TVL Traverse Energy Ltd

Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) is pleased to
announce that it has successfully closed a first tranche of its previously
announced non-brokered private placement (the "Private Placement") of common
shares of the Corporation ("Shares") issued on a "flow through" basis within the
meaning of the Income Tax Act (Canada). The Corporation issued 1,751,000 Shares
for gross proceeds of $1,173,170.


The Shares issued in this tranche are subject to a hold period under applicable
securities laws until November 10, 2012. It is anticipated that the closing of
the remaining Private Placement will occur on or about July 16, 2012.


The Corporation intends to use the proceeds from the Private Placement to fund a
portion of its exploration drilling activities in the province of Alberta. The
Corporation has commenced drilling the first of up to 5 gross (4.5 net) wells on
its Turin property in Southern Alberta.


About the Corporation 

The Corporation is a junior oil and natural gas exploration and production
company with a substantial land base in Alberta. The common shares of the
Corporation currently are listed on the TSX Venture Exchange under the trading
symbol "TVL". There are currently 43,960,911 Shares issued and outstanding.


Forward-Looking Information

This news release contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks, uncertainties and
other factors that could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in this news release
includes statements with respect to the timing of the closing of the remaining
Private Placement and the use of proceeds from the Private Placement. Material
assumptions and factors that could cause actual results to differ materially
from such forward-looking information includes management's ability to raise the
remaining gross proceeds of the Private Placement and the failure to obtain
final approval from the TSX Venture Exchange. Although the Corporation believes
that the material assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance should not be
placed on such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur. The
Corporation disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law.

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