Lipari Energy Inc.

TORONTO, ONTARIO--(Marketwire - March 22, 2012) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR THROUGH U.S. NEWSWIRE SERVICES

Lipari Energy, Inc. ("Lipari") (TSX:LIP) announces that Dan Geiger has resigned from the Board of Directors of Lipari, effective immediately.

The board of directors of Lipari would like to recognize the contribution of Mr. Geiger and thank him for his service.

About Lipari:

Lipari was organized under the laws of the State of Delaware in 2008 and is a thermal coal producer with current operations and additional development properties in the Central Appalachian region of the United States. Lipari has been in production since 2008 and has diversified surface and highwall mining operations. Lipari sells predominantly to utilities through a mix of forward contracts and short‐term sales. Lipari's growth strategy includes continued growth its organic reserves over the next five years through its enhanced drilling program, as well as from its focused and disciplined approach to strategic acquisitions. Lipari's corporate office is located in London, Kentucky.

This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release may include certain "forward‐looking statements" under applicable Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to: future exploration and the business and operations of Lipari. Forward‐looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the price of crude oil and natural gas; and the results of current exploration. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. Lipari 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 required by law.