PRESS RELEASE FEBRUARY 12, 2010 Deer Lake Oil & Gas Inc. is pleased to announce that it has commenced drilling operations in the Deer Lake Basin at its Werner Hatch #1 location on Exploration Permit 03-105. Deer Lake Oil & Gas Inc. is also pleased to report that, at the request of the Company, the Honourable Kathy Dunderdale, Minister of Natural Resources, has suspended the Company's Exploration Permit 03-104 for a period of six months effective February 12, 2010. This suspension will facilitate the drilling of the Company's proposed Admirals Rise #1 location on Exploration Permit 03-104 during the summer of 2010. Deer Lake Oil & Gas Inc is a St. John's, Newfoundland and Labrador based, independent oil and gas explorer active in Western Newfoundland both onshore and offshore. For further information
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