Saturday, September 26, 2026
MiningNewsTerminal
Saturday, September 26, 2026 Admin

ROCK.V ·

Eros Announces Joint Operating Agreement in Saskatchewan

Corporate Updates

NEWS RELEASE

NR: 17-10

October 5, 2017

Eros Announces Joint Operating Agreement

in Saskatchewan

Vancouver, BC ( October 5, 2017) Eros Resources Corp. (TSX.V: ERC) (“ Eros” or the

Company”) is pleased to announce that it has entered into a Joint Operating Agreement (the

“Agreement”) with Westcore Energy Ltd. (“Westcore” or “WTR”) and Saturn Oil + Gas Inc.

(“Saturn” or “SMI”) to develop three sections of land near Flaxcombe, Saskatchewan. Under

the terms of the Agreement, each of Eros, Westcore and Saturn shall have a one -third

(33.33%) working interest in the sections. This provides Eros with a direct interest in the future

exploration results, reserve assessment and possi ble development within the Flaxcombe,

heavy oil field. The three parties are currently preparing a budget and schedule to develop this

ground.

The three sections are contiguous with Westcore’s 100%-owned sections 12, 13 and 5, where

Eros and Westcore a re operating under a well-development agreement . Under this

agreement, Eros funded the completion of three wells for $1.6 million to earn a 90% working

interest until the capital investment is repaid, and a 50% working interest thereafter. In addition,

Eros has the right of first refusal on two additional, three-well projects for the same

consideration. On September 20 th, 2017, Eros announced that well 9 -13 had completed its

initial 30-day production test, showing an average production r ate of 80 barrels of oil per day

(72 barrels to Eros). The two additional wells have been completed and brought on production.

Once they have passed the initial 30-day test period, results will be made available.

About Eros

Eros Resources Corp. is a well-financed Canadian public company focused on the exploration

and development of resource projects in North America. Eros has as its prime business

objective the identification, acquisition and exploration of advanced resource projects with a

North American focus. A secondary focus of the Company is to make strategic investments

with a global focus and a diverse commodity base. The Company’s expertise in the resource

sector supports the selection of these strategic investments.

On behalf of the Board of Directors of

Eros Resources Corp.,

Ron Stewart

President & CEO

Cautionary note regarding forward-looking statements

Certain statements made and information contained herein may constitute “forward looking information” and

“forward looking statements” within the meaning of applicable Canadian and United States securities legislation,

including, among other things, t his press release includes references to mineral resources and future potential

forecast economics of extractin g those resources. There is no certainty that any portion of the resources will be

confirmed with greater certainty. If confirmed, there is no certainty that it will be commercially viable to extract any

portion of the resource. There is no certainty that access to the resource area will be re-established, and if access

to the resource area is blocked for an extended period of time, or permanently, there is no certainty that any

compensation will be received by the Company. Forward-looking information involves known and unknown risks,

uncertainties and other factors that may cause actual results or events to differ materially from those expressed

or implied by such forward-looking information, including the re-establishment of physical access to the property,

the availability of adequate and secure sources of funding to construct the extraction facilities required to extract

the mineral resources, prevailing commodity prices, the receipt of regulatory approvals, environmental risks and

the performance of pers onnel. While the Company considers its assumptions to be reasonable as of the date

hereof, forward-looking statements and information are not guarantees of future performance and readers should

not place undue importance on such statements as actual event s and results may differ materially from those

described herein. The Company does not undertake to update any forward -looking statements or information

except as may be required by applicable securities laws.

Oil and Gas Advisory

Production rates disclosed herein are preliminary and are not determinative of the rates at which the wells will

continue to produce and decline thereafter and may not necessarily be indicative of the long-term performance or

estimated ultimate recovery.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts

responsibility for the adequacy or accuracy of this release.