2nd Floor, 315 – 39th Avenue S.E.

Calgary, Alberta T2G 1X5 CANADA

Phone: +1 (403) 277 – 4421 Fax: +1 (403) 277 – 4439

www.penninepetroleum.com

Pennine Update of Legal Proceedings

April 14, 2010 - CALGARY, ALBERTA – Pennine Petroleum Corporation (PNN on TSX.V) (the “Company”) announces the following update from the current Statement of Claim initiated by Montello Resources Ltd. Pennine continues to believe this current legal proceeding is of a frivolous nature, and plans to vigorously defend itself.

Pennine announced it had reached an agreement to sell its interest in the Pincher Creek property on August 21, 2009, and received TSX approval of submissions for such sale on September 16, 2009. This information was publicly disseminated and filed on SEDAR on the respective dates.

As of today’s date, Montello is in arrears with respect to funds owed to Pennine, and therefore is not entitled to assignment pursuant to the CAPL Operating Procedure. Pennine has not received any indication as to when such funds will be received.

Pennine continues to be up to date on its filings for the fiscal year, with its filing deadline for annual financial documents being April 30, 2010. The financials, management discussion and analysis, and oil and gas disclosure documents will be filed in a timely manner as required under securities regulations.

Pennine also continues to evaluate certain oil and gas projects in both the United States and Canada, with focus on maximizing shareholder value.

About Pennine Petroleum Corporation

Pennine Petroleum Corporation is an emerging oil and gas exploration and development company active in Alberta, Saskatchewan, and British Columbia. The Company’s strategy is based on increasing cash flow by focusing on drilling and well re-completions on selective land areas where it currently operates.

For further information, contact:

Pennine Petroleum Corporation

N. Desmond Smith

T: 403 277-4421

F: 403 277-4439

E: des.smith@penninecorp.com

Boardmarker Group

Dean Stuart

T: 403 517 2270

E: dean@boardmarker.net

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.