Petrostar Auditor Resigns, New Auditor Appointed

NEWS RELEASE   |   Tuesday, July 7th, 2015

Petrostar Auditor Resigns, New Auditor Appointed

July 7, 2015 – Nanton, AB. - Petrostar Petroleum Corporation (TSX - Venture: PEP; “Petrostar” or “the Company”) wishes to announce that the Company has received notice of the resig nation of A. Chan and Company LLP as the Company’s auditors effective immediately.

The board of directors of the Company have determined to appoint Sam S. Mah Inc., Chartered Accountant as the Company’s auditors in place of A. Chan and Company LLP (the former auditors) and to propose Sam S. Mah Inc. Chartered Accountant for appointment as the auditors of the Company at its next annual general meeting.

The former auditors’ resignation was mutually agreed upon by the Company and the former auditors. The resignation of the former auditors and the appointment of the successor auditors have been approved by the Company’s Board of Directors.

About Cerus Energy Group

Cerus Energy Group is a Tier 2 Canadian-based oil and gas exploration company trading on the TSX Venture Exchange with property assets in both Alberta and Saskatchewan.

About Cerus Energy Group's Subsidiary Companies

Texalta Industries Ltd. and Lomac Canada Ltd. are wholly owned subsidiary company's serving various sectors of the oil and gas industry in the Province of Alberta. Maverick Northstar is a private joint venture company between Petrostar Petroleum Corp. of Alberta, Canada and Maverick Synfuels Inc of North Carolina, USA. Maverick Northstar is a chemical processing company focused on improving the value of methane through the production and utilization of methanol in Western Canada located in the province of Alberta. Petrostar holds 60% ownership of Maverick Northstar shares. For further information, please contact:

Primary Contact:
Bruce Scafe
1-877-737-8864
bscafe@cerusenergy.com

Alternate Contact:
Mackenzie Loree, CEO
1-403-861-6779
mloree@cerusenergy.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING INFORMATION

Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company’s beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company’s expectations as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from a conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.

When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION ON AT ANY PARTICULAR TIME.