Vancouver, British Columbia--(Newsfile Corp. - April 12, 2021) - Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCF) ("Permex" or the "Company)", is pleased to announce the results of the Company's Annual General Meeting of Shareholders (the "Meeting") held in Vancouver, British Columbia on April 9, 2021.

All of the matters presented to shareholders for consideration and approval in the Company's Management Information Circular were approved with near-unanimous support. A brief list of the most important items of business conducted at the Meeting is as follows:

Election of Directors

The number of Directors of the Company to be elected at the Meeting was fixed at six. The Directors nominated for the ensuing year include the re-election of Mehran Ehsan, Scott Kelly, Barry Whelan, Gregory S. Montgomery, Edward A. Odishaw and Douglas Charles Urch be elected as the directors of the Company. The shareholders approved the election of Mehran Ehsan, Scott Kelly, Barry Whelan, Gregory S. Montgomery, Edward A. Odishaw and Douglas Charles Urch as the directors of the Company.

Appointment of Auditors

Shareholders approved the appointment of Davidson & Company LLP, as Permex's auditor for the ensuing year or until their successor is appointed.

Stock Option Plan

Shareholders re-approved the Stock Option Plan pursuant to which the directors may, from time to time, authorize the issuance of options to directors, officers, employees and consultants of the Company and its subsidiaries to a maximum of 10% of the issued and outstanding common shares at the time of the grant.

CAUTIONARY DISCLAIMER STATEMENT:

Neither Canadian Securities Exchange, OTCMarkets nor their Regulation Services Providers (as that term is defined in their respective policies) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE, OTC Markets nor their Regulation Services Providers (as that term is defined in the policies of either exchange) accepts responsibility for the adequacy or accuracy of this release.

Mehran Ehsan
President, Chief Executive Officer & Director
(778)-373-5421

Scott Kelly
CFO, Corporate Secretary & Director
(778)-373-5421

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