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Lexaria Warrants Exercised

(Vancouver, BC: June 29, 2011) - Lexaria Corp. (the "Company

or Lexaria") announces it has accepted the exercise of 500,000 warrants and has

as a result issued 500,000 common shares of the Company. After this share

issuance, the Company has 15,139,659 shares issued and outstanding.

The Company has received proceeds of $100,000 as a result of

this warrant exercise, which is being credited to general working capital. The

total amount exercised was by a director of the Company.

To learn more about Lexaria Corp. visit

www.lexariaenergy.com.

ON BEHALF OF THE BOARD

"Chris Bunka," President

FOR FURTHER INFORMATION PLEASE CONTACT:

Chris Bunka President/CEO/Chairman

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements within the

meaning of Section 27A of the Securities Act of 1933, as amended, and Section

21E of the Securities Exchange Act of 1934, as amended. Statements which are not

historical facts are forward-looking statements. The Company makes

forward-looking public statements concerning its expected future financial

position, results of operations, cash flows, financing plans, business strategy,

products and services, competitive positions, growth opportunities, plans and

objectives of management for future operations, including statements that

include words such as "anticipate," "if," "believe," "plan," "estimate,"

"expect," "intend," "may," "could," "should," "will," and other similar

expressions are forward-looking statements. Such forward-looking statements are

estimates reflecting the Company's best judgment based upon current information

and involve a number of risks and uncertainties, and there can be no assurance

that other factors will not affect the accuracy of such forward-looking

statements. It is impossible to identify all such factors but they include and

are not limited to the existence of underground deposits of commercial

quantities of oil and gas; cessation or delays in exploration because of

mechanical, weather, operating, financial or other problems; capital

expenditures that are higher than anticipated; or exploration opportunities

being fewer than currently anticipated. There can be no assurance that road or

site conditions will be favourable for field work; no assurance that well

treatments will have any effect on oil or gas production; no assurance that oil

field interconnections will have any measurable impact on oil or gas production

or on field operations, and no assurance that the expected new well(s) will be

drilled or have any impact on the Company. There can be no assurance that

expected oil and gas production will actually materialize; and thus no assurance

that expected revenue will actually occur. There is no assurance the Company

will have sufficient funds to drill additional wells, or to complete

acquisitions or other business transactions. Such forward looking statements

also include estimated cash flows, revenue and current and/or future rates of

production of oil and natural gas, which can and will fluctuate for a variety of

reasons; oil and gas reserve quantities produced by third parties; and

intentions to participate in future exploration drilling. Adverse weather

conditions can delay operations, impact production, and cause reductions in

revenue. The Company may not have sufficient expertise to thoroughly exploit its

properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk. Current oil and gas production rates may not be sustainable and targeted production

rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity,

litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.

The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.