Sunshine Oilsands Ltd. Announces Commencement of a Review of Strategic Development Alternatives to Preserve and Maximize

Sunshine Oilsands Ltd. Announces Commencement of a Review of Strategic 
Development Alternatives to Preserve and Maximize Shareholder Value 
CALGARY, Alberta, Aug. 6, 2013 /CNW/ - Sunshine Oilsands Ltd. ("Sunshine" or 
the "Corporation") (HKEX: 2012, TSX: SUO) announces that in light of 
Sunshine's planned expenditures and ongoing capital requirements for its West 
Ells and other projects and its existing capital levels, the Board of 
Directors has directed management of the Corporation to commence a strategic 
review process to identify, examine and consider a range of strategic 
alternatives available to Sunshine, with a view to progressing its oilsands 
development strategy and to preserving and maximizing shareholder value.  This 
process could result in one or more strategic transactions being completed by 
the Corporation including, debt or equity financing of the Corporation, a 
joint venture or other strategic transaction involving Sunshine, or its 
assets, and a third party.  Management and the Board of Directors are 
committed to acting in the best interests of the Corporation and its 
shareholders and believe that the long term strategy of the Corporation will 
continue to provide value to shareholders.  The Board of Directors expects to 
engage financial advisors to assist in the strategic development alternatives 
review process. 
Sunshine does not intend to disclose developments with respect to the 
strategic review process unless and until the Board of Directors has approved 
a definitive transaction or strategic option, or unless otherwise required by 
law or regulation or disclosure of which is deemed appropriate.  The 
Corporation cautions that there are no guarantees that the strategic review 
process will result in a transaction or, that if a transaction is undertaken, 
as to its terms or timing. The Corporation has not set a definitive schedule 
to complete its evaluation. 
Further details regarding the latest financial position and operational 
performance of the Corporation will be set out in the preliminary announcement 
of the results of the Corporation for the 6 months ended 30 June, 2013 to be 
published by the Corporation on or about August 13, 2013. 
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 one million 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. 
This announcement may contain forward-looking information that is subject to 
various risks, uncertainties and other factors. All statements other than 
statements and information of historical fact are forward-looking statements. 
The use of any words "estimate", "forecast", "expect", "project", "plan", 
"target", "vision", "goal", "outlook", "may", "will", "should", "believe", 
"intend", "anticipate", "potential", and similar expressions are intended to 
identify forward-looking statements. Forward-looking statements are based on 
Sunshine's experience, current beliefs, assumptions, information and 
perception of historical trends available to Sunshine, and are subject to a 
variety of risks and uncertainties including, but not limited to those 
associated with resource definition and expected reserves and contingent and 
prospective resources estimates, unanticipated costs and expenses, regulatory 
approval, fluctuating oil and gas prices, expected future production, the 
ability to access sufficient capital to finance future development and credit 
risks, changes in Alberta's regulatory framework, including changes to 
regulatory approval process and land-use designations, royalty, tax, 
environmental, greenhouse gas, carbon and other laws or regulations and the 
impact thereof and the costs associated with compliance. Although Sunshine 
believes that the expectations represented by such forward-looking statements 
are reasonable, there can be no assurance that such expectations will prove to 
be correct. Readers are cautioned that the assumptions and factors discussed 
in this information release are not exhaustive and readers are not to place 
undue reliance on forward-looking statements as our actual results may differ 
materially from those expressed or implied. Sunshine disclaims any intention 
or obligation to update or revise any forward-looking statements as a result 
of new information, future events or otherwise, subsequent to the date of this 
announcement, except as required under applicable securities legislation. The 
forward-looking statements speak only as of the date of this announcement and 
are expressly qualified by these cautionary statements. Readers are cautioned 
that the foregoing lists are not exhaustive and are made as at the date 
hereof. For a full discussion of our material risk factors, see "Risk Factors" 
in our most recent Annual Information Form, "Risk Management" in our current 
MD&A and risk factors described in other documents we file from time to time 
with securities regulatory authorities, all of which are available on the Hong 
Kong Stock Exchange at, on the SEDAR website at 
or our website at 
This announcement does not constitute and is not an offer to sell or a 
solicitation of an offer to buy common shares of the Company in the United 
States (including its territories and possessions, any State of the United 
States and the District of Columbia) or elsewhere. 
For further enquiries, please contact: 
Sunshine Oilsands Ltd. 
Mr. John  Mr. David Sealock
President Executive VP, Corporate Operations
& CEO 
Tel: (1)
403 930   Tel: (1) 403 984 1446
SOURCE: Sunshine Oilsands Limited 
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CO: Sunshine Oilsands Limited
-0- Aug/06/2013 11:26 GMT
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