CONTACT EXPLORATION INC. ISSUES INCENTIVE OPTIONS

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

CALGARY, May 26, 2011 /CNW/ - Contact Exploration Inc. ("Contact" or the "Company") (TSXV: CEX) announces that it has issued 750,000 stock options to a director of the Company in accordance with the Company's shareholder approved stock option plan.  The stock options are exercisable at a price of $0.23 per share, expire in five years and vest immediately.

Contact Exploration Inc. is a public company with a focus on Canadian East Coast onshore oil and gas production and exploration. Our philosophy is to operate production and exploration in our core area of Atlantic Canada and to participate through overrides and carried interests in certain regional unconventional plays, such as coalbed methane in the Cumberland Basin, shale gas in the Windsor area, and exploration on the west coast of Newfoundland. Contact has onshore interests in Nova Scotia, Newfoundland and New Brunswick which includes the Stoney Creek Field. In addition to the Atlantic Canadian properties, Contact has producing oil assets in south eastern Saskatchewan.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction.  The common shares of Contact will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.

Neither 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 release.


SOURCE Contact Exploration Inc.

For further information:

Steve Harding
President and CEO
Contact Exploration Inc. 
Phone:  (403) 234-8663
Fax:  (403) 695-3915
Email:   sharding@contactexp.com
www.contactexp.com

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Contact Exploration Inc.

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