EMERALD BAY FILES AMENDED MANAGEMENT DISCUSSION AND ANALYSIS

May 17 2017

Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) announces that the Company filed an amended management discussion and analysis (the “Re-filed MD&A”) for the annual period ended December 31, 2016. The nature and substance of the material changes to the Re-filed MD&A are as follows:

1. The addition of Selected Annual Information for the three most recently completed financial years as required by section 1.3 of Form 51-102F1.
2. Related party clarification regarding the Company’s PRI investment.
3. Explanatory disclosure regarding a $200,000 share subscription receivable being netted against share capital as at December 31, 2016.
4. Information about any person or company known to beneficially own 10 percent or more of the voting securities of the Company.
5. Information regarding a director of the Company that had previously served as director of another company that, in 2010, had filed for CCAA proceedings.

ABOUT EMERALD BAY

Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas producer with production properties in Western Canada and South Texas. The common shares of Emerald Bay trade on the TSX Venture Exchange under the symbol "EBY". Please visit www.ebyinc.com.

For further information, please contact:
Emerald Bay President, Shelby D. Beattie, (403) 262-6000, info@ebyinc.com
CHF Investor Relations, D’Arcy Funfer, (403) 669-5157, darcy@chfir.com
 
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.