CALGARY, ALBERTA--(Marketwire - March 27, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

DeeThree Exploration Ltd. ("DeeThree" or the "Corporation") (TSX:DTX) (OTCQX:DTHRF) is pleased to announce that it has completed its previously announced short form prospectus offering (the "Offering"), raising gross proceeds of $17,253,450.

The Offering was led by Dundee Securities Ltd. and included a syndicate of underwriters consisting of Casimir Capital Ltd., Cormark Securities Inc., Macquarie Capital Markets Canada Ltd., Stifel Nicolaus Canada Inc. and NCP Northland Capital Partners Inc. (collectively, the "Underwriters"). Under the Offering, a total of 3,834,100 common shares were issued on a "flow-through" basis (the "Flow-Through Shares") under the Income Tax Act (Canada). This included 500,100 Flow-Through Shares issued pursuant to the full exercise of the over-allotment option by the Underwriters. The completion of the Offering is subject to final approval from the Toronto Stock Exchange.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements, including statements concerning final approval from the Toronto Stock Exchange. We believe the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. The forward-looking statements included in this press release are made as of the date of this press release and DeeThree 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.