Alberta Energy Regulator Approval of Thickwood Project

CALGARY, Alberta, Sept. 15, 2013 /CNW/ - Sunshine Oilsands Ltd. ("Sunshine" or 
the "Corporation") (HKEX: 2012, TSX: SUO) is pleased to announce that 
subsequent to the September 6, 2013 Alberta Government Order in Council 
approval, it has received final Alberta Energy Regulator approval and received 
Commercial Scheme Number 12010 for the Thickwood Project. The Thickwood 
Project is Sunshine's second Steam Assisted Gravity Drainage (SAGD) 10,000 
barrel per day commercial development regulatory approval. The Thickwood 
Project increases Sunshine's approved SAGD commercial production capacity to 
20,000 barrels per day and according to the reserves and resource evaluation 
completed by independent evaluators, effective December 31, 2012, the 
Thickwood Project area holds approximately 163 million barrels of Proved plus 
Probable reserves, and about 341 million barrels of Best Estimate Contingent 
resource. The Company believes that the Thickwood Project could potentially 
support production of approximately 70,000 barrels per day. The Company will 
continue to inform the market of the expected timetable regarding the 
development schedule of the Thickwood Project. 
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 evaluation, 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 Ltd. 
To view this news release in HTML formatting, please use the following URL: 
CO: Sunshine Oilsands Ltd.
-0- Sep/16/2013 00:50 GMT
Press spacebar to pause and continue. Press esc to stop.