DIRECTORS PARTICIPATE IN PENNINE PETROLEUM CORPORATION’S NON-BROKERED PRIVATE PLACEMENT

Pennine Petroleum Corporation (TSX Venture: PNN or the "Corporation") announces that, further to a previous news release dated June 13, 2014 concerning the Corporation’s offering of a non-brokered Private Placement, the Directors of the Corporation have sold an aggregate of 3,500,000 common shares, at a price of $0.03 per share, to members of the public through the assistance of the Dundee Goodman Private Wealth division of Dundee Securities Ltd. None of the common shares sold by the Directors are subject to hold periods. Subsequent to the above sale of common shares, the directors will, subject to final acceptance of the Corporation’s submissions to the TSX Venture Exchange, acquire up to 50%, or 5,000,000 units, of the non-brokered Private Placement announced on June 13, 2014.

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