Canadian Spirit Resources Inc. Announces The Second Quarter December 31, 2023 Financial Results - Seite 2

Review of Strategic Alternatives

The Corporation continues to work with Sayer Energy Advisors to review strategic alternatives and maximize the value of the Corporation's Montney resource base at Farrell Creek and Altares.

For further information regarding the strategic process, please contact CSRI’s CEO, Louisa DeCarlo at 403-618-2113, or Tom Pavic at Sayer Energy Advisors at 403-266-6133.

Warrant Exercise

The Corporation also announces that Elmag Investments Inc. (“Elmag”), has exercised the remaining 10,000,000 warrants of the Corporation issued to Elmag on March 15, 2022 to purchase an additional 10,000,000 common shares in the capital of the Corporation (a “Common Share”) at a price of $0.08 per Common Share.

Information regarding CSRI is available on SEDAR+ at www.sedarplus.com or the Corporation’s website at www.csri.ca.

On behalf of the Board of Directors

CANADIAN SPIRIT RESOURCES INC.

"Louisa DeCarlo"

President and Chief Executive Officer

For further information, please contact:

Canadian Spirit Resources Inc.

Attention:         Louisa DeCarlo
Telephone:      [phone]
Email:               [e-mail]

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