Granite Oil Corp. (fka GXOCF)

[LGL8054]

DeeThree Exploration Announces Completion of Short Form Prospectus Offering

(OTCQX:DTHRF) is pleased to announce that it has completed its previously
announced short form prospectus offering (the "Offering"), raising gross
proceeds of $17,253,450.


The Offering was led by Dundee Securities Ltd. and included a syndicate of
underwriters consisting of Casimir Capital Ltd., Cormark Securities Inc.,
Macquarie Capital Markets Canada Ltd., Stifel Nicolaus Canada Inc. and NCP
Northland Capital Partners Inc. (collectively, the "Underwriters"). Under the
Offering, a total of 3,834,100 common shares were issued on a "flow-through"
basis (the "Flow-Through Shares") under the Income Tax Act (Canada). This
included 500,100 Flow-Through Shares issued pursuant to the full exercise of the
over-allotment option by the Underwriters. The completion of the Offering is
subject to final approval from the Toronto Stock Exchange.