Clear Mountain Advances Debt Financing for Acquisition of Osage Property

Clear Mountain Resources Corp. ("Clear Mountain" or the "Company") (TSX
VENTURE:CY) announces that negotiations for the debt portion of the financing to
complete the Company's proposed acquisition of certain oil and gas assets
situated in Osage County, Oklahoma (the "Acquisition") as more particularly
disclosed in the Company's news releases of November 5, 2013 and December 13,
2013 are advancing with a known financial institution in the United States. 


The Company is seeking a senior secured first lien credit facility of up to
US$200 million (the "Credit Facility"), with an initial borrowing base
commitment of up to US$57 million (the "Initial Borrowing Base"), with a
syndicate of banks and other financial institutions. It is anticipated that
US$50 million of the Initial Borrowing Base will be available for the funding
the Acquisition, subject to conditions and certain hedge requirements, with the
flexibility to increase the Initial Borrowing Base from time to time to fund
additional acquisitions, capital expenditure programs and general corporate
purposes including letters of credit and working capital, subject to lenders'
consent. The Credit Facility is expected to be for a term of four years and bear
interest at LIBOR plus the applicable margin or Base Rate plus the applicable
margin, all to be defined in the formal credit documentation. The Credit
Facility will also be secured by a perfected first priority mortgage, security
interest and assignment of production covering the Company's oil and gas
properties and associated assets and all other personal property of the Company.
Completion of the Credit Facility will be subject to numerous conditions
precedent including, but not limited to, completion of satisfactory due
diligence, title opinions and formal documentation, the Company having received
a minimum of US$70 million in equity financing to fund, among other things, the
balance of the purchase price of the Acquisition, the domestication of the
Company from British Columbia to Delaware as announced on January 6, 2014 and
closing of the Acquisition. A cash arrangement fee will also be payable in
connection with the Credit Facility in accordance with industry standards.


About Clear Mountain 

Clear Mountain Resources Corp. is a junior mineral resource exploration company
with its head office in Vancouver, British Columbia, Canada. The Company's
principal business is the identification, evaluation and acquisition of mineral,
oil and gas properties, and the subsequent exploration and operation thereof.


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. 


This news release contains forward-looking statements, which relate to future
events or future performance and reflect management's current expectations and
assumptions. Such forward-looking statements reflect management's current
beliefs and are based on assumptions made by and information currently available
to the Company. Readers are cautioned that these forward looking statements are
neither promises nor guarantees, and are subject to risks and uncertainties that
may cause future results to differ materially from those expected. Specifically,
the Acquisition is subject to numerous conditions precedent to closing including
the completion of a satisfactory due diligence and title review by the Company
and regulatory approvals. There are no assurances that all conditions precedent
will be satisfied or waived or that the purchase and sale of the Osage Property
will be successfully completed on the terms and conditions contemplated herein
or at all. Additionally, the purchase and sale of the Osage Property is subject
to the Company completing a concurrent financing of not less than US$108 million
on or before January 31, 2014 and there are no assurances that the Company will
be successful in raising such capital to complete the Acquisition including, but
not limited to, the Credit Facility on commercially reasonable terms or at all.
All of the forward-looking statements made in this news release are qualified by
these cautionary statements and those made in our Canadian continuous disclosure
filings available on SEDAR at www.sedar.com. These forward-looking statements
are made as of the date hereof and the Company does not assume any obligation to
update or revise them to reflect new events or circumstances save as required
under applicable securities legislation. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Clear Mountain Resources Corp.
Richard Barth
President and Chief Executive Officer
[phone]
[e-mail]
www.clearmountainresources.com