Wild Stream Exploration Inc. Announces the Closing of Its Bought Deal Financing

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


Wild Stream Exploration Inc. ("Wild Stream" or the "Company") (TSX VENTURE:WSX)
is pleased to announce it has closed its previously announced bought deal
financing (the "Offering"), through a syndicate of underwriters co-led by Peters
& Co. Limited and National Bank Financial Inc., and including FirstEnergy
Capital Corp., Paradigm Capital Inc., CIBC World Markets Inc., GMP Securities
L.P. and Desjardins Securities Inc. (collectively, the "Underwriters"). The
Offering consisted of 7,700,000 common shares (including 700,000 common shares
that were issued pursuant to the exercise of the Underwriters' over-allotment
option, which was exercised in full) issued at a price of $10.85 for aggregate
gross proceeds of $83.5 million.


The net proceeds of the Offering will be used to initially reduce bank
indebtedness under Wild Stream's credit facility, and for general working
capital purposes. With the completion of the Offering, Wild Stream plans to
increase its previously announced 2011 capital budget of $95 million by an
additional $25 million, the majority of which will be directed to Wild Stream's
Shaunavon property. 


WARNING

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


FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. The use of any of the
words "current", "scheduled", "will", "prior to", "estimate", "anticipate",
"believe", "potential", "should", "forecast", "future", "continue", "may",
"expects", "project", and similar expressions are intended to identify
forward-looking statements. Specifically, this press release contains
forward-looking statements regarding the use of proceeds of the Offering and the
increase of Wild Stream's capital budget. The forward looking statements
contained herein are based on certain assumptions of management, including, but
not limited to, assumptions regarding: the use of proceeds of the Offering; Wild
Stream's future work programs; the timing and amount of capital expenditures;
future commodity prices and royalty rate; and the availability of drilling and
related equipment. 


Since forward-looking statements address future events and conditions, by their
very nature they involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, the failure to obtain
necessary regulatory approvals, risks associated with the oil and gas industry
in general (e.g., operational risks in development, exploration and production;
delays or changes in plans with respect to exploration or development projects
or capital expenditures; the uncertainty of reserve estimates; the uncertainty
of estimates and projections relating to production, costs and expenses, and
health, safety and environmental risks), commodity price and exchange rate
fluctuations and uncertainties resulting from potential delays or changes in
plans with respect to exploration or development projects or capital
expenditures. Certain of these risks are set out in more detail in Wild Stream's
Annual Information Form which has been filed on SEDAR and can be accessed at
www.sedar.com.


The forward-looking statements contained in this document are made as of the
date hereof and Wild Stream 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.