Vancouver, BC, Canada – January 6, 2012 – Simba Energy Inc. (the “Company”) announces that the Company has agreed to extend the expiry date of warrants issued on January 20, 2011, with an original expiry date of January 20, 2012. There are currently 21,161,250 warrants outstanding, each warrant exercisable into one common share of the Company at a price of $0.12 per share. The warrants were issued pursuant to a private placement of 42,322,500 shares with 21,161,250 warrants attached. Subject to the acceptance of the TSX Venture Exchange, the new expiry date of the warrants will be January 20, 2013. The exercise price of the warrants will remain at $0.12 per share.

On Behalf of the Board,

“Robert Dinning”, President and CEO

For further information, contact Robert Dinning, President and CEO of the Company at:

Telephone: (604) 641-4450 Facsimile: (604) 669-9335

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”