RedWater Energy Corp. (TSX VENTURE:RED) ("RedWater") announced today, that its
board of directors has approved the grant of 439,750 stock options to certain
officers, directors and consultants of RedWater at an exercise price of $0.48
per common share expiring on March 14, 2021.


RedWater currently has 24,599,221 issued and outstanding common shares and
accordingly can grant up to 2,459,922 stock options. RedWater currently has
2,434,750 stock options outstanding.


Business of RedWater Energy Corp.

RedWater Energy Corp. is a junior oil and gas exploration and development
company. RedWater is engaged in the acquisition, enhancement and exploration of
conventional oil and gas projects in Western Canada with a focus on developing
high working interest light oil opportunities. RedWater's core properties are
located in Redwater, Westlock, and Fairydell-Bon Accord areas of Alberta.
www.redwaterenergy.com.


The information in this news release includes certain information and statements
about management's view of future events, expectations, plans and prospects that
constitute forward looking statements. These statements are based upon
assumptions that are subject to significant risks and uncertainties. Because of
these risks and uncertainties and as a result of a variety of factors, the
actual results, expectations, achievements or performance may differ materially
from those anticipated and indicated by these forward looking statements.
Although RedWater believes that the expectations reflected in forward looking
statements are reasonable, it can give no assurances that the expectations of
any forward looking statements will prove to be correct. Except as required by
law, RedWater disclaims any intention and assumes no obligation to update or
revise any forward looking statements to reflect actual results, whether as a
result of new information, future events, changes in assumptions, changes in
factors affecting such forward looking statements or otherwise.