Pine Cliff Energy Ltd. Announces Appointment of New Director

Calgary, Alberta--(Newsfile Corp. – August 10, 2023) – Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX: PNE; OTCQX: PIFYF) is pleased to announce the appointment of Hilary Foulkes to its Board of Directors (the “Board”).

Ms. Foulkes has over 35 years’ experience in oil and gas operations and as an investment banking executive. Ms. Foulkes was previously Executive Vice-President and Chief Operating Officer for a public oil and gas company, responsible for portfolio management, operational strategy, and performance. In addition, Ms. Foulkes has considerable capital markets experience having worked as a Managing Director of a full-service investment bank.

Ms. Foulkes has served as an independent director on both private and public oil and gas company boards and is currently Board Chair of Enerplus Corporation (TSX; NYSE). Ms. Foulkes is a member of both the Institute of Corporate Directors (“ICD”) and the National Association of Corporate Directors (“NACD”) and is a lifetime member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”) and the Canadian Energy Geoscience Association (“CEGA”). Ms. Foulkes has a Bachelor of Science, Earth Science Major Degree, from the University of Waterloo.

With extensive experience and expertise in operations, corporate governance and business performance management, Pine Cliff believes Ms. Foulkes will bring valuable insights and meaningful and professional contributions to the Board.

About Pine Cliff

Pine Cliff is a natural gas and crude oil company with a long-term view of creating shareholder value. Further information relating to Pine Cliff may be found on www.sedar.com as well as on Pine Cliff's website at www.pinecliffenergy.com

For further information, please contact:

Philip B. Hodge – President and CEO

Alan MacDonald –CFO and Corporate Secretary

Telephone: (403) 269-2289

Fax: (403) 265-7488

Email: info@pinecliffenergy.com

The TSX does not accept responsibility for the accuracy of this release.

‍