Lexaria Corp. Provides Mississippi Oil Field Update Kelowna, BC

Lexaria Corp. Provides Mississippi Oil Field

Kelowna, BC September 23, 2013 - Lexaria Corp

(LXRP-OTCQB) (LXX-CNSX) (the "Company" or "Lexaria") reports oil

production rates and oil workover operations that are expected to increase

Lexaria expects to conduct a major work-over of the 12-4 well

at Belmont Lake as soon as possible. The workover is designed to replicate, as

much as is possible, the success enjoyed in May of 2012 when two older wells in

the field were similarly worked-over. That work resulted in the highest oil

production rates ever recorded at Belmont Lake oil field.

Timing of field work is always subject to a number of

conditions beyond our control, however the Company expects the reworked 12-4

well to be completed and back into production in less than about 30 days. The

Company will provide additional updates as the work is underway.

Lexaria is also pleased to report consistent oil production

rates so far in 2013. Monthly production has been stable during 2013, reflecting

the high quality of the Belmont Lake oil reservoir. For 2013 the monthly gross

oil production rates are:

Month to month variations are generally not material, and

subject to normal operating conditions such as equipment maintenance and

down-time, weather, and more. The Company is proud to note that, although the

field was subject to floodwaters of the Mississippi from mid-January until

late-July this year during an extended period of high water, the Company did not

lose a single day s production as a result: the artificial lift system in place

Lexaria continues to receive premium pricing for its oil. As

shown above Lexaria is generally receiving a premium to WTI pricing each month

for its oil sales. Oil prices in the first six months of 2013 were generally

comparable to those of 2012. Beginning in early July, prices rose between 15%

and 20% compared to earlier in the year and should lead to improved margins.

All production figures are unaudited, subject to revision and

provided by the Operator, and normal production declines should be expected.

Lexaria has a 42% WI in wells 12-1 and 12-3 and a 50% WI in wells 12-4 and 12-5.

Lexaria s shares are quoted in the USA with symbol LXRP and in

Canada with symbol LXX. The company searches for projects that could provide

potential above-market returns.

To learn more about Lexaria Corp. visit

www.lexariaenergy.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements. 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 favorable for field work; no assurance that well

treatments or workovers 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 any 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 including but not limited to surface flooding can delay operations,

impact production, and cause reductions in revenue. The Company may not have

sufficient expertise to thoroughly exploit its oil and gas 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 and there is

no assurance that the Company will be able to raise required working capital.

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

The CNSX has not reviewed and does not accept responsibility

for the adequacy or accuracy of this release.