REGINA - ROK Resources Inc. ('ROK' or the 'Company') (TSXV:ROK)(OTCQB:ROKRF) is pleased to provide: (i) 2023 operations update highlighted by record December 2023 daily average production of approximately 4,650 boepd, (ii) 2023 year-end reserve and core area drilling inventory growth, and (iii) first-half 2024 guidance focused on disciplined capital allocation.

2023 Operational Highlights

Record Average Production of 4,650 boepd in December: Daily average production in December of 4,650 boepd (60% liquids), which exceeded the Company's 2023 exit production target range of 4,300 - 4,500 boepd and represents a 35% increase in production compared to December 2022 daily average; Organically Increased Production by Over 50% in 6-Months: Following two asset transactions, previously announced on January 24, 2023 and March 23, 2023, the Company grew from 2,950 boepd to 4,650 boepd in 6-months; Core Area Drilling Inventory Growth: Added 10 proved drilling locations in core operating areas in Southeast Saskatchewan after successful Frobisher results across multiple fields; Drilled the 1 Daily Average Oil Well in Saskatchewan in December: The Company's 6-25 Glen Ewen Frobisher well averaged 392 bopd11 in the month of December; Operating Cost Reduction: With a focus on operational efficiencies in Q4 2023, the Company reduced total operating cost per boe by approximately 20% compared to Q3 2023, resulting in operating costs below $30/boe in Q4 2023; Exceeded Q4 2024 Funds from Operations forecast: Estimated10 Funds from Operations of $10 million in Q4 2023, exceeding the Company's forecast by 16% despite weaker commodity pricing; Net Debt: The Company will exit 2023 with an estimated10 Net Debt of $14.5 million (or Adjusted Net Debt of $18.5 million). This represents a 59%, or $20.8 million, reduction in Net Debt year over year and Commitment to ESG: The Company increased its original asset retirement obligation budget and invested approximately $2.3 million to reduce environmental liabilities which represents 10% of its estimated inactive asset retirement obligation.

2023 Corporate Reserves

The Company is pleased to announce the results of its independent reserves evaluation. The evaluation for the Company as at December 31, 2023 was conducted by McDaniel & Associates ('McDaniel') of Calgary and was conducted in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluators Handbook ('COGEH') and National Instrument 51-101 - Standards for Disclosure of Oil and Gas Activities ('NI 51-101').

About ROK

ROK is primarily engaged in exploring for petroleum and natural gas development activities in Alberta and Saskatchewan. It has offices located in both Regina, Saskatchewan, Canada and Calgary, Alberta, Canada. ROK's common shares are traded on the TSX Venture Exchange under the trading symbol 'ROK'.

By way of update, the National Instrument 43-101 Preliminary Economic Assessment, previously outlined in the Company's January 9th, 2024 press release, has been filed on SEDAR+ (www.sedarplus.ca).

Contact:

Lynn Chapman

Chief Financial Officer

Tel: (306) 522-0011

Email: investor@rokresources.ca

Web: www.rokresources.ca

Non-IFRS Measures

The non-IFRS measures referred to above do not have any standardized meaning prescribed by International Financial Reporting Standards ('IFRS') and, therefore, may not be comparable to similar measures used by other companies. Management uses this non-IFRS measurement to provide its shareholders and investors with a measurement of the Company's financial performance and are not intended to represent operating profits nor should they be viewed as an alternative to cash provided by operating activities, net income or other measures of financial performance calculated in accordance with IFRS. The reader is cautioned that these amounts may not be directly comparable to measures for other companies where similar terminology is used. 'Operating Income' is calculated by deducting royalties and operating expense from total sales revenue. Total sales revenue is comprised of oil and gas sales. The Company refers to Operating Income expressed per unit of production as an 'Operating Netback'. 'Operating Income Profit Margin' is calculated by the Company as Operating Income as a percentage of oil and natural gas sales. 'Funds from Operations' is calculated by adding other income and realized gains/losses on commodity contracts ('hedging') to Operating Income. 'Net Debt' includes all indebtedness of the Company, such as the Credit Facility and Lease Obligations (each as defined within the Company's interim condensed financial statements for the nine months ended September 30, 2023), net of Adjusted Working Capital. 'Adjusted Working Capital' is calculated as current assets less current liabilities, excluding current portion of debt and lease liability as defined on the Company's statement of financial position within the Company's interim condensed financial statements for the nine months ended September 30, 2023. 'Adjusted Net Debt' is calculated by removing the 'mark-to-market fair value of the current portion of risk management contracts' and 'lease obligations' (each as defined within the Company's interim condensed financial statements for the nine months ended September 30, 2023) from Net Debt.

'Funds Flow' includes all cash from (used in) operating activities and is calculated before the change in non-cash working capital. 'Funds Flow Basic ($/share)' and 'Funds Flow Diluted ($/share)' are calculated by dividing Funds Flow by the weighted average number of basic shares and weighted average number of diluted shares outstanding, respectively, for the relevant period. These are considered key measures of operating performance and capital management as they demonstrate the Company's ability to generate the cash necessary to repay debt and fund capital investments. Management believes that by excluding the temporary impact of changes in non-cash operating working capital, each of these provide useful measures of ROK's ability to generate cash that are not subject to short-term movements in non-cash operating working capital.

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