Sunshine Oilsands Ltd. has received a supplemental independent reserves evaluation report (the "Supplemental Report") in respect of those four sections of oil sands lands within its West Ells SAGD project area for which it has obtained initial regulatory approval (the "West Ells Project Area"). The West Ells Project Area is the portion of the larger West Ells development area in which Sunshine anticipates pursuing its core initial development activities.

The Supplemental Report was prepared by GLJ Petroleum Consultants Ltd. (GLJ) in accordance with the requirements of the Canadian Oil and Gas Evaluation Handbook (COGE Handbook) with an effective date of April 30, 2014 and updates and supplements the independent reserves evaluation report prepared by GLJ with an effective date of December 31, 2013 (the "Year End Report") summarized in the Corporation's annual information form for the year ended December 31, 2013 (the "AIF").

Tags: Sunshine Oilsands Ltd.