INA

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN
UNITED STATES


Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) announces that
pursuant to the terms of its stock option plan, Iona's Board of Directors has
approved the granting of options to purchase an aggregate of 7,420,000 common
shares at a price of $0.63 per share, of which, 5,970,000 options were granted
to insiders. The options will have a term of five years and time vesting
provisions with 25% vesting immediately and a further 25% vesting on the first,
second and third anniversaries of the date of grant.


As of March 5, 2013, Iona has 366,723,568 common shares issued and outstanding.

About Iona Energy:

Iona is an oil and gas exploration, development and production company focused
on oil and gas development and exploration in the United Kingdom's North Sea.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Iona Energy Inc.
Neill A. Carson
Chief Executive Officer
+011 (44) 7919 057989


Iona Energy Inc.
Brad G. Gunn
Chief Financial Officer
(403) 775-7442

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