PENNINE PETROLEUM ANNOUNCES LETTER OF INTENT FOR SASKATCHEWAN OIL PROJECT

CALGARY, AB (Jan. 5, 2017) – Pennine Petroleum Corporation (TSX VENTURE: PNN or the “Corporation” or “Pennine”) is pleased to announce that it has signed a Letter of Intent (“LOI”) with an independent third party (“Third Party”) to acquire approximately 11 barrels of oil equivalent per day (“boe/d”) production in the Gull Lake region (“Gull Lake Property”) of southwestern Saskatchewan.

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