Antrim Energy Inc. Announces Closing of Financing

Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim"), an international oil and gas exploration and production company, is pleased to announce the closing of its previously announced "bought deal" financing. Antrim has sold to a syndicate of underwriters 48,191,700 common shares at a price of C$1.07 per common share for gross proceeds of C$51,565,119 (including proceeds from the issuance of 6,191,700 common shares issued to the underwriters pursuant to the partial exercise (98.3%) of the over-allotment option). The syndicate is led by Cormark Securities Inc., as sole bookrunner, and also includes Mackie Research Capital Corporation, RBC Dominion Securities Inc., CIBC World Markets Inc. and Salman Partners Inc., collectively (the "Underwriters").

Antrim has made an application to the London Stock Exchange for 48,191,700 new shares to be admitted to trading on AIM and admission is expected to take place on Tuesday March 22, 2011. After giving effect to the financing, Antrim has 183,981,544 common shares issued and outstanding.

Proceeds from the Offering will be used to fund the Company's exploration program in the Greater Fyne Area in the UK North Sea and for general corporate purposes.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold in the United States unless an exemption from registration is available.

About Antrim Energy Inc.

Antrim Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada.

Antrim's strategy is to pursue a strategy of balancing longer term and capital-intensive investments in the UK North Sea with shorter investment cycle on-shore exploration and production opportunities. Antrim also considers other global exploration opportunities as they arise.

Additional information concerning Antrim Energy is available at [ www.antrimenergy.com ]. Investor inquiries may be directed to [ info@antrimenergy.com ] or 1-403-264-5111.

Forward-Looking Statements

Some of the statements in this announcement may be forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of Antrim Energy Inc. When used in this announcement, the word "anticipate, expects, estimates" and similar expressions, and the negatives thereof, whether used in connection with drilling activity, reserves of neighboring properties or otherwise, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Antrim's control. Please refer to Antrim's Annual Information Form for the year ended December 31, 2009 and dated March 23, 2010 and available for viewing at [ www.sedar.com ], for a list of risk factors. Antrim's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Antrim will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Antrim or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release.

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Antrim Energy Inc. Announces Closing of Financing