TOUCHSTONE RELEASES INAUGURAL SUSTAINABILITY REPORT

CALGARY, ALBERTA (December 29, 2021) - Touchstone Exploration Inc. ("Touchstone", "we", "our", "us" or the "Company") (TSX, LSE: TXP) is pleased to present its inaugural 2020 Sustainability Report (the "Report"), outlining our progress and initiatives on environmental, social and governance ("ESG") practices. This Report was approved by the Company's Board of Directors and provides all stakeholders insight into our environmental stewardship, community involvement and effective governance standards.

Paul Baay, President and Chief Executive Officer, commented:

"Our strategy while developing this sustainability report was to keep it aligned with the Company's vision and values which hold environmental stewardship, social responsibility and corporate governance at the forefront."

Our 2020 ESG highlights included:

·      committed to having zero produced water released into the environment from 2023 onward;

·      established a greenhouse gas emissions baseline from which we can continue to minimize our environmental footprint;

·      achieved zero employee incidents, confirming our dedication to safety;

·      adapted our operations quickly during the COVID-19 pandemic while ensuring the well-being of our employees and supporting residents within the communities we operated; and

·      initiated an HSSE Committee (Health, Safety, Social and Environmental) of the Board mandating specific ESG and sustainability responsibilities.

Our Report was driven by various ESG reporting standards for the 2020 calendar year that followed the Global Reporting Initiative Sustainability Reporting Standards 2018 (GRI) and the Sustainability Accounting Standards Board - Oil and Gas - Exploration and Production (EM-EP) Standard (SASB) as well as the guidelines set forth by the Task Force on Climate-related Financial Disclosure (TCFD). The full Report can be accessed on our corporate website (www.touchstoneexploration.com).

Touchstone Exploration Inc.

Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol "TXP".

For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:

Mr. Paul Baay, President and Chief Executive Officer                             Tel: +1 (403) 750-4487

Mr. Scott Budau, Chief Financial Officer

Mr. James Shipka, Chief Operating Officer

Shore Capital (Nominated Advisor and Joint Broker)

Daniel Bush / Toby Gibbs / Michael McGloin                                           Tel: +44 (0) 207 408 4090

Canaccord Genuity (Joint Broker) 

Adam James / Henry Fitzgerald O'Connor / Thomas Diehl                     Tel: +44 (0) 207 523 8000

Camarco (Financial PR)

Billy Clegg / Emily Hall / Lily Pettifar                                                        Tel: +44 (0) 203 781 8330

Advisories

Forward-Looking Statements

Certain information provided in this announcement may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, forecasts, estimates, expectations, and objectives for future operations that are subject to assumptions, risks, and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Certain of these risks are set out in more detail in the Company's 2020 Annual Information Form dated March 25, 2021 which has been filed on SEDAR and can be accessed at www.sedar.com. The forward-looking statements contained herein are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.