SHARON ANNOUNCES GRANTING OF SHARE OPTIONS

CALGARY, Sept. 1 /CNW/ - Sharon Energy Ltd. announced today that its Board of Directors has approved the issuance of stock options, effective August 31, 2010, to purchase 2,810,000 common shares of the Corporation at a price of $0.135 per share, exercisable until August 31, 2015.

The options are being issued to Directors and Officers of the Corporation in accordance with Sharon's Share Option Plan dated July 22, 2003.

The total number of options outstanding after the issuance is 3,710,000, or 5% of the issued and outstanding common shares of the Corporation.

Sharon is an oil and gas exploration and production company based in Calgary, Alberta.

ADVISORY: This press release contains forward looking statements. Although Sharon believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Sharon 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. The forward looking statements contained in this press release are made as of the date hereof and Sharon undertakes no obligations 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 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.

For further information: Robert W. Lamond, President and Chairman, Calgary, Alberta, SHARON ENERGY LTD., Telephone: [phone], Fax: [phone]