Paramount Resources Ltd. — Declaration of Voting Results & Voting Rights Announcements 2020

May 7, 2020

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PARAMOUNT RESOURCES LTD.

Calgary, Alberta

May 7, 2020

NEWS RELEASE: PARAMOUNT RESOURCES LTD. ANNOUNCES ANNUAL GENERAL MEETING RESULTS

CALGARY, Alberta – Paramount Resources Ltd. ("Paramount") (TSX - "POU") announces that the following eight director nominees were elected at today’s annual general meeting of shareholders:

	VOTES	FOR	VOTES	WITHHELD
	Number	Percent (%)	Number	Percent (%)
James Riddell	101,524,772	99.79	209,482	0.21
James Bell	101,192,157	99.47	542,097	0.53
Wilfred Gobert	101,321,865	99.59	412,389	0.41
John Gorman	100,960,197	99.24	774,057	0.76
Dirk Jungé	101,172,088	99.45	562,166	0.55
Robert MacDonald	101,337,630	99.61	396,624	0.39
Keith MacLeod	101,345,347	99.62	388,907	0.38
Susan Riddell Rose	100,860,709	99.14	873,545	0.86

The re-appointment of Ernst & Young LLP, Chartered Professional Accountants, as auditors of Paramount was also approved at the meeting.

ABOUT PARAMOUNT

Paramount is an independent, publicly traded, liquids-focused Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas reserves and resources, including longer-term strategic exploration and pre-development plays, and holds a portfolio of investments in other entities. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s Class A common shares are listed on the Toronto Stock Exchange under the symbol "POU".

For further information, please contact:

Paramount Resources Ltd. J.H.T. (Jim) Riddell, President and Chief Executive Officer and Chairman Rodrigo (Rod) Sousa, Executive Vice President, Corporate Development and Planning www.paramountres.com Phone: (403) 290-3600