Sprott’s Steve Yuzpe joins Long Run Exploration’s board of directors

Steve Yuzpe, president and CEO of Sprott Resource Corp (TSX: SCP), has been appointed to the board of directors of portfolio company Long Run Exploration Ltd, a Calgary-based intermediate energy business focused on light-oil development and exploration in Canada. The appointment follows the departure from Long Run’s board of Paul Dimitriadis, who recently resigned his position at Sprott. Yuzpe was last October named the new head of Sprott, a Toronto-based private equity firm focused on investing in natural resource sectors.

PRESS RELEASE

Long Run Exploration Ltd. Announces Changes to the Board of Directors and Appointment of Vice President, Business Development

CALGARY, ALBERTA–(Marketwired – Feb. 4, 2014) – Long Run Exploration Ltd. (“Long Run” or the “Corporation”) (TSX:LRE) announces the resignation of Mr. Paul Dimitriadis from the Board of Directors effective immediately. Mr. Dimitriadis recently resigned from his position at Sprott Resource Corp., a significant investor in Long Run. On behalf of the Board of Directors and staff of Long Run, Bill Andrew, Chair and Chief Executive Officer, wishes to thank Mr. Dimitriadis for his valuable contributions as a Director of Long Run during the course of his tenure.

Long Run is pleased to announce the appointment of Mr. Steve Yuzpe to the Board of Directors. Mr. Yuzpe is President and Chief Executive Officer of Sprott Resource Corp. and has over 15 years of executive and financial management experience with public and private corporations. Mr. Yuzpe holds a Bachelor of Science, Engineering (Mechanical) degree from Queen’s University along with the Professional Engineering designation (P.Eng.) and a Masters in Business Administration from the Richard Ivey School of Business in London, Ontario. Mr. Yuzpe is also a Chartered Financial Analyst (CFA) charter holder.

Jason Fleury, previously Vice President, Capital Markets, is appointed to the new title and responsibilities of Vice President, Business Development, with a focus on mergers and acquisitions.

Long Run is a Calgary-based intermediate oil company focused on light-oil development and exploration in western Canada. For further information about Long Run, visit the Company’s website at www.longrunexploration.com.

Long Run Exploration Ltd.

William E. Andrew

Chair and Chief Executive Officer

(403) 261-6012

Long Run Exploration Ltd.

Dale A. Miller

President

(403) 261-6012

Long Run Exploration Ltd.

Jason Fleury

Vice President, Business Development

(403) 261-8302

Long Run Exploration Ltd.

Investor Relations

(888) 598-1330

information@longrunexploration.com

www.longrunexploration.com

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