Mirage Sells Alberta Properties for $761.7 Million

Mirage Energy Ltd. has sold a 30% working interest in an oil property located in the Tangent area of Alberta for $761,734.51. The proceeds from the sale was used to pay off Mirage's bank debt. In addition, Mirage has sold a 17% working interest in a section of Nikanassin rights in the Gold Creek area of Alberta for $101,079.95. The proceeds from the sale will be used to pay down other existing corporate debt. Mirage expects that it will continue to sell non-core area properties in order to focus on its core areas of Lloydminster, Alberta, Hayter, Alberta and in western Saskatchewan.

Mirage is also pleased to announce that it intends to commence drilling activities on its 50% working interest well in the Lloydminster area of Alberta with the proceeds from its recent flow-through financings. This well is expected to spud in the next 2 weeks.