North American Oil & Gas Announces Execution of Non-Binding Term Sheet for Private Placement of $2 Million

North American Oil & Gas Corp. (the “Company” or “NAMG”) (OTCBB:NAMG) is pleased to announce that the Company executed a non-binding Term Sheet to raise $2,000,000 with a California-based fund. The Company is working with the fund to finalize the terms of the Rule 506 private placement (without registration rights) and will provide further updates in due course. The proceeds from the funding will be used to fund future acquisitions the company has identified and for working capital purposes.

Bob Rosenthal, CEO of NAMG, stated, “I am delighted with the opportunities that this funding can bring to the Company. The investment community is providing a chance for the Company to invest in valuable and profitable projects. The ability to close this funding without the need for registration will greatly reduce the time period in acquiring new assets for NAMG.”

About North American Oil and Gas Corp

North American Oil & Gas Corporation (“NAMG”) is a publicly-listed (OTCBB - NAMG) oil and gas Company. The Company is focused on the prolific San Joaquin Basin, onshore California, with existing foundation assets targeting exploration and exploitation of high impact oil and gas projects located near infrastructure and existing discoveries. For more information on North American Oil & Gas Corp., visit www.namoag.com.

Forward-Looking Statement

This press release may contain “forward-looking information” statements under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are not guarantees of the Company’s future performance and are subject to risks, uncertainties and other important factors that could cause actual performance to be materially different from what is projected. Such factors include, but are not limited to: the ability to raise sufficient capital to fund exploration and development; the quantity of and future net revenues from the Company’s reserves; oil and natural gas production levels; commodity prices, foreign currency exchange rates and interest rates; capital expenditure programs and other expenditures; supply and demand for oil and natural gas; schedules and timing of certain projects and the Company’s strategy for growth; competitive conditions; the Company’s future operating and financial results; and the risk that legal and regulatory developments will not occur. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company undertakes no obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.