Joint Actor of 1927297 Alberta Ltd. Acquires Shares of Ironhorse Oil & Gas Inc.

CALGARY, Nov. 19, 2015 /CNW/ - L. Brian Timmerman (the "Offeror") today acquired beneficial ownership and control of 496,500 common shares (the "Acquired Shares") of Ironhorse Oil & Gas Inc. (TSXV:IOG) ("Ironhorse"), representing approximately 1.78% of the issued and outstanding common shares of Ironhorse ("Ironhorse Shares"). Immediately after the acquisition, the Offeror, together with Timmerman Trust and the 1927297 Alberta Ltd. (collectively, the "Joint Offerors"), beneficially own and control 3,273,500 Ironhorse Shares, representing approximately 11.74% of the issued and outstanding Ironhorse Shares.

On November 4, 2015, the Joint Offerors commenced a bid for all of the issued and outstanding Ironhorse Shares (the "Bid"). Since the commencement of the Bid, the Joint Offerors have not acquired Ironhorse Shares in addition to the Acquired Shares.

The Acquired Shares were purchased by the Offeror through the facilities of the TSX Venture Exchange at prices ranging from Cdn$0.165 to Cdn$0.17 per Acquired Share, with an average price per Acquired Share of approximately Cdn$0.1683. The Acquired Shares were purchased by the Offeror in connection with its intentions pursuant to the Bid.

This press release is issued pursuant to Multilaral Instrument 62-104 – Takeover Bids and Special Transactions and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which Ironhorse is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with Ironhorse's documents on the System for Electronic Document Analysis and Retrieval and may be obtained upon request from Bayfield Strategy, Inc.

SOURCE 1927297 Alberta Ltd.

For further information: 1927297 Alberta Ltd., c/o Bennett Jones LLP, 4500, 855 2 St S.W., Calgary, Alberta T2P 4K7; Ironhorse Shareholders Please Contact: Bayfield Strategy, Inc., 1-844-226-3222 (toll free in North America), 416-855-0238 (collect outside North America),

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1927297 Alberta Ltd.

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