RedWater Announces New Board Member

RedWater Announces New Board Member 
OKOTOKS, ALBERTA -- (Marketwired) -- 08/27/13 -- RedWater Energy
Corp. ("RedWater") (TSX VENTURE:RED) is pleased to announce that at
its annual and special meeting of shareholders held on August 26,
2013, shareholders re-elected the existing board of directors (Gary
Waters, Kyle Francis, Kevin Dickson and Ron Wanner) and elected for
his first term Mr. George Chan of Alberta, Canada. Mr. Chan has also
agreed to join the Audit Committee of RedWater which now consists of
Messrs Waters, Wanner, Dickson and Chan. 
George Chan is a Certified General Accountant and holds a Bachelor of
Management degree from the University of Lethbridge. He has extensive
financial experience within the petroleum, power and pipeline
industry and has served in management roles for Dekalb Energy Canada
Ltd. and TransCanada Corporation. During the past 25 years, he has
had roles in tax, accounting, finance and management duties involving
acquisitions, divestitures, development projects, corporate
reorganizations and governance. 
All members of the Board of Directors welcome George Chan and look
forward to working together.  
Business of RedWater Energy Corp. 
RedWater Energy Corp. is an emerging oil and gas exploration and
development company. RedWater is engaged in the acquisition,
enhancement and exploration of conventional oil and gas projects in
Western Canada with a focus on developing high working interest light
oil opportunities. RedWater's core properties are located in
Redwater, Norris, Westlock, Fairydell-Bon Accord and Panny areas of
Alberta. www.redwaterenergy.com. 
Cautionary Statements 
Forward-looking information and statements 
This news release contains certain forward-looking information and
statements within the meaning of applicable securities laws. The use
of any of the words "expect", "anticipate", "continue", "estimate",
"may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking
information or statements. In particular, but without limiting the
forgoing, this news release contains forward-looking information and
statements pertaining to the following; the timing for completion and
equipping of wells; the volume and product mix of RedWater's oil and
gas production and its ability to develop RedWater's oil resource
properties, the use of the RedWater's cash flow from operations and
expanded credit facilities; the number of wells to be drilled and
potential development drilling and number of potential oil
development locations.  
In addition, forward-looking statements or information are based on a
number of material factors, expectations or assumptions of RedWater
which have been used to develop such statements and information but
which may prove to be incorrect. Although RedWater believes that the
expectations reflected in such forward-looking statements or
information are reasonable, undue reliance should not be placed on
forward-looking statements because RedWater can give no assurance
that such expectations will prove to be correct. In addition to other
factors and assumptions which may be identified herein, assumptions
have been made regarding, among other things: results from drilling
and development activities consistent with past operations; the
continued and timely development of infrastructure in areas of new
production; continued availability of debt and equity financing and
cash flow to fund RedWater's current and future plans and
expenditures; the impact of increasing competition; the general
stability of the economic and political environment in which RedWater
operates; the timely receipt of any required regulatory approvals;
the ability of RedWater to obtain qualified staff, equipment and
services in a timely and cost efficient manner; drilling results; the
ability of the operator of the projects in which RedWater has an
interest in to operate the field in a safe, efficient and effective
manner; the ability of RedWater to obtain financing on acceptable
terms; field production rates and decline rates; the ability to
replace and expand oil and natural gas reserves through acquisition,
development and exploration; the timing and cost of pipeline, storage
and facility construction and expansion and the ability of RedWater
to secure adequate product transportation; future commodity prices;
currency, exchange and interest rates; regulatory framework regarding
royalties, taxes and environmental matters in the jurisdictions in
which RedWater operates; the ability of RedWater to successfully
market its oil and natural gas products that all necessary regulatory
approvals will be obtained as and when required, that there will be
no material adverse change in RedWater's affairs or laws, rules or
regulations relating to RedWater, its securities or business, there
will be no regulatory proceedings involving RedWater or any of its
directors or officers, or any cease trade or other order prohibiting
or restricting trading in RedWater's securities, no major national or
international event will have occurred that has or would reasonably
be expected to have a material adverse effect on financial markets or
the business, operations or affairs of RedWater.  
The forward-looking information and statements included in this news
release are not guarantees of future performance and should not be
unduly relied upon. Such information and statement, including the
assumptions made in respect thereof, involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to defer materially from those anticipated in such
forward-looking information or statements including, without
limitation: changes in commodity prices; changes in the demand for or
supply of RedWater's products; unanticipated operating results or
production declines; changes in tax or environmental laws, royalty
rates or other regulatory matters; changes in development plans of
RedWater or by third party operators of RedWater's properties,
increased debt levels or debt service requirements; inaccurate
estimation of RedWater's oil and gas reserve and resource volumes;
limited, unfavorable or a lack of access to capital markets;
increased costs; a lack of adequate insurance coverage; the impact of
competitors; and certain other risks detailed from time-to-time in
RedWater's public disclosure documents, (including, without
limitation, those risks identified in this news release and
RedWater's public company documents filed on SEDAR). 
The forward-looking information and statements contained in this news
release speak only as of the date of this news release, and RedWater
does not assume any obligation to publicly update or revise any of
the included forward-looking statements or information, whether as a
result of new information, future events or otherwise, except as may
be expressly required by applicable securities laws.  
Funds flow from operations are not measures that have any
standardized meaning prescribed by IFRS or Canadian GAAP and
accordingly are referred to as non - GAAP measures. Therefore, these
measures may not be comparable to similar measures presented by other
issuers. These measures have been described and presented here and in
our MD&A in order to provide shareholders and potential investors
with additional information regarding Redwater's liquidity and its
ability to generate funds to finance its operations. Management
utilizes "Funds flow from operations" as a key measure to assess the
ability of RedWater to finance operating activities and capital
activities. All references to funds flow from operations throughout
this report are calculated based on cash flows from operating
activities before changes in non-cash working capital. Cash flows
from operating activities are the closest comparable figure which is
calculated in accordance with IFRS and Canadian GAAP. 
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.
Contacts:
RedWater Energy Corp.
Gary Waters
President & CEO
(403) 995-0465
gwaters@redwaterenergy.com
www.redwaterenergy.com