3MV Energy Announces Intention to Exercise Right to Issue Securities to Acquire 1696704 Alberta Ltd.

/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES/

CALGARY, Oct. 18, 2012 /CNW/ - 3MV Energy Corp. ("3MV" or the "Company") (TSXV: TMV) announces that pursuant to its previously announced (September 23, 2012) farm out agreement with 1696704 Alberta Ltd. ("FarmCo") pursuant to which FarmCo drilled two wells on 3MV's Fiske property, with FarmCo funding 100% of costs to completion to earn 75% interest subject to existing royalties, upon 3MV completing further $3,750,000 financing 3MV intends to exercise, subject to board of directors and regulatory approval, the right to exchange 3MV shares and warrants for FarmCo shares and warrants thereby re-acquiring the 75% interest in the two wells, by issuing units at $0.25 per unit, each unit comprised of a share and a warrant exercisable at $0.50 for 18 months.

The common shares and warrants to be issued will be subject to a four-month hold period from the date of issuance. The issuance of the common shares will not result in a change of control.

These transactions are consistent with 3MV's present goal to preserve its cash and are subject to the approval of the TSX Venture Exchange.

About 3MV 

3MV is an oil and gas exploration and development company with assets throughout west central Saskatchewan's Viking oil play.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

Forward-Looking Statements

Certain statements in this news release constitute forward-looking statements. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by 3MV. Although 3MV believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because 3MV can give no assurance that they will prove to be correct.

Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general, commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect 3MV's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

The forward-looking statements contained in this document are made as of the date hereof and 3MV undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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.

SOURCE: 3MV Energy Inc.

Curtis Schoenfeld
President & CEO
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Billy Abbey
CFO, VP Finance
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