PrairieSky Royalty Announces Appointments to the Board of Directors

CALGARY, ALBERTA--(Marketwired - Dec. 10, 2014) - James Estey, Chair of the Board of PrairieSky Royalty Ltd. ("PrairieSky") (TSX:PSK) is pleased to announce that Ms. Margaret McKenzie and Mr. Grant Zawalsky have agreed to join PrairieSky's Board of Directors following closing of the acquisition of Range Royalty Limited Partnership ("Range").

"We are pleased to add such strong and talented new members to our Board and look forward to their contributions to PrairieSky" said James Estey, Chairman of the Board. "Margaret and Grant each have extensive business experience and knowledge of the oil and gas sector, and specifically in resource royalties, which will complement and strengthen our Board".

Ms. McKenzie is currently the Vice President, Finance and Chief Financial Officer of Range and prior thereto was Vice President, Finance and Chief Financial Officer of Profico Energy Management Ltd. (a private oil and gas company). Ms. McKenzie holds a Bachelor of Commerce degree (with distinction) from the University of Saskatchewan and has been a member of the Institute of Chartered Accountants of Alberta since 1985. She obtained her ICD.D designation from the Institute of Corporate Directors in 2013. Ms. McKenzie is an experienced director and currently sits as a director of two private energy companies and Bonavista Energy Corporation.

Mr. Zawalsky is currently a director of Range and is Managing Partner of Burnet, Duckworth & Palmer LLP (Barristers and Solicitors) where he has been a partner since 1994. Mr. Zawalsky holds a B.Comm and LL.B. from the University of Alberta and is a member of the Law Society of Alberta. Mr. Zawalsky is an experienced director and currently sits on the board of directors of a number of private and public companies, including Whitecap Resources Inc., NuVista Energy Ltd., and Zargon Oil & Gas Ltd.

About PrairieSky Royalty Ltd.

PrairieSky is a royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating stable free cash flow and that represent one of the largest and most concentrated independently-owned fee simple mineral title positions in Canada. PrairieSky common shares trade on the Toronto Stock Exchange under the symbol PSK.