ReconAfrica Provides Response to IIROC Request

/NOT FOR DISSEMINATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATES OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA./

VANCOUVER, Jan. 17, 2020 /CNW/ - Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSX-V: RECO) (OTC: LGDOF) (Frankfurt: 0XD), at the request of the Investment Industry Regulatory Organization of Canada ("IIROC"), announces that, on January 14, 2020, the Goldherz Report, a German investment publication, published a Company-sponsored article in the German language which provides a corporate overview of the Company and reports on its activities in northeast Namibia to date.

A copy of the original German article is posted on the Goldherz Report website (Link: https://www.goldherzreport.de/sonderausgabe-nr12020). The Company has posted an English translation of the original German article on its corporate website (Link: www.reconafrica.com). The Company confirms that the German article does not contain any undisclosed material information pertaining to the business and affairs of ReconAfrica.

The article was published as part of a European public relations campaign that is being conducted by Bull Markets Media GmbH ("Bull Markets") on behalf of the Company. Bull Markets is a leading German online publishing house focused on providing information services about small cap investment opportunities. The arrangement with Bull Markets is for an initial term of twelve months, which expires in September 2020. The Company agreed to pay Bull Markets a sum of Cdn$120,000 in connection with the public relations campaign. The arrangement with Bull Markets is subject to and conditional upon the approval of the TSX Venture Exchange.

As disclosed in its press release dated January 15, 2020, the Company reported experiencing an unusual amount of trading activity during the course of the trading day on January 14, 2020 and advised that there has been no material changes in relation to its business affairs, operations or assets which has not been previously disclosed that would have caused such trading activities.

ReconAfrica is a junior oil and gas company engaged in the development of the newly discovered Kavango Sedimentary Basin, in northeast Namibia, where the Company holds a 90% working interest in a petroleum license, comprising approximately 6.3 million contiguous acres.

The Company cautions that the views and statements expressed in the article are solely those of the author and should not be attributed to the Company or its management.

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

Cautionary Statements: Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on ReconAfrica's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to ReconAfrica. The forward-looking information contained in this release is made as of the date hereof and ReconAfrica undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE Reconnaissance Energy Africa Ltd.