Northern Blizzard Announces Closing of $19 Million Over-Allotment Option

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

CALGARY, Aug. 29, 2014 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard") (TSX:NBZ) announces today that, in connection with the initial public offering and secondary offering of common shares of Northern Blizzard (the "Offering") at an offering price of $19.00 per share (the "Offering Price"), the over-allotment option granted to the underwriters by existing shareholders (the "Selling Shareholders") has been partially exercised for additional gross proceeds to the Selling Shareholders of $19.0 million. Northern Blizzard will not receive any proceeds from the exercise of the over-allotment option. Total size of the Offering, after the exercise of the over-allotment option, is $519 million

The Offering was made through a syndicate of underwriters co-led and joint bookrun by CIBC, RBC Capital Markets, Scotiabank and TD Securities Inc.

The common shares of Northern Blizzard have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, these common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of Northern Blizzard's common shares in the United States.

Northern Blizzard

Northern Blizzard is a Calgary, Alberta based Canadian crude oil production and development company focused on maximizing oil recovery from its large-scale low viscosity heavy oil resource base. The corporation's operations, infrastructure and concentrated land position are focused in the Kerrobert and Lloydminster areas of Saskatchewan. Northern Blizzard's common shares trade on the Toronto Stock Exchange under the symbol NBZ.

SOURCE Northern Blizzard Resources Inc.

For further information: Northern Blizzard Resources Inc., Telephone: 403-930-3000, John Rooney, Chairman & Chief Executive Officer, Michael Makinson, Vice President, Finance & Chief Financial Officer