Sunshine Oilsands Obtains Listing Approval from the Toronto Stock Exchange

HONG KONG, Nov. 14, 2012 /PRNewswire/ -- Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine", HK: 2012) today is pleased to announce that further to the Company's previous announcements on November 8, 2012, the Toronto Stock Exchange ("TSX") has confirmed Sunshine has satisfied the conditions contained in the TSX's previous conditional listing approval and that the TSX has now approved the listing of Sunshine's Class "A" Common Voting Shares (the "Common Shares") on the TSX. The Common Shares are expected to commence trading on the TSX on Friday, November 16, 2012 (Toronto time), at market open under the symbol "SUO".

Mr. John Zahary, President and Chief Executive Officer of Sunshine stated, "We are pleased that the TSX was able to approve Sunshine for listing in an efficient manner. We believe this listing will help demonstrate the value inherent in our company and its securities as well as provide a convenient market for North American investors to participate in the Sunshine story."

The TSX listing will be a secondary listing and Sunshine will not raise additional funds nor issue any new shares in connection with the listing as it is a listing by introduction. Sunshine will maintain its primary listing on The Stock Exchange of Hong Kong under the stock code "2012".

About Sunshine Oilsands Ltd.

Sunshine Oilsands Ltd. is one of the largest non-partnered holders of oil sands leases by area in the Athabasca oil sands region, which is located in the province of Alberta, Canada. Since the Company's incorporation on 22 February 2007, Sunshine has secured over 464,897 hectares (1,148,785 acres) of oil sands leases (equal to approximately 7% of all granted leases in this area).

The Company's principal operations are the exploration, development and production of its diverse portfolio of oil sands leases. Its principal operating regions in the Athabasca area are at West Ells, Thickwood, Legend Lake, Harper, Muskwa, Goffer, Pelican and Portage. Sunshine's oil sands leases are grouped into three main asset categories: clastics, carbonates and conventional heavy oil.

For further enquiries, please contact:

Sunshine Oilsands Ltd.

Mr. John Zahary Mr. David Sealock

President & CEO Executive VP, Corporate Operations

Tel: (1) 403 984 1446

Email: investorrelations@sunshineoilsands.com

Website: http://www.sunshineoilsands.com

SOURCE　Sunshine Oilsands Ltd.