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Press release from Marketwire

DeeThree Exploration Announces Exercise and Closing of Over-Allotment Option

Tuesday, March 12, 2013

DeeThree Exploration Announces Exercise and Closing of Over-Allotment Option09:34 EDT Tuesday, March 12, 2013CALGARY, ALBERTA--(Marketwire - March 12, 2013) -NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES DeeThree Exploration Ltd. ("DeeThree" or the "Corporation") (TSX:DTX)(OTCQX:DTHRF) is pleased to announce it has issued an additional 663,000 common shares at $6.80 per common share for gross proceeds of $4,508,400 pursuant to the exercise in full of the over-allotment option in connection with the previously-announced short-form prospectus offering. The syndicate of underwriters was co-led by Macquarie Capital Markets Canada Ltd. (sole book runner), Raymond James Ltd. and Cormark Securities Inc. and included Dundee Securities Ltd., Stifel Nicolaus Canada Inc., and Casimir Capital Ltd. The proceeds from the exercise of the over-allotment will be used to further the Corporation's 2013 capital program. Cautionary Note Regarding Forward-Looking Statements Certain statements contained herein constitute forward-looking statements, including statements concerning use of proceeds from the exercise of the over-allotment option. DeeThree believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. The forward-looking statements included in this press release are made as of the date of this press release and DeeThree disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: DeeThree Exploration Ltd.Martin CheynePresident and Chief Executive Officer(403) 263-9130