AKITA Declares Dividend

CALGARY, ALBERTA, May 7, 2012 – AKITA Drilling Ltd.'s Board of Directors approved the payment of a quarterly dividend to shareholders.

AKITA Drilling Ltd.'s Board of Directors approved an ordinary cash dividend of seven cents ($0.07) per share on the Outstanding Class A Non-Voting and Class B Common shares of the Corporation for payment on July 3, 2012 to shareholders of record at the close of business June 19, 2012. This dividend is an eligible dividend for Canadian Income Tax Purposes.

AKITA is an Alberta corporation engaged in the contract drilling business and is listed on the Toronto Stock Exchange under the symbol AKT.

For further information please contact:

Mr. Murray Roth
Vice President, Finance and Chief Financial Officer
(403)292-7950