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CALGARY, ALBERTA--(Marketwire - Feb. 16, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Wild Stream Exploration Inc. ("Wild Stream") (TSX VENTURE:WSX) is pleased to announce that it has entered into an agreement with a syndicate of underwriters, co-led by Peters & Co. Limited and National Bank Financial Inc., and including Paradigm Capital Inc., FirstEnergy Capital Corp., CIBC World Markets Inc., GMP Securities LP and Desjardins Securities Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase for resale to the public, on a bought deal basis, 7,000,000 common shares of Wild Stream ("Common Shares") at a price of $10.85 per Common Share for gross proceeds of approximately $76 million (the "Financing"). In addition, the Underwriters have been granted an over-allotment option, exercisable in whole or in part at any time until 30 days following closing of the Financing, to purchase a further 700,000 Common Shares, at a price of $10.85 per Common Share for additional gross proceeds of $7.6 million.

The net proceeds of the Financing will be used to initially reduce bank indebtedness under Wild Stream's credit facility, and for general working capital purposes. Subject to completion of the Financing, Wild Stream plans to increase its previously announced 2011 capital budget of $95 million by an additional $25 million, the majority of which will be directed to Wild Stream's Shaunavon property. Closing of the Financing is expected to occur on or about March 9, 2010, subject to customary conditions and regulatory approvals, including the approval of the TSX Venture Exchange (the "TSXV").

WARNING

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities law and may not be offered or sold in the United States absent registration or applicable exemption from those registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. The use of any of the words "current", "scheduled", "will", "prior to", "estimate", "anticipate", "believe", "potential", "should", "forecast", "future", "continue", "may", "expects", "project", and similar expressions are intended to identify forward-looking statements. Specifically, this press release contains forward-looking statements regarding the use of proceeds of the Financing and closing thereof.

Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals or satisfy the conditions to closing the Financing. Certain of these risks and others applicable to Wild Stream are set out in more detail in Wild Stream's Annual Information Form which has been filed on SEDAR and can be accessed at [ www.sedar.com ].

Although Wild Stream believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because Wild Stream can give no assurance that they will prove to be correct.

The forward-looking statements contained in this document are made as of the date hereof and Wild Stream undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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 release.