Native American Energy Group Provides Corporate Update

FOREST HILLS, NY--(Marketwire - Mar 22, 2012) - Joseph D'Arrigo, President and CEO of Native American Energy Group, Inc. (OTCQB: NAGP) (PINKSHEETS: NAGP), today provided a formal corporate update on the Company's business plan progression, commenting on important milestones that have been achieved over the past eight months and clarifying key corporate and operational objectives for the months ahead. Mr. D'Arrigo stated:

"In August 2011, Native American Energy Group (NAGP) commenced the initial phase of work-over and enhanced oil recovery operations on five wells located on our four leases in the Williston Basin in Northeastern Montana -- a milestone that we had been working towards for several years, however was delayed due to challenges both internal and external. Globally, like many companies, we were affected by challenging economic conditions in conjunction with poor commodity prices with respect to oil and gas, as well as the global capital markets, at large.

"With the economy rebounding and the price of oil skyrocketing, we seized the opportunity to move our plans forward early last year. NAGP's work-over and completion plan for our five wells was based on a defined capital formation strategy that provided for an initial bridge financing of $750,000. The bridge loan commenced on August 2, 2011 and was to be completed in a few weeks thereafter followed by an equity offering to raise the funds necessary to repay the bridge and provide the additional capital necessary to complete the wells and bring them into full production. However, the full bridge loan was ultimately received in 15 disbursements over a four-month period ending November 29, 2011, causing us to postpone the equity offering. Due to the erratic and prolonged distributions of the bridge funds, we needed to change our preliminary plan of operation by dividing the work-over operations into two phases, rather than one. In addition to a potential equity offering, we are currently pursuing other options which strategically make the most sense in order to advance our Williston Basin, five well work-over program through to the completion of all wells and commence production, as well as pay back the outstanding bridge and certain secured loans.

"By the end of December 2011, the bridge funding had allowed us to successfully complete the first phase of the operation on four of the five wells, providing for the application of lateral jetting enhanced oil recovery (EOR) technology. This, in turn, enabled us to produce and sell a total of 1095 barrels of oil from two wells during this initial phase. Notwithstanding any delays in securing further financing, it is our plan to move forward with the second and final phase of the project, which entails installation of new surface equipment and re-entering and completing all five wells in the second quarter of 2012. Moreover, we are also actively pursuing acquisition and merger candidates to continue the growth and diversification of the Company.

"Internally, our most vital issue is a 'Global Lock,' also known as a compliance chill that was placed on our common stock by the Depository Trust Company (DTC), a subsidiary of the Depository Trust & Clearing Corporation (DTCC). [DTC facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants' accounts. This eliminates the need for physical movement or delivery of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations.] Due to this Global Lock, NAGP's common stock cannot trade electronically and is currently trading only by physical delivery of paper stock certificates. This has impeded our shareholders' ability to actively trade NAGP's common shares in the open market as well as our ability to finalize funding on favorable terms for the Company due to the lack of a trading market for any shares issued as part of a financing transaction.

"We are currently communicating with the appropriate departments at DTC and providing them with the requested documentation necessary to lift the global lock and have our DTC privileges restored. Based on our latest discussions with DTC, we believe we are making tangible progress and hope to have this issue finally addressed and behind us as soon as possible.

"Despite all of the challenges, our commitment has never wavered. The incremental successes we've accomplished over the past eight months, when viewed collectively, have given us every reason to be confident about the future of our Company which includes several promising growth prospects. There is still much work to be done with undoubtedly more hurdles to overcome; yet this will ultimately ensure that Native American Energy Group endures and prospers for many years to come," concluded D'Arrigo.

About Native American Energy Group, Inc.
Native American Energy Group, Inc. is a New York-based, energy resource development and management company with three principal projects: development and management of its oil & gas interests and operations in the Williston Basin, Montana; development of coal-bed methane natural gas ("CBM") in the Cook Inlet Basin in Alaska; and planned implementation of vertical-axis wind turbine power generation technology for the production of clean, cost-efficient green energy throughout the USA, including Alaska and on all U.S. Native American tribal lands. For more information, please visit www.nativeamericanenergy.com or email NAGP@efcg.net.

Forward-Looking Statements
This release, (as well as media publications and videos accessible on our website and YouTube page: http://www.youtube.com/nativeamericanenergy), includes "forward-looking statements" as defined by the SEC. Any statements in this news release that are not historical facts are forward-looking statements that involve risks and uncertainties. Words such as "estimate," "expect," "would," "target," "goal," "potential," and forms of those words and others indicate forward-looking statements. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on our business, including important factors which could affect actual results are discussed in the Company's filings with the SEC, including its Annual Report on Form 10-K under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations."