Sunshine Oilsands Ltd. — AGM Information 2012

Apr 24, 2012

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Sunshine Oilsands Ltd. 陽光油砂有限公司[*]

(a corporation incorporated under the Business Corporations Act of the Province of Alberta, Canada with limited liability)

(Stock Code: 2012)

RECORD DATE OF THE ANNUAL GENERAL MEETING TO BE HELD IN HONG KONG ON MAY 29, 2012 (HONG KONG TIME)

Sunshine Oilsands Ltd. (the “ Company ”) hereby announces that its board of directors (the “ Board ”) has approved the convening of an annual general meeting of the shareholders in Hong Kong on Tuesday, May 29, 2012 (Hong Kong time) (the “ AGM ”). The Board has also decided to fix the record date for the determination of the shareholders who are entitled to receive the notice of, and to attend and vote at, the AGM or adjournment thereof, on Tuesday, May 8, 2012 (Hong Kong time) (the “ Record Date ”). Shareholders whose names appear on the register of members of the Company at the close of business on the Record Date will be entitled to attend the AGM and cast his or her vote if his or her shares carry voting rights.

In order to be eligible for attending and voting at the AGM, any transfers, accompanied by the relevant share certificates, must be lodged (1) for holders of the Company’s shares that are on the Company’s principal register in Canada, with the Company’s principal registrar in Canada, Alliance Trust Company at Suite 450, 407 - 2nd Street SW, Calgary, Alberta, Canada T2P 2Y3; and (2) for holders of the Company’s shares that are on the Company’s branch register in Hong Kong, with the Company’s branch share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited at Shops 1712 - 1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong, not later than 4:30p.m. (Hong Kong time) on the Record Date.

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The Company’s annual report containing, amongst other things, its financial statements for the year ended December 31, 2011 and the management’s discussions of its results and performance for the same period, will be dispatched to shareholders and be available on the Company’s website at http://www.sunshineoilsands.com, and the website of the Stock Exchange at http://www.hkexnews.hk/, on Friday, April 27, 2012 (Hong Kong time). A notice of the AGM which contains, amongst other things, the time, venue and the detailed agenda of the AGM, along with a circular concerning certain matters to be considered at the AGM, will be dispatched to shareholders on Friday, April 27, 2012 (Hong Kong time).

By the order of the Board of Sunshine Oilsands Ltd. Michael John Hibberd Co-Chairman

Hong Kong, April 24, 2012

As of the date of this announcement, the executive Directors are Mr. Michael John Hibberd and Mr. Songning Shen, the non-executive Directors are Mr. Hokming Tseung, Mr. Tingan Liu, Mr. Haotian Li and Mr. Gregory George Turnbull and the independent non-executive Directors are Mr. Raymond Shengti Fong, Mr. Robert John Herdman, Mr. Wazir Chand Seth and Mr. Gerald Franklin Stevenson.

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