Contact Exploration Inc. Issues Incentive Options

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, April 26, 2012 /CNW/ - Contact Exploration Inc. ("Contact" or the "Company") (TSXV: CEX) announces that it has issued a total of 3,350,000 stock options to executive officers, consultants and a director of the Company in accordance with the Company's shareholder approved stock option plan.  The stock options are exercisable at a price of $0.10 per share, expire in five years and vest immediately.

Contact Exploration Inc. is a public company which has been focused on Canadian East Coast onshore oil and gas exploration and development. Our philosophy is to operate the exploration and development projects in our core areas of Stoney Creek, Hillsborough and Edgett's Landing, New Brunswick and to participate through overrides and carried interests in certain regional unconventional plays in Nova Scotia and Newfoundland. In addition to the Atlantic Canadian properties, Contact is pursuing a new core area in Alberta's "Deep Basin" targeting the Montney Formation.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction.  The common shares of Contact will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.

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.

Steve Harding
President and CEO
Contact Exploration Inc. 
Phone:  [phone]
Fax:  [phone]
Email: [email protected]
www.contactexp.com