Huntington Announces Closing of Private Placement of Units

CALGARY, ALBERTA--(Marketwired - July 26, 2016) - Huntington Exploration Inc. ("HEI" or the "Company") (TSX VENTURE: HEI) announced today that it has completed the closing of the previously announced non-brokered private placement of units ("Units"), subject to final approval of the TSX Venture Exchange. HEI issued 16,666,667 Units at a price of $0.03 per Unit for gross proceeds of $500,000 (the "Private Placement"). Each Unit consists of one common share and one transferable common share purchase warrant, which each warrant entitling the holder thereof to purchase one additional common share at a price of $0.05 per share for a period of thirty six months from closing.

The Company intends to use the proceeds from the Private Placement to acquire new projects in the resource mining sector that will strategically complement the Company's existing portfolio of oil and gas assets and for general working capital purposes, and HEI confirms that the proceeds will not be used to retire any current debt or to pay any management fees. All securities issued in connection with the Private Placement are subject to a hold period that expires on November 27, 2016.

Bob Verhelst, an officer and a director of HEI, J. Timothy Bowes an officer and director of HEI and Michael Binnion, a director of HEI, subscribed for 1,700,000 Units, 1,666,667 Units and 833,333 Units, respectively, under the Private Placement. HEI has determined that exemptions from the various requirements of Multilateral Instrument 61-101 are available for the issuance of the Units (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000).

HEI is an exploration-focused corporation actively pursuing opportunities in the oil and natural gas business in the Western Canada sedimentary basin and yet to be determined resource mining projects.

On behalf of the Board of Directors:

Bob Verhelst, President and CEO

Neither the 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.

Forward-Looking Statements

This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding HEI's business and the Private Placement. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond HEI's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although HEI believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, HEI does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.