Triangle Petroleum Corporation announces another major development in its Canadian shale gas program with the acquisition of a 516,000 acre parcel in Nova Scotia. This is in addition to the previously announced 68,000 acre farm-in agreement in New Brunswick.

The ability to identify and secure significant land blocks on a cost effective basis is a key component of the Company’s overall strategy. Triangle will be building on and transferring experience gained from its two core shale gas projects, the Fayetteville Shale Project in Arkansas (20,000 gross acres) and the Barnett Shale Project in Texas (13,000 gross acres), to its new shale gas opportunities in Eastern Canada.

This acquisition is consistent with the Company’s comprehensive North American shale gas strategy which includes the following six stages: 1. Geoscience and engineering screening; 2. Land acquisition program; 3. Establishment of appropriate joint-venture partnerships; 4. Acquisition of project focused seismic; 5. Execution of initial drilling and completion program; and 6. Implementation of continuous development operations and production.