Announcements

Sunshine Oilsands Ltd. ("Sunshine") is pleased to announce that its financial statements and financial results report, including Management's Discussion and Analysis, for the year ended December 31, 2012, Annual Information Form for the Year Ended December 31, 2012 and related documents have been published on the websites of SEDAR (www.sedar.com), the Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and on Sunshine's website (www.sunshineoilsands.com).

By the order of the Board of
Sunshine Oilsands Ltd.
Michael J. Hibberd
Co-Chairman
and
Songning Shen
Co-Chairman

FORWARD-LOOKING INFORMATION AND DISCLAIMER
This News Release may contain forward-looking information that is subject to various risks, uncertainties and other factors. All statements other than statements and information of historical fact are forward-looking statements. The use of any words estimate, forecast, expect, project, plan, target, vision, goal, outlook, may, will, should, believe, intend, anticipate, potential, and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on Sunshines experience, current beliefs, assumptions, information and perception of historical trends available to Sunshine, and are subject to a variety of risks and uncertainties including, but not limited to those associated with resource definition and expected reserves and contingent and prospective resources estimates, unanticipated costs and expenses, regulatory approval, fluctuating oil and gas prices, expected future production, the ability to access sufficient capital to finance future development and credit risks, changes in Albertas regulatory framework, including changes to regulatory approval process and land-use designations, royalty, tax, environmental, greenhouse gas, carbon and other laws or regulations and the impact thereof and the costs associated with compliance. Although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions and factors discussed in this information release are not exhaustive and readers are not to place undue reliance on forward-looking statements as our actual results may differ materially from those expressed or implied. Sunshine disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, subsequent to the date of this News Release, except as required under applicable securities legislation. The forward-looking statements speak only as of the date of this News Release and are expressly qualified by these cautionary statements. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. For a full discussion of our material risk factors, see Risk Factors in our most recent Annual Information Form dated April 30, 2012 (AIF), Risk Management in our current MD&A and risk factors described in other documents we file from time to time with securities regulatory authorities, all of which are available on the Hong Kong Stock Exchange at www.hkexnews.hk, on the SEDAR website at www.sedar.com or our website at www.sunshineoilsands.com.

This document does not constitute and is not an offer to sell or a solicitation of an offer to buy Common Shares of the Company in the United States (including its territories and possessions, any State of the United States and the District of Columbia) or elsewhere.