Canadian Spirit Resources Inc. Announces First Quarter 2015 Financial Results - Seite 2

• The significant drop in commodity prices at the end of 2014 has had a continued negative impact on the energy sector in Canada. CSRI's response has been to defer capital spending at Farrell Creek/Altares and to maintain its financial flexibility. In doing so, the Corporation ended the first quarter 2015 in the enviable position of having positive working capital and no debt. In addition, CSRI has no current obligations on its Farrell Creek/Altares lands.
• The downturn has had the positive effect of significant cost reductions for services. The Corporation is integrating these new costs into its capital expenditure plans to better assess future funding requirements.
• The combined effects of industry activity, principally drilling and land sale results proximal to CSRI's lands, and of newly approved pipeline infrastructure, notably the TCPL North Montney Mainline crossing the Farrell Creek/Altares lands, continue to enhance the Corporation's potential as a meaningful contributor to the natural gas supply system in northeastern British Columbia and Alberta.

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

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

Canadian Spirit Resources Inc.
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Rich Couillard
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