PRIMARY PETROLEUM CORPORATION NEWS RELEASE Trading Symbol:Canada: TSX-V: PIE PK: PETEF PRIMARY PETROLEUM COMPLETES EXERCISE OF WARRANTS, RAISES OVER FOUR MILLION DOLLARS October 26, 2010 � Calgary Alberta - Primary Petroleum Corporation (TSX-V: PIE; PK:PETEF) ("Primary" or the "Company") is pleased to report that the "Call Notice" issued on September 20, 2010 with regards to the exercise of 26,700,000 warrants has been fully exercised.

The Company is in receipt of $4,005,000 from the proceeds of the warrant exercise.

"The funds from the exercise of the warrants will be used for: - Continuation of its Land Acquisition Strategy on a geological merit basis within the Alberta Basin Bakken Fairway of Western Montana.

- Ongoing technical evaluation and the collection of key data from the 18 well logs that have been drilled through the Bakken formation on or in close proximity to Primarys current leases.

- General working capital.

Primary is continuing to meet with potential joint venture partners to exploit both of its Bakken Prospects in the Alberta Basin of Western Montana and in the Williston Basin of North Eastern Montana.

About Primary Petroleum Corporation: Primary is a junior oil and gas company engaged in exploration and development activities in Montana and Alberta.

The Companys mandate is to continue to acquire strategic land positions of merit in the Sedimentary Basin of the Western United States and Canada and seek out industry partners to exploit and develop them.

To find out more about Primary Petroleum visit our website at www.primarypetroleum.com.

For further information please contact: PRIMARY PETROLEUM CORP.

Mike Marrandino, President & CEO PH: 403-262-3132 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. Primary Petroleum Corp Suite 800, 744-4th Avenue SW Calgary Alberta T2P 3T4 Canada You are subscribed to this mailing list as .

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