Green Mountain Development and Osprey Oil & Gas Ltd Sign Canadian Oil Field Project Development Agreement

CARLSBAD, Calif. – November 2, 2012 - Green
Mountain Development Corp (Pinksheet: GMND), announced today that it has entered into an Oil Field Project
Development Agreement (the "Agreement") with Osprey Oil & Gas Ltd
of Calgary, Alberta. The Osprey project
opportunity was brought to GMND CEO, Robert Brehm, by long time business
associates who have followed the company’s progress with energy related
projects.

The
Osprey development projects are in Alberta and southern Saskatchewan which lies
along the northern tier of the vast Bakken formation, the biggest energy pool
to be tapped in North America for 50 years. The Bakken is a massive energy play
that contains hundreds of billions of barrels of oil and is transforming the
economy of Middle Canada. When only a
tiny percentage is recovered, it means huge injections of jobs, capital and
consumer spending into parts of the Saskatchewan, Manitoba and Alberta.

Green
Mountain is assisting Osprey with preliminary development work including
project due diligence, financial review and onsite investigation,
identification of capital sources and negotiation of a joint venture (JV) deal
structure between investors and Osprey. Green
Mountain draws upon its prior experience and resources of its affiliate
partners to develop a JV structure to transition Osprey drilling leases from
the acquisition stage to commercial production. As part of its compensation for
bringing all parties together, Green Mountain has a participation in the Joint
Venture.

Robert
Brehm stated, "We are delighted to work closely with Osprey management and
their affiliate vendors on this energy project and future expansions. We believe we can bring capital and
additional energy partners to the JV to improve project returns.”

About Green Mountain Development Corp

Green Mountain
Development Corp provides project development services for capital providers
and technology operators and distributes licensed products related to the
energy, agricultural and environmental sectors.

Investors and
media contact Robert Brehm at 619/488-3744 (bob@greenbizness.com) or visit the
corporate website www.GreenBizness.com
for news and updates.

The information contained in this press release
includes forward-looking statements. Forward-looking statements usually contain
the words "estimate," "anticipate," "believe,"
"expect" or similar expressions that involve risks and uncertainties.
These risks and uncertainties include the company's
status as a development stage company with uncertain profitability, need for
significant capital, uncertainty concerning market acceptance of its products,
competition, limited service and manufacturing facilities, dependence on
technological developments and protection of its intellectual property. The
company's actual results could
differ materially from those discussed herein.