Kelt Announces Results of Shareholders' Meeting

CALGARY, AB -- (Marketwired) -- 04/21/16 -- Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX: KEL) is pleased to announce that all matters presented for approval at the annual and special meeting of shareholders held April 20, 2016 have been fully authorized and approved. A total of 119,955,773 common shares, representing 71.11% of the common shares, were represented in person or by proxy at the meeting.

At the meeting, by vote by way of a show of hands, an ordinary resolution to approve fixing the number of directors to be elected at the meeting at five (5), was approved.

In addition, all of the nominees proposed as directors of the Company were duly elected as directors of the Company with votes cast by the shareholders present in person or represented by proxy at the meeting by way of a ballot, as follows:

                                                                            
                  Outcome of the Vote  Votes For     %      Withheld     %  
                  ------------------- ----------- -------- ----------- -----
Robert J. Dales         Elected       113,206,293  95.67%   5,121,700  4.33%
William C. Guinan       Elected       111,847,894  94.52%   6,480,099  5.48%
Eldon A. McIntyre       Elected       117,094,245  98.96%   1,233,748  1.04%
Neil G. Sinclair        Elected       117,087,960  98.95%   1,240,033  1.05%
David J. Wilson         Elected       118,222,220  99.91%    105,773   0.09%
                                                                            

By vote by way of a show of hands, the ordinary resolution to approve the appointment of PricewaterhouseCoopers LLP, as the auditors of the Corporation, was approved.

The ordinary resolution to approve the unallocated options under the stock option plan of the Corporation and to ratify and approve the grant of certain stock options thereunder was approved, with votes cast by the shareholders present in person or represented by proxy at the meeting by way of a ballot, as follows:

                                                                          
    Votes For              %               Against               %        
-----------------  -----------------  -----------------  -----------------
    92,649,100           78.30%           25,678,893           21.70%     
                                                                          

Lastly, the ordinary resolution to approve the unallocated entitlements under the restricted share unit plan of the Corporation and to ratify and approve the grant of certain restricted share units thereunder was approved, with votes cast by the shareholders present in person or represented by proxy at the meeting by way of a ballot, as follows:

                                                                          
    Votes For              %               Against               %        
-----------------  -----------------  -----------------  -----------------
    83,148,851           70.27%           35,179,142           29.73%     
                                                                          

About Kelt

Kelt is a Calgary, Alberta, Canada-based oil and gas company focused on exploration, development and production of crude oil and natural gas resources, primarily in west central Alberta and northeastern British Columbia.

   
    Additional Information
    
    For further information, please contact:Kelt Exploration Ltd.Suite 300, 311 - 6th
Avenue SWCalgary, Alberta, Canada T2P 3H2David J. WilsonPresident and Chief Executive Officer(403) 201-5340Sadiq H. LalaniVice President and Chief Financial Officer(403) 215-5310Or visit our website at www.keltexploration.com

Source: Kelt Exploration Ltd.

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