The Board of Directors of AKITA Drilling Ltd. approved an ordinary cash dividend of $0.08 per share on the Outstanding Class A Non-Voting and Class B common shares of the corporation for payment on July 2, 2013 to shareholders of record at the close of business June 18, 2013.

AKITA Drilling Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company’s revenue was CAD 60,761,000 against CAD 68,177,000 a year ago. Income before income taxes was CAD 16,703,000 against CAD 18,624,000 a year ago. Net income and comprehensive income for the period attributable to shareholders was CAD 12,495,000 against CAD 13,904,000 a year ago. Basic and diluted earnings per Class A and Class B Share were CAD 0.70 against CAD 0.77 a year ago. Net cash from operating activities was CAD 6,356,000 against CAD 5,142,000 a year ago. Capital expenditures were CAD 6,044,000 against CAD 12,688,000 a year ago. Funds flow from operations was CAD 19,985,000 against CAD 20,366,000 a year ago.

AKITA Drilling Ltd.'s Board of Directors approved an ordinary cash dividend of $0.08 per share on the Outstanding Class A Non-Voting and Class B Common shares of the Corporation for payment on April 1, 2013 to shareholders of record at the close of business March 18, 2013. On an annualized basis, this represents a 14% increase in dividend rates. This dividend is an eligible dividend for Canadian Income Tax Purposes.