Bayshore Petroleum Corp. Announces Extension of Private Placement

PRESS RELEASE

BAYSHORE PETROLEUM CORP. ANNOUNCES EXTENSION OF PRIVATE PLACEMENT

Symbol: BSH: TSX Venture August 16, 2011

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE U.S.

CALGARY, ALBERTA, August 16, 2011 - Bayshore Petroleum Corp. (“Bayshore”) announced today that Bayshore and Excel Team Holdings Ltd. have extended the outside date for completion of Bayshore’s previously announced private placement (the “Private Placement”) of up to $1,500,000 of units until September 9, 2011.

The completion of the Private Placement remains subject to a number of conditions and approvals including, but not limited to, the completion of the TSX Venture Exchange review of Excel.

For further information, please contact Alan M. Tang, President and Chief Executive Officer of Bayshore Petroleum Corp. at Phone: (403) 269-2823.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.