SMI Saturn Oil And Gas

Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SMI) (FSE: SMK) is pleased to announce that it has commenced completions operations on the previously announced (see news release dated July 16, 2018) Viking and Success horizontal drill program.

Saturn has begun completions on the five well program consisting of three extended reach Viking horizontal wells, one half-mile horizontal Viking and one Success horizontal well. The first extended reach Viking horizontal well at the Company’s 50% working interest Lucky Hills property has been successfully completed, equipped and brought on-line. Additionally, the Companies 100% working interest Kerrobert property has been successfully completed, equipped and brought on-line. Completions is currently underway on the remaining wells and the company looks forward to announcing initial production numbers at the end of August 2018.

Saturn is pleased with the execution of the program and has designed these wells to lead way to a large development program for Q4/2018 and Q1/2019. “The drilling of these wells went smooth and the program had zero accidents or incidents. We are looking forward to a busy fall and continuing to develop our Viking and Success assets,” stated Justin Kaufmann, P.Geo VP of Exploration at Saturn.

The Company would also like to announce that the TSX Venture Exchange (“TSX.V”) has approved a change to the Company's ticker symbol. The Company's common shares will trade on the TSX.V under the ticker symbol "SOIL" effective at the opening of the market on Tuesday, August 7, 2018. The previous ticker symbol was "SMI". There have been no changes to the characteristics of any of the Company's securities and no action is required by current shareholders in connection with this change.

About Saturn Oil & Gas Inc.Saturn Oil & Gas Inc. (TSX.V: SMI) (FSE: SMK) is a public energy Company focused on the acquisition and development of undervalued, low risk assets. Saturn is driven to build a strong portfolio of cash flowing assets with strategic land positions. De-risked assets and calculated execution will allow Saturn to achieve growth in reserves & production through retained earnings. Saturn's portfolio will become its key to growth and provide long-term stability to shareholders.

To learn more, please contact the Company at 1 (306) 955-9946 or visit: www.saturnoil.com

On Behalf of the Board of DirectorsSATURN OIL & GAS INC.

John Jeffrey, MBA – CEO & Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.