TAG Oil Announces Director Resignation and Stock Option Grants

Vancouver, B.C. – September 25, 2020 – TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) announces the following corporate updates.

Board of Directors

Mr. Peter Loretto has resigned from his position as a non-executive director of the Company for personal reasons. TAG’s management and its board of directors would like to sincerely thank Mr. Loretto for his many contributions and commitment during his time with the Company.

The Company’s board of directors now consists of Messrs. Abdel (Abby) Badwi (Executive Chairman), Toby Pierce (CEO), Shawn Reynolds, Thomas Hickey, Keith Hill, and Gavin Wilson.

Stock Options

TAG also announces the grant of 775,000 stock options that are exercisable for a period of five years at a price of C$0.25 per share to various officers, directors, and staff members. The options fully vested on the grant date. This is part of TAG’s ongoing strategy of granting share options to attract and retain talent, as well as motivating its team to work towards ensuring the success and value creation at TAG.

About TAG Oil Ltd.

TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian based international oil and gas explorer with exploration and production assets in Australia.

For further information:

Chris Beltgens, Vice President, Corporate Development
Phone: 604.682.6496
Email: info@tagoil.com
Website: http://www.tagoil.com/

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain of the statements made and information contained herein is considered “forward-looking information” within the meaning of applicable Canadian securities laws, including statements with regard to the Company’s operations. These statements address future events and conditions and are reliant on assumptions made by the Company’s management, and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.