whitecap announces filing of preliminary prospectus and disclosure of selected unaudited 2010 results

WHITECAP ANNOUNCES FILING OF PRELIMINARY PROSPECTUS AND DISCLOSURE OF SELECTED UNAUDITED 2010 RESULTS

CALGARY, ALBERTA – Whitecap Resources Inc. (“Whitecap” or the “Company”) is pleased to announce that it has filed and obtained a receipt for its preliminary prospectus with respect to its previously announced public offering of 20,000,000 subscription receipts ("Subscription Receipts") which includes selected unaudited year end and fourth quarter 2010 financial and operating information. The offering is scheduled to close on or about March 29, 2011 and is subject to customary regulatory approvals including the approval of the Toronto Stock Exchange.

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