Canada Fluorspar Shareholders Approve Arrangement with Golden Gate Capital

Canada Fluorspar Inc. (TSX VENTURE:CFI)(OTC:CNDFF) ("CFI" or the "Company"), is
pleased to announce that, at the Company's meeting of shareholders held earlier
today, shareholders of the Company have approved a statutory plan of arrangement
with CF Acquisition Inc., a wholly-owned subsidiary of investment funds managed
by Golden Gate Capital ("Acquirer"). The arrangement was approved by the
affirmative vote of approximately 99.8% of the votes cast by the Company's
shareholders and a related continuance resolution, approving the continuance of
the Company from the Province of Alberta to the Province of Ontario, received
the affirmative vote of approximately 99.8% of the votes cast. The arrangement,
which is subject to final court approval at a hearing to be held at 10:00 a.m.
(Toronto time) on May 26, 2014, and other customary closing conditions, is
expected to close on May 29, 2014.


Pursuant to the arrangement that was announced on April 2, 2014, Acquirer will
acquire, by way of the court-approved plan of arrangement in accordance with the
Business Corporations Act (Ontario), all of the issued and outstanding common
shares of the Company (the "Common Shares") at a price of $0.35 per Common
Share, payable in cash. 


About the Company

The Company is a specialty mineral resource company engaged in the development
of fluorspar deposits located in St. Lawrence, Newfoundland, Canada, and is
proposing, through Newspar, its 50/50 joint venture, to reactivate the existing
Blue Beach North and Tarefare underground fluorspar mines, by expanding the
existing mill and constructing a new, environmentally sound Tailings Management
Facility.


For more information please see: www.canadafluorspar.com

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment firm with
approximately $12 billion of capital under management. Golden Gate Capital is
dedicated to partnering with world-class management teams to invest in
change-intensive, growth businesses. The firm targets investments in which there
is a demonstrable opportunity to significantly enhance a company's value. The
principals of Golden Gate Capital have a long and successful history of
investing with management partners across a wide range of industries and
transaction types. For more information, visit www.goldengatecap.com.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


Cautionary Note and Forward-Looking Statements

This press release contains forward-looking statements which include, but are
not limited to, statements regarding the expected timing of the completion of
the sale of the Company to Acquirer as contemplated by the Arrangement Agreement
or other statements that are not statements of fact. There can be no assurances
that any transaction will be completed. These statements are not guarantees of
future events and involve assumptions, risks, and uncertainties that are
difficult to predict. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, it cannot give any
assurance that such expectations will prove to be correct. Many factors could
cause actual results, performance or achievements to be materially different
from any future results, performance or achievements that may be expressed or
implied by such forward-looking statements, including, risks associated with the
Arrangement and acquisition generally, such as: the failure to satisfy the
conditions of the Arrangement; completion of the Arrangement may be more costly
than expected; and the risk of unexpected costs or liabilities relating to the
Arrangement. Such forward-looking statements are also based on a number of
assumptions which may prove to be incorrect, including, but not limited to,
assumptions about the following: the Company and Acquirer will be able to
satisfy the conditions to the Arrangement; the required approvals will be
obtained from the shareholders of the Company; and all third party regulatory
and governmental approvals in connection with the Arrangement, as applicable,
will be obtained and all other conditions to completion of the Arrangement will
be satisfied or waived. Should one or more of the risks or uncertainties
involved in forward-looking statements materialize, or should the assumptions
prove incorrect, actual results may vary materially from those anticipated,
believed, estimated or expected. Accordingly, readers should not place undue
reliance on forward-looking statements.


Forward-looking statements are qualified entirely by this cautionary statement
and are given only as at the date of this press release. The Company disclaims
any obligation to update or revise any forward looking statements, whether as a
result of new information, future events or otherwise, except as required by
law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canada Fluorspar Inc.
Lindsay Gorrill
President and CEO
1-800-823-8095
[e-mail]