Clear Mountain Announces 51-101 Compliant Reserve Estimates of $295 Million PV-10 and 19.4 Million Barrels of Oil Equivalent

Clear Mountain Resources Corp. ("Clear Mountain" or the "Company") (TSX
VENTURE:CY) is pleased to announce that Cawley, Gillespie & Associates ("Cawley
Gillespie"), a Texas based independent qualified reserves evaluator, has
performed National Instrument 51-101 compliant reserve calculations dated
November 18, 2013 and prepared as of October 1, 2013 (the "Estimates")
estimating reserves and future net revenue for the assets ("Assets") outlined in
a binding letter of intent ("LOI") between Clear Mountain and Performance Energy
Resources LLC (PERL) involving approximately 75,710 gross acres of leased lands
in Osage county, Oklahoma, of which approximately 87% is held by production. The
terms and conditions of the LOI to acquire the Assets were announced in the
Company's press release of November 5, 2013.


Cawley Gillespie estimates, as of October 1, 2013, the Assets contain total
proven reserves (P1) at 19,428 Mboe (thousands of barrels of oil equivalent)
with future net revenues of US$295.8 million before income tax (net of all
drilling and completion costs), discounted at 10% annually (PV-10). The
estimated net reserves of the Assets and future net revenues before income tax
(net of drilling and completion costs) to the Company (assuming completion of
the Acquisition) based on the P1 assumptions are highlighted in the table below:




----------------------------------------------------------------------------
                                                 Future Net Revenue Before  
                           Net Reserves                Income Taxes         
                                                 (Thousands U.S. dollars)   
                     -------------------------------------------------------
Category                 Oil      Gas                  Discount Rate        
                        Mbbl   (MMcf)    Mboe         5%       10%       15%
                     -------------------------------------------------------
Proved Developed                                                            
 Producing             3,817    6,962   4,978  $ 123,663 $  80,999 $  61,361
Proved Developed Non-                                                       
 Producing               728    2,866   1,206  $  34,024 $  23,666 $  18,197
Proved Undeveloped     9,491   22,521  13,245  $ 311,304 $ 191,145 $ 128,678
                     ------- -------- ------- ---------- --------- ---------
Total Proved          14,037   32,349  19,428  $ 468,990 $ 295,810 $ 208,235
----------------------------------------------------------------------------



Cawley Gillespie is in the process of compiling a National Instrument 51-101
compliant report that will also include probable reserve calculations.


The reserves shown above are estimates only and should not be construed as exact
quantities. While proved reserves are those reserves which can be estimated with
a high degree of certainty to be recoverable, there are no guarantees that the
estimated reserves will be recovered. Furthermore, the above future net revenue
figures represent estimated values only and do not represent fair market value.


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 LOI 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 transaction 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.


Boe Conversion

The term "boe" is used in this news release. Boe may be misleading, particularly
if used in isolation. A Boe conversion ratio of 6 Mcf: 1 bbl is based on an
energy equivalency conversion method primarily applicable at the burner tip and
does not represent a value equivalency at the wellhead.


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