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

Yangarra Resources Ltd. ("Yangarra" or the "Corporation") (TSX VENTURE:YGR)
announces the closing of its recently announced "bought deal" financing,
completed by way of a short form prospectus, for the sale of 22,727,500 common
shares of the Corporation (the "Common Shares") at a price of $1.10 per share,
together with an additional 2,272,750 Common Shares at a price of $1.10 per
share issued pursuant to the full exercise of an over-allotment option granted
to the underwriters, for aggregate gross proceeds of approximately $27.5 million
(the "Offering"). 


The Offering was underwritten by a syndicate of underwriters led jointly by
AltaCorp Capital Inc. and Clarus Securities Inc. and including Dundee Capital
Markets, Acumen Capital Finance Partners Limited, Industrial Alliance Securities
Inc. and Paradigm Capital Inc. 


All Common Shares issued pursuant to the Offering are freely tradable under
applicable securities laws in force in Canada.


Certain information regarding Yangarra set forth in this news release, including
management's assessment of future plans, operations and operational results may
constitute forward-looking statements under applicable securities law and
necessarily involve risks associated with oil and gas exploration, production,
marketing and transportation such as loss of market, volatility of prices,
currency fluctuations, imprecision of reserves estimates, environmental risks,
competition from other producers and ability to access sufficient capital from
internal and external sources. As a consequence, actual results may differ
materially from those anticipated in the forward-looking statements.


All reference to $ (funds) are in Canadian dollars.

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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Yangarra Resources Ltd.
James Evaskevich
President and Chief Executive Officer
(403) 262-9558
Yangarra Resources Ltd (TSXV:YGR)
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