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Sunshine Oilsands Ltd. is committed to providing our investors and the public with timely and accurate information regarding our business and operating activies.
March 26, 2013

Sunshine Oilsands Ltd. Announcement of results for the fourth quarter and the year ended December 31, 2012

HONG KONG - Sunshine (HKEX: 2012; TSX: SUO) today announced its financial results for the fourth quarter and year ended December 31, 2012.

The Corporation's consolidated financial statements, notes to the consolidated financial statements, Management's Discussion and Analysis and Annual Information Form have been filed on SEDAR (www.sedar.com), with the SEHK at (www.hkexnews.hk) and are available on the Corporation's website (www.sunshineoilsands.com).

The Annual Information Form includes the Corporation's reserves and resource data at an effective date of December 31, 2012 as evaluated by GLJ Petroleum Consultants Ltd. and DeGolyer and MacNaughton Canada Limited and prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. Sunshine's annual general meeting of shareholders will be held on May 7, 2013 in Hong Kong. All figures are in Canadian dollars unless otherwise stated.

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