EastSiberian Plc is Granted Exploration Contractor Status in Nicaragua

ST. HELIER, JERSEY, Oct. 29, 2015 /CNW/ - EastSiberian Plc (TSX NEX: ESB.H) ("EastSiberian" or the "Corporation"), a Jersey company, announces that it has been notified by the Ministry of Energy & Mines ("MEM") of the Government of Nicaragua that the Corporation has been granted Exploration Contractor Status in Nicaragua. By being granted this status, the Corporation is now eligible to apply for hydrocarbon concessions in Nicaragua. The Corporation intends to pursue these opportunities and other opportunities in Latin America that may become available to it.

About EastSiberian

EastSiberian is an international junior oil exploration company incorporated in the Bailiwick of Jersey. For further information, please visit the EastSiberian Plc website at www.eastsiberianplc.com. The common shares of the Corporation are listed currently on the NEX.

The Corporation announced previously that the common shares of EastSiberian are halted currently from trading on the NEX at the request of the Corporation. The common shares will remain halted until trading is permitted to resume, all in accordance with the policies of the TSX Venture Exchange and the NEX.

Neither the 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.

Advisory Regarding Forward-Looking Statements

This press release contains certain forward-looking statements and forward-looking information (collectively referred to as "forward looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking information typically contains statements with words such as "anticipate", "believe", "plan", "continuous", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes and includes references to the Corporations plans to obtain a hydrocarbon concession in Nicaragua.

Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. There can be no assurance that the plans, intentions or expectations upon which forward-looking statements are based will in fact be realized. Actual results will differ, and the difference may be material and adverse to EastSiberian and its shareholders.  In particular, the Corporation may not be able to obtain a hydrocarbon concession in Nicaragua.

The forward-looking statements contained in this press release are made as of the date hereof and EastSiberian does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

SOURCE EastSiberian Plc

EastSiberian Plc, Graeme Phipps, President, 9 Esplanade, St. Helier, Jersey, Tel: [phone] or [phone], Email: [email protected]