Patriot Petroleum Corp. Announces Closing of Property Option Purchase and Concurrent Convertible Debenture Financing

PATRIOT PETROLEUM CORP. NEWS RELEASE

918 - 1030 West Georgia Street TSX Venture Exchange Vancouver, BC V6E 2Y3 Trading Symbol: PPC

PATRIOT PETROLEUM CORP. ANNOUNCES CLOSING OF PROPERTY OPTION PURCHASE AND CONCURRENT CONVERTIBLE DEBENTURE FINANCING

November 17, 2016 - Vancouver, BC (TSX-V: PPC) Patriot Petroleum Corp. ("Patriot" or the "Company") today reported that it has closed its previously announced property option acquisition (the "Acquisition") with TY & Sons Explorations (Nevada), Inc. ("TY & Sons") and Nevada Alaska Mining Company Inc. ("Nevada Mining").

The Acquisition was completed pursuant to the terms of an option purchase and assignment agreement (the "Option Purchase Agreement") pursuant to which Patriot has acquired all of TY& Sons' right, title and interest in a property option agreement between TY & Sons and Nevada Mining, as property owner (the "Underlying Option Agreement"), under which TY & Sons has the option (the "Option") to acquire from Nevada Mining a 100% interest in what is known as the Mojave Property, subject to certain royalties in favour of Nevada Mining. The Mojave Property is comprised of 55 unpatented mining claims (the "Mineral Claims") situated in San Bernardino County, California.

As consideration for the Acquisition, the Company has issued a total number of 70,000,000 common shares of Patriot ("Consideration Shares") and paid US$25,000 to TY & Sons, the latter being a partial reimbursement for amounts previously paid by TY & Sons to the Property Owner under the Underlying Option Agreement. An additional reimbursement payment in the amount of US$70,075 is payable by Patriot to TY & Sons on the earlier of April 20, 2017 or the closing date of the next equity financing completed by Patriot. The Consideration Shares are subject to a hold period expiring March 18, 2017.

In order to exercise the Option pursuant to the terms of the Underlying Option Agreement, Patriot will be required to issue an aggregate of 12,500,000 common shares (the "Option Shares") and pay the total sum of US$325,000 to Nevada Mining over the course of four years. A cash payment of US$125,000 is payable following closing of the Option Acquisition and thereafter payments in $50,000 increments on each anniversary of such date until November 1, 2020, and the first Common Share issuance in the amount of 2,500,000 Common Shares is required on or before November 30, 2016 and subsequently thereafter on October 1 each year until October 1, 2020.

Upon exercise of the Option, the Company will hold a 100% in the Mojave Property subject to a two-and-one-half percent (2.5%) net smelter returns royalty on commercial production from the Mineral Claims, in favour of Nevada Mining and a half percent (0.5%) net smelter returns royalty applicable to any after acquired properties in the area of interest stipulated by the Option Purchase Agreement, also in favour of Nevada Mining.

Concurrently with the closing of the Acquisition, Patriot completed a convertible debenture (the "Debenture") financing for gross proceeds of $750,000 with TY & Sons. The Debenture has a term of 24 months, is convertible at a price of $0.05 per common share during the first 12 months and $0.10 in the period until maturity, bears interest at a rate of 5% per annum and is subject to a forced conversion provision which will be triggered if Patriot completes an equity private placement during the period between the issue date and the maturity date of the Debenture at a price per share or unit of at least $0.25, provided that the Company has then completed a 5:1 consolidation. The Debenture, and any common shares issuable upon conversion thereof, are subject to a hold period expiring March 18, 2017.

Trading in the Company's shares has been halted since July 11, 2016, and the Company currently expects trading to resume on or about November 22, 2016.

On behalf of the board of

PATRIOT PETROLEUM CORP.

Per: "Gavin Cooper"

Gavin Cooper President and Director For further information please contact Gavin Cooper at:

Telephone: (604) 639-9051

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE 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 PRESS RELEASE

Disclaimer for Forward-Looking Information:

Certain statements in this news release are forward-looking statements which reflect the expectations of management. Forward- looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. In this release such statements included but are not limited to payment of the second reimbursement payment, the payments and issuance of shares to Nevada Mining, and the expected resumption of trading of the Company's shares, including the timing therefor. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.