Iona Energy Engages Investor Relations Firm

Iona Energy Inc. (the "Corporation") (TSX VENTURE:INA) is pleased to announce
that it has retained Ricciardi & Associates Inc. ("R&A"), a Calgary based
investor relations firm, to provide the Corporation with introductions to market
participants, including brokers, analysts and investment groups, to assist the
Corporation with the preparation of investor documents and to assist the
Corporation with shareholder communications. 


Pursuant to the terms of an investor relations agreement (the "Agreement") dated
effective January 10, 2013 between the Corporation and R&A, R&A will be paid a
fee of $7,500 per month by the Corporation for six months and will be granted
175,000 stock options to purchase common shares of the Corporation ("Options")
at an exercise price of $0.59 per share, to be granted in accordance with the
terms of the Agreement and the Corporation's stock option plan. The Agreement is
for a 6 month term, effective from January 10, 2012 with an option to renew the
Agreement for an additional 6 months. The Agreement may be terminated by either
party upon thirty (30) days' notice in writing prior to the expiry of the term
of the Agreement. 


R&A is a Calgary-based investor relations firm led by David Ricciardi, CFA.
Prior to forming R&A, Mr. Ricciardi worked at Clarus Securities Inc. and
Jennings Capital Inc. as a research analyst specializing in the oil and gas
industry. Mr. Ricciardi holds a Bachelor of Commerce from the University of
Calgary and also has his Chartered Financial Analyst designation. 


The Agreement and the related stock option grant are subject to TSX Venture
Exchange approval. 


About Iona Energy

Iona is an oil and gas exploration, development and production company focused
on oil and gas development and exploration in the United Kingdom's North Sea.


This news release contains forward-looking statements that involve risks and
uncertainties. Forward-looking statements or information are based on current
expectations, estimates and projections that involve a number of risks and
uncertainties which could cause actual results to differ materially from those
anticipated by the Corporation. The forward-looking statements or information
contained in this news release are made as of the date hereof and the
Corporation does not undertake any 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Iona Energy Inc.
Neill A. Carson
Chief Executive Officer
+011 (44) 7919 057989


Iona Energy Inc.
Brad G. Gunn
Chief Financial Officer
[phone]


Ricciardi & Associates Inc.
David Ricciardi
President & Chief Executive Officer
[phone]