CALGARY - Touchstone Exploration Inc. ('Touchstone' or the 'Company') (TSX, LSE: TXP) announces that on August 19, 2022, Non-executive Directors and employees exercised share options representing a total of 745,834 common shares of no par value in the Company ('Common Shares').

Non-executive Director Mr. John Wright exercised share options representing a total of 440,834 Common Shares. Mr. Wright's share options were exercised at a weighted average price of C$0.27 per Common Share and were previously granted in 2017, 2018, 2019 and 2020 in accordance with the Company's Share Option Plan.

In addition, Non-executive Director Mr. Peter Nicol exercised share options representing a total of 230,000 Common Shares. Mr. Nicol's share options were exercised at a weighted average price of C$0.24 per Common Share and were previously granted in 2018 and 2019.

Application has been made for the 745,834 new Common Shares, which will rank pari passu with the Company's existing issued share capital, to be admitted to trading on AIM ('Admission'), which is expected on August 25, 2022. Immediately following Admission, the Company's issued share capital will consist of 213,021,161 Common Shares. The Company does not hold any Common Shares in treasury.

Touchstone Exploration Inc.

Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol 'TXP'.

Contact:

Tel: +1 (403) 750-4487

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