XE

Xemplar Energy Corp. (the "Company" or "Xemplar") (TSX VENTURE:XE) announced
today that it has agreed to a reconstitution of its board of directors ("Board")
as part of an agreement with Fursa Master Global Event Driven Fund LP ("Fursa").


The reconstitution of the Board will take place on Monday, December 17, 2012 and
is the result of discussions between the Company and Fursa, one of Xemplar's
major shareholders, aimed at resolving the proxy contest that has been ongoing
between Xemplar and Fursa regarding Xemplar's special meeting of shareholders
that was scheduled to take place on January 15, 2013 (the "Meeting"). As part of
these discussions, Fursa has agreed to withdraw its requisition of the Meeting,
and as a result the Meeting will not be convened.


Ronald Mitchell will no longer be serving as Chairman and a director of Xemplar
and Gerard Pallotta will no longer be serving as Xemplar's Chief Financial
Officer and a director. Messrs. Mitchell and Pallotta have agreed that they will
provide certain consulting services to Xemplar for a period of five months under
their existing management consulting agreements. As part of the Board
reconstitution, Xemplar will appoint two new directors to the Board, resulting
in there being the following four directors: Simon Tam, Ryan E. Cheung, William
F. Harley III and Robert Campbell. In addition, the Board will appoint a fifth
director, on or before January 15, 2013, nominated by Messrs. Mitchell and
Pallotta, who must be independent and at arm's length to each of such
individuals.


As part of implementing the Board transition, releases will be provided among
the parties related to matters occurring up to the date of the Board transition.


The biographies of the new directors of the Company are set out below:

Ryan E. Cheung

Vancouver, BC, Canada

Mr. Cheung graduated with a Bachelor of Commerce in International Business in
2002 from the University of Victoria, and has been an active member of the
Institute of Chartered Accountants of British Columbia since January 2008. Mr.
Cheung spent several years, from September 2003 to May 2008, in public
accounting practice providing assurance, tax and business advisory services. In
September 2008, he founded Midland Chartered Accountants Ltd. in Vancouver, B.C.
He is currently serving as a director of AMI Resources Inc. since April 30 2009,
Midasco Capital Corp. since March 10, 2009, Chief Financial Officer for Shamrock
Enterprises Inc. since 2010 and for Jet Gold Corp. since May 3, 2012.


Robert Campbell

Wilmington, North Carolina, USA

Mr. Campbell is a Certified Public Accountant with the State of New York and is
currently the CFO of Bannon Hospitality, LLC, a company that manages a chain of
restaurants. He has over 20 years of experience in senior management positions
in the fields of accounting and finance. Prior to Bannon Hospitality, LLC, Mr.
Campbell was the CFO of Fursa Alternative Strategies, LLC, a hedge fund in New
York. He began his career in public accounting, most recently as a Manager at
Grant Thornton LLP. Mr. Campbell graduated from the State University of New York
at Albany with a Bachelor of Science in Accounting and a minor in Economics.


The TSX Venture Exchange has in no way passed upon the merits of and has neither
approved nor disapproved the contents of this press release.


On behalf of the Board of Directors of

XEMPLAR ENERGY CORP.

Simon Tam, CEO and Director

Certain statements contained in this press release may include forward-looking
information with respect to the Company's operations and future financial
results. Such statements are based on current expectations, are subject to a
number of uncertainties and risks, and actual results may differ materially from
those contained in such statements. Further information can be found in the
disclosure documents filed by the Company at www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Xemplar Energy Corp.
(604) 687-4191
(604) 871-9926 (FAX)

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