeds from the Private Placement will be used to fund the Company's drilling
and operational activity in the East Kakwa Montney Project area in the Deep
Basin in Alberta and for general corporate purposes. In particular, Contact will
incur eligible Canadian Exploration Expenses (within the meaning of the Income
Tax Act (Canada)), in an amount equal to the aggregate subscription price for
the Flow-Through Shares, by December 31, 2014, and renounce such expenses to
purchasers of Flow-Through Shares effective December 31, 2013.


About Contact Exploration Inc.

Contact Exploration Inc. is a public oil and gas company which has a long-term
history of operating in Atlantic Canada and has recently demonstrated success in
Alberta's liquids-rich Montney Formation tight gas play. For more information,
please see the Company's website: www.contactexp.com. 


Forward Looking Information

This press release contains forward looking statements. More particularly, this
press release contains statements concerning the anticipated use of the proceeds
of the Private Placement. Although Contact believes that the expectations
reflected in these forward looking statements are reasonable, undue reliance
should not be placed on them because Contact can give no assurance that they
will prove to be correct. Since forward looking statements address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. The intended use of the proceeds of the Private Placement by
Contact might change if the board of directors of the Company determines that it
would be in the best interests of Contact to deploy the proceeds for some other
expenditures.


The forward looking statements contained in this press release are made as of
the date hereof and Contact undertakes no obligation 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.


The securities offered have not been and will not be registered under the United
States Securities Act of 1933, as amended and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirement. 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 jurisdiction in which such offer, solicitation or sale would
be unlawful.


Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the Exchange) accepts responsibility for the
adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Contact Exploration Inc.
Steve Harding
President and CEO
[phone]
[phone] (FAX)
[e-mail]
www.contactexp.com