Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is
pleased to announce that it has today filed its audited consolidated condensed
financial statements for the year ended March 31, 2014 and the related
management's discussion and analysis ("MD&A") on the Company's profile on the
System for Electronic Document Analysis and Retrieval ("SEDAR") website at
www.sedar.com.


Year End Summary



----------------------------------------------------------------------------
                                           2014          2013          2012 
                                              $             $             $ 
----------------------------------------------------------------------------
Petroleum and natural gas revenues    9,078,669     4,137,099     3,637,857 
----------------------------------------------------------------------------
Net income (loss)                     2,802,733     2,091,473    (4,013,722)
----------------------------------------------------------------------------
Income (loss) per diluted share           0.012         0.010        (0.027)
----------------------------------------------------------------------------
Total assets                         61,524,066    39,856,749    20,079,933 
----------------------------------------------------------------------------



Contact experienced significant growth during the 2014 fiscal year, with
petroleum and natural gas revenues more than doubling and total assets
increasing by more than 50% when compared to the 2013 year end. 


Fourth quarter Highlights



--  Contact completed and commissioned its compression and condensate
    stabilization facility located at 16 - 7 - 63 - 5W6. The facility has
    since demonstrated the ability to receive up to 14 mmcf/d of natural gas
    production and associated condensate production which can be expanded as
    required. 
    
--  Contact drilled its first well in the Upper Montney D4 interval located
    at 02/14 - 30 - 63 - 5W6 (the "02/14-30 Well"). Subsequent to year end,
    the well was completed and tied in to existing infrastructure. 
    
--  Contact began drilling the first well on its three-well pad site with
    drilling continuing through year end. All three wells have been
    successfully drilled and completion operations are currently underway. 
    
--  Contact's credit facilities were increased in the quarter to $7.7
    million including a $4.5 million operating facility and a non-revolving
    acquisition and development demand loan of $3.2 million, and again
    subsequent to year end to an aggregate of 9.7 million. 
    
--  Contact was included in the 2014 TSX Venture 50(R) as one of the top 10
    performing companies in the oil and gas sector 



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.


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Contact Exploration Inc.
Steve Harding
President and CEO
(403) 771-1091
(403) 695-3915 (FAX)
sharding@contactexp.com
www.contactexp.com
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