NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION 

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) corrects timing
regarding drilling of the Tyne T5-z production well. Drilling operations are
anticipated to commence in July 2012 and not in July 2013, as mistakenly stated
in today's earlier press release.


Forward-looking statements 

Some of the statements in this announcement are forward-looking, including
statements regarding Iona's plans for the development of its properties.
Forward-looking statements include statements regarding the intent, belief and
current expectations of Iona Energy Inc. or its officers with respect to various
matters. When used in this announcement, the words "expects," "believes,"
"anticipate," "plans," "may," "will," "should", "scheduled", "targeted",
"estimated" and similar expressions, and the negatives thereof, whether used in
connection with estimated production levels and future activity or otherwise,
are intended to identify forward-looking statements. Such statements are not
promises or guarantees, and are subject to risks and uncertainties that could
cause actual outcome to differ materially from those suggested by any such
statements. These forward-looking statements speak only as of the date of this
announcement. Iona Energy Inc. expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in its expectations with regard thereto
or any change in events, conditions or circumstances on which any
forward-looking statement is based except as required by applicable securities
laws.