Parex Resources Announces Voting Results for Election of Directors

FOR: PAREX RESOURCES INC.
TSX Symbol: PXT

Date issue: May 11, 2017
Time in: 4:59 PM e

Attention:

CALGARY, AB --(Marketwired - May 11, 2017) -

Not for distribution to US Newswire Services or for dissemination in the United States

Parex Resources Inc. ("Parex" or the "Company") (TSX: PXT) is pleased to announce that on May 11, 2017 it held its annual general and special meeting of shareholders (the "Meeting"). At the Meeting, shareholders approved the election of nine nominees as directors of Parex to serve until the next annual meeting of shareholders or until their successors are elected or appointed, with the number and percentage of common shares represented at the Meeting voting by way of ballot in favour of and withheld from voting for each of the individual nominees as follows:

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FOR WITHHELD ------------------------- ------------------------- Number Percentage Number Percentage ------------- ---------- ------------- ---------- Curtis Bartlett 112,333,899 97.74% 2,592,870 2.26% Lisa Colnett 112,183,926 97.61% 2,742,843 2.39% Robert Engbloom 111,917,137 97.38% 3,009,632 2.62% Wayne Foo 111,893,616 97.36% 3,033,153 2.64% Bob (G.R.) MacDougall 114,781,604 99.87% 145,165 0.13% Glenn McNamara 114,781,504 99.87% 145,265 0.13% Ron Miller 113,875,787 99.09% 1,050,982 0.91% David Taylor 114,205,944 99.37% 720,825 0.63% Paul Wright 113,875,612 99.09% 1,051,157 0.91%

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As part of the Company's succession planning efforts, effective today, Wayne Foo has retired from the office of Chief Executive Officer and transitioned to the role of Chairman of the Board of Directors of the Company and David Taylor, Parex' current President, has assumed the role of President and Chief Executive Officer of Parex. In connection with these changes, Robert Engbloom has been appointed as Parex' Lead Director.

An audio recording of the Meeting will be available at www.parexresources.com.

- END RELEASE - 11/05/2017

For further information:

For more information please contact:

Michael Kruchten
Vice-President Corporate Planning and Investor Relations
Parex Resources Inc.
Phone: (403) 517-1733
Investor.relations@parexresources.com

COMPANY:
FOR: PAREX RESOURCES INC.
TSX Symbol: PXT

INDUSTRY: Energy and Utilities - Oil and Gas
RELEASE ID: 20170511CC017

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