Prairiesky Royalty Declares December Dividend

CALGARY, ALBERTA--(Marketwired - Dec. 17, 2015) - PrairieSky Royalty Ltd. ("PrairieSky") (TSX:PSK) announced today that its Board of Directors has declared a dividend of CDN $0.10833 per common share to be paid on January 15, 2016 to shareholders of record on December 31, 2015.

The Board of Directors has declared the dividend payable in either cash or common shares at the election of the shareholder. This dividend is designated as an "eligible dividend" for Canadian income tax purposes.

PrairieSky offers a Dividend Reinvestment Plan ("DRIP") and Stock Dividend Program ("SDP") as optional plans for its shareholders. The DRIP provides the option for Canadian holders of PrairieSky common shares to have their cash dividends reinvested into additional common shares of PrairieSky. The SDP provides the option for shareholders to receive dividends in the form of common shares of PrairieSky in lieu of receiving a cash dividend on the dividend payment date. Common shares issued under the DRIP and SDP are issued at a one per cent discount to the prevailing market price with no broker fees or commissions.

Additional details on how to participate in the SDP and DRIP are available on PrairieSky's website (www.prairiesky.com) and TMX Equity Transfer Services Inc.'s website (www.tmxequitytransferservices.com), or by contacting your financial institution or investment advisor. Participation in the DRIP or SDP is optional. Shareholders who do not wish to participate in the DRIP or SDP will continue to receive cash dividends. Shareholders should carefully read the complete text of the DRIP and SDP before making any decisions regarding their participation in either program. The availability of the SDP and DRIP and the respective terms and conditions are subject to the discretion of PrairieSky's management and the Board of Directors.

About PrairieSky Royalty Ltd.

PrairieSky is a royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating stable free cash flow and that represent one of the largest and most concentrated independently-owned fee simple mineral title positions in Canada. PrairieSky common shares trade on the Toronto Stock Exchange under the symbol PSK.