SWE

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SilverWillow Energy Corporation ("SilverWillow") (TSX VENTURE:SWE) announces
today that it has entered into a private placement flow-through common share
financing agreement, on a bought deal basis, with a syndicate of underwriters
led by National Bank Financial Inc. Under this agreement, SilverWillow will
issue from treasury 3,200,000 common shares on a flow-through basis for the
purposes of the Income Tax Act (Canada) at a price of $1.25 per share for gross
proceeds of $4.0 million. The flow-through common share offering is scheduled to
close on or about October 18, 2012, and is subject to regulatory approval and
completion of definitive documentation. SilverWillow intends to use the net
proceeds from the private placement to fund a portion of its seismic program and
exploration drilling on its Audet property. 


About SilverWillow Energy

SilverWillow Energy Corporation is a Calgary, Alberta based pre-production oil
sands company with a portfolio of exploration leases in Canada's Athabasca oil
sands. To learn more, please visit www.swenergy.ca.


Forward Looking Information

This news release contains certain "forward-looking information" within the
meaning of applicable securities law. The use of any of the words "will",
"intends" and other similar words or expressions is intended to identify
forward-looking information. More particularly and without limitation, this news
release contains forward-looking information concerning the offering,
anticipated proceeds of the offering, the proposed use of proceeds of the
offering and the anticipated closing date of the offering. 


The forward-looking information in this news release is based on certain key
expectations and assumptions made by SilverWillow, including assumptions as to
the completion of the offering and the timing thereof, the receipt of regulatory
approvals for the offering and the use of proceeds of the offering. Although
SilverWillow believes that the expectations and assumptions on which such
forward-looking information is based are reasonable, undue reliance should not
be placed on the forward-looking information because SilverWillow can give no
assurance that it will prove to be correct.


The forward-looking information in this news release is subject to known and
unknown risks and uncertainties and other factors which may cause actual results
to differ materially from those expressed or implied in the forward-looking
information. Such risks, uncertainties and factors include, among others, the
inherent risks involved in the exploration and development of oil sands
properties, the possibility that SilverWillow may not be able to obtain the
necessary approvals to proceed with the offering, delays in completing the
offering, difficulties or delays in start-up operations, the uncertainties
involved in interpreting drilling results and other geological data, fluctuating
oil prices, the possibility of unanticipated costs and expenses, uncertainties
relating to the availability and costs of financing needed in the future and
other factors including unforeseen delays. As an oil sands enterprise in the
development stage, SilverWillow faces risks including those associated with
exploration, development, start-up, approvals and the ability to access
sufficient capital from external sources.


As a result of the foregoing, readers should not place undue reliance on the
forward-looking information contained in this news release. Readers are
cautioned that the foregoing list of factors is not exhaustive. Additional
information on these and other factors that could affect the operations or
financial results of SilverWillow are included in reports on file with
applicable securities regulatory authorities and may be accessed through the
SEDAR website www.sedar.com.


The forward-looking information contained in this news release is made as of the
date hereof and SilverWillow undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new information,
future events or otherwise, unless so required by applicable securities laws.

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