Mooncor Corporate Update

TORONTO, ONTARIO--(Marketwired - May 1, 2017) - Mooncor Oil & Gas Corp. (the "Corporation") (TSX VENTURE:MOO) is pleased to announce that it has released its financial results for the year ended December 31, 2016. The financial statements, notes to the financial statements and Management's Discussion and Analysis for the year ended December 31, 2016 are available on SEDAR at www.sedar.com.

"The Corporation is pleased to report that the total production for the Month of April is 1,039 Barrels of Oil. The corporation will continue to work on the Company's two Lloydminster wells as both wells require further work, 04-28 well requires a Flush - by as soon as the weather cooperates and the 03-28 well requires a bottom hole pump changed or upgraded to handle all the Sand," stated Allen Lone, CEO of Mooncor Oil & Gas Corp

About Mooncor Oil & Gas Corp.

Mooncor is a junior oil and gas exploration company. Mooncor holds interests in lands in the Pondera and Teton Counties in Northwestern Montana, the Muskwa / Duvernay liquids rich shale gas area in Hamburg, Alberta, and in southwest Ontario where the focus has been on conventional oil and gas opportunities.

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.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements, including Mooncor conducting extended production tests on two suspended wells by September 31, 2015, or at all. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Mooncor believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Mooncor disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.