CALGARY, ALBERTA – June 28, 2016 – Chinook Energy Inc. (TSX: CKE) (“Chinook”) is pleased to announce that, further to its news release dated May 25, 2016, it has completed the disposition of certain assets located in the Gold Creek area of Alberta for aggregate consideration of approximately $7.5 million, subject to customary closing adjustments, with an effective date of May 1, 2016.

About Chinook Energy Inc.

Chinook is a Calgary-based public oil and gas exploration and development company that combines multi-zone conventional production and resource plays in western Canada.

For further information please contact:

Walter Vrataric                                                               Jason Dranchuk
President and Chief Executive Officer                           Vice President, Finance and Chief Financial Officer
Chinook Energy Inc.                                                      Chinook Energy Inc.
Telephone: (403) 261-6883                                           Telephone: (403) 261-6883
Website: www.chinookenergyinc.com