Canadian Spirit Resources Inc. Exercise of Warrants Brings Recent Funding Total to $7.8 Million

Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI)
(OTCBB:CSPUF) is pleased to announce that 5,775,901 of the share purchase
warrants issued December 20, 2013, with an expiry term of twelve months have
been exercised at a price of $0.30 per warrant for total proceeds of $1.7
million. Combined with the closing of two recent private placements announced on
June 4th and June 19th, the Corporation has raised total gross proceeds of $7.8
million.


As a result of the exercise of these warrants, the Corporation now has
128,050,592 million common shares outstanding and a strong cash position of
approximately $9.3 million with no debt.


The Corporation is currently drilling a 100% working interest horizontal well
located at c-81-H/94-B-1. The well was spud on June 23rd and is expected to be
finished drilling by the end of July. The well may be fracture stimulated and
tied-in for production at a later date.


CSRI is a natural resources Corporation focusing on the identification and
development of opportunities in the unconventional natural gas sector of the
energy industry.


Information regarding CSRI is available on SEDAR at www.sedar.com or the
Corporation's website at www.csri.ca.


On behalf of the Board of Directors

CANADIAN SPIRIT RESOURCES INC.

Alfred Sorensen, Chief Executive Officer & Secretary

The corporate information contained in this news release may contain
forward-looking forecast information. The reader is cautioned that assumptions
used in the preparation of such information, although considered reasonably
accurate by CSRI at the time of preparation, may prove to be incorrect. The
actual results achieved during the forecast period will vary from the
information provided herein and the variations may be material. Consequently
there is no representation by CSRI that actual results achieved during the
forecast period will be the same in whole or in part as those forecast.


NEITHER THE 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 NEWS RELEASE


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Spirit Resources Inc.
Alfred Sorensen
403) 539-5005
[e-mail]


Canadian Spirit Resources Inc.
Phil Geiger
403) 539-5005
[e-mail]
www.csri.ca