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Press release from Marketwire

Raging River Exploration Inc. Announces the Closing of Acquisitions

Friday, December 28, 2012

Raging River Exploration Inc. Announces the Closing of Acquisitions17:00 EST Friday, December 28, 2012CALGARY, ALBERTA--(Marketwire - Dec. 28, 2012) - Raging River Exploration Inc. (the "Company") (TSX VENTURE:RRX) is pleased to announce it has closed its previously disclosed acquisitions of two private companies, each holding certain oil and gas assets located in the Kerrobert area of Saskatchewan, for an aggregate purchase price of approximately $29.4 million, subject to post-closing adjustments. The vendors pursuant to the acquisitions are arm's length of the Company. The purchase price was comprised of approximately $7.2 million in cash and 8,375,000 common shares of the Company issued at a deemed price of $2.65 per share. Additional corporate information can be found in our December corporate presentation on our website at www.rrexploration.com and at www.sedar.com. FOR FURTHER INFORMATION PLEASE CONTACT: 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. Contact Information: Raging River Exploration Inc.Mr. Neil RoszellPresident and CEO(403) 767-1250(403) 387-2951 (FAX)Raging River Exploration Inc.Mr. Jerry Sapieha, CAVice President, Finance and CFO(403) 767-1265(403) 387-2951 (FAX)www.rrexploration.com