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Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Corporation") has
reached an agreement to amend its credit facility following an annual review by
the Corporation's syndicate of lenders, led by Alberta Treasury Branches and
including National Bank of Canada, Bank of Nova Scotia, Canadian Imperial Bank
of Commerce and Royal Bank of Canada. Arcan's total credit commitment has been
reduced from $190 million to $180 million and will continue to revolve until May
28, 2015.


Under the amended terms, Arcan's credit facility matures on May 28, 2015, unless
the Corporation and its syndicate of lenders agree to an amendment, renewal or
extension of the credit facility. The credit facility's borrowing base was
determined to be $180 million based on Arcan's reserves report for the period
ended December 31, 2013. The credit facility is comprised of a $170 million
syndicated revolving credit facility and a $10 million non-syndicated revolving
operating credit facility. The $180 million borrowing base is subject to a
review by the syndicate on or before October 31, 2014. As of June 6, 2014, Arcan
had a total of $155.0 million drawn on the credit facilities, and is compliant
with its covenants thereunder.


Arcan continues to advance its core objective of delivering sustainable and
profitable production funded by funds from operations, while maintaining a
strong focus on production optimization, cost management and capital efficiency.
The Corporation plans lower capital investments during the second and third
quarters of 2014, when access to the Swan Hills area is limited due to soft
ground conditions, that are expected to provide positive cash flow to help
reduce debt. The credit facility is expected to provide Arcan with financial
flexibility to execute its 2014 capital program. 


ANNUAL AND SPECIAL GENERAL MEETING 

Arcan's annual and special meeting is scheduled for June 24, 2014, at 3:00 p.m.
in the McMurray Room of the Petroleum Club, located at 319 - 5th Avenue SW,
Calgary, Alberta.


About Arcan Resources Ltd. 

Arcan Resources Ltd. is an Alberta, Canada corporation that is principally
engaged in the exploration, development and acquisition of petroleum and natural
gas located in the Western Canada Sedimentary Basin. 


Legal Advisories 

Additional information about the Corporation, including the Corporation's
financial statements, management discussion and analysis, and annual information
form for the year ended December 31, 2013, is available under Arcan's profile on
SEDAR at www.sedar.com. 


Forward-Looking Information and Statements

This press release contains certain forward-looking information and statements
within the meaning of applicable securities laws. The use of any of the words
"will", "plans", "continue", "expect" and similar expressions are intended to
identify forward-looking information or statements. In particular, but without
limiting the foregoing, this press release contains forward-looking information
and statements pertaining to, among other things, the following: Arcan's credit
facility and the maturity date, expected benefits and repayment terms thereof,
the Corporation's business plans and objectives including its plans for capital
spending and the ability of the credit facility to provide Arcan with the
ability to execute its 2014 capital program. 


The forward-looking information and statements contained in this press release
reflect several material factors and expectations and assumptions of Arcan
including, without limitation: that Arcan will continue to conduct its
operations in a manner consistent with past operations; the accuracy of current
horizontal production data, historical well production and waterflood recovery
results; the general continuance of current or, where applicable, assumed
industry conditions; continuity of reservoir conditions across Arcan's Swan
Hills land base; availability of debt and/or equity sources to fund Arcan's
capital and operating requirements as needed; the continuance of existing and,
in certain circumstances, proposed tax and royalty regimes; the accuracy of the
estimates of Arcan's reserve volumes; and certain commodity price and other cost
assumptions. 


Arcan believes the material factors, expectations and assumptions reflected in
the forward-looking information and statements are reasonable at this time but
no assurance can be given that these factors, expectations and assumptions will
prove to be correct. The forward-looking information and statements included in
this press release are not guarantees of future performance and should not be
unduly relied upon. Such information and statements involve known and unknown
risks, uncertainties and other factors that may cause actual results or events
to differ materially from those anticipated in such forward-looking information
or statements including, without limitation: for reasons currently
unanticipated, Arcan's production rates may not increase in the manner currently
expected; the application and modification of horizontal, multi-stage fracture
technologies including the application of additional fracture stimulation stages
may not have the impact currently anticipated by Arcan; Arcan's capital spending
and operational plans for 2014 may not be completed in the timelines
anticipated, in the manner anticipated or at all and the execution of such plans
may not have the results currently anticipated by Arcan; water injection may not
have the impact on production currently anticipated by Arcan; StimSol Canada
Inc. may not impact Arcan's business and operations in the manner currently
anticipated or at all; changes in commodity prices; unanticipated operating
results or production declines; waterflood impacts; Arcan may be unable to solve
its mechanical/operational issues in the timelines anticipated, in the manner
anticipated or at all; shareholder value may not be maximized in the manner
suggested by Arcan or at all; changes in tax or environmental laws or royalty
rates; increased debt levels or debt service requirements; inaccurate estimation
of Arcan's oil and gas reserves volumes; limited, unfavourable or no access to
debt or equity capital markets; Arcan's objectives; and Arcan's budget and the
expected cash flows resulting therefrom; inaccuracies in Arcan's calculation of
reserve life index; for reasons currently unforeseen, the current drilling
locations identified by Arcan may prove to be unsuitable or unavailable and
drilling on the locations identified may not occur; increased costs and
expenses; the impact of competitors; reliance on industry partners; reviews of
Arcan's credit facility and/or budget may not occur on the timelines anticipated
or at all; an amendment, renewal or extension may not be considered by Arcan's
lenders on terms acceptable to Arcan or at all; and certain other risks detailed
from time to time in Arcan's public disclosure documents including, without
limitation, those risks identified in this press release, and in Arcan's annual
information form, copies of which are available on Arcan's SEDAR profile at
www.sedar.com. 


The forward-looking information and statements contained in this press release
speak only as of the date of this press release, and Arcan does not assume any
obligation to publicly update or revise them to reflect new events or
circumstances, except as may be required pursuant to applicable laws. 


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Terry McCoy
Chief Executive Officer
tmccoy@arcanres.com


Douglas Penner
President
dpenner@arcanres.com


Arcan Resources Ltd.
Suite 2200, 500 - 4th Avenue S.W.
Calgary, AB T2P 0H7
Telephone (403) 262-0321

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