SPI Canadian Spirit Resources Inc

Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI)
(OTCBB:CSPUF) announces that it has accepted certain subscriptions on its
non-brokered private placements previously announced on May 26, 2014. The
Corporation may accept further subscriptions in regards to these private
placements.


In the first private placement, the Corporation issued 3,060,000 units ("Units")
at a price of $0.50 per Unit. Each Unit consists of one common share of the
Corporation and one half of one common share purchase warrant ("Warrants"). Each
whole Warrant entitles the holder to purchase one common share of the
Corporation at $0.50 up to June 3, 2015.


In the second private placement, the Corporation issued 7,040,000 common shares
on a flow-through basis pursuant to the Income Tax Act (qualifying for Canadian
Exploration Expense) at a price of $0.50 per share.


The total gross proceeds raised from both private placements was $5.1 million.
Finders' fees of $295,500 were paid in consideration of the private placements.
As a result of the closing of both private placements, there are now 120,224,691
common shares of CSRI outstanding. All securities issued or issuable as a result
of both private placements are subject to a hold period under Canadian
securities laws until October 4, 2014.


The net proceeds from both private placements will be used to drill a horizontal
well at c-81-H/94-B-1 and for general corporate purposes. This 100% working
interest well, located at Farrell Creek, British Columbia is expected to be spud
prior to June 24, 2014 and will serve to retain land as well as being
potentially fracture stimulated and tied-in for production.


The private placements are considered related party transactions under
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions ("MI 61-101") as J.R. Richard Couillard, a Director of the
Corporation, has participated in the private placements by purchasing 200,000
Units. Upon completion of both private placements Mr. Couillard owns 0.32% of
the outstanding common shares of the Corporation, and 0.40% of the outstanding
common shares of the Corporation assuming full exercise of the Warrants. The
transactions are exempt from the formal valuation and minority shareholder vote
requirements of MI 61-101 as the fair market value of the private placements
does not exceed 25% of the Corporation's market capitalization.


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
alfred.sorensen@csri.ca


Canadian Spirit Resources Inc.
Phil Geiger
(403) 539-5005
phil.geiger@csri.ca
www.csri.ca

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