Sunshine Oilsands Ltd. Announces Grant of Share Options

HONG KONG and CALGARY, Alberta, May 27, 2015 /CNW/ -- This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors of Sunshine Oilsands Ltd. (the "Corporation") (HKEX: 2012; TSX: SUO) announces that share options to acquire shares in the capital of the Corporation were granted by the Corporation to certain employees under its share option scheme adopted on January 26, 2012 and amended on May 7, 2013, subject to acceptance by these certain parties, with details as follows:

Date of grant	:	May 20, 2015 (Calgary and Hong Kong)
Number of Shares in respect of which the Share Options were granted	:	5,306,962
Exercise price of Share Options granted (Note 1)	:	CDN$ 0.14 (HK$ 0.89 equivalent) per share
Closing price of the Shares on May 20, 2015	:	HK$ 0.88 per share
Validity period of the Share Options	:	Five (5) years
Note 1: Options were priced in Canadian dollars and the Hong Kong dollar price is based on the Bank of Canada noon exchange rate on the date of grant.

Other than listed above, no substantial shareholder, chief executive, director or associate (as defined under the Listing Rules) of any of them were granted Share Options.

Website: www.sunshineoilsands.com

SOURCE Sunshine Oilsands Ltd.

Mr. Tingan Liu, Non-Executive Chairman, [phone]; or Mr. Michael Hibberd, Executive Vice-Chairman, [phone], [email protected], http://www.sunshineoilsands.com