Canadian Spirit Resources Inc.
TSX VENTURE : SPI
PINK SHEETS : CSPUF

Canadian Spirit Resources Inc.

June 17, 2011 14:41 ET

Canadian Spirit Resources Inc. Announces Election of New Director

CALGARY, ALBERTA--(Marketwire - June 17, 2011) -Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (OTCBB:CSPUF) is pleased to announce the election of Susannah S. Tam, MBA of Brossard, Québec as a new director of the Corporation. The Annual General Meeting of Shareholders of the Corporation was held June 16, 2011 in Calgary, Alberta.

Ms. Tam has more than 20 years of extensive financial management experience including business analysis and valuation, treasury and capital markets, strategic planning and investor relations. Ms. Tam is currently the Chief Financial Officer of Metafoam Technologies Inc. based in Montréal, Québec, a company pursuing the development and commercialization of an innovative technology in Canada and China. Complementing her financial role, Ms. Tam has had strong operational and consulting success involving start-ups, consolidations, re-structuring and the development of strategic alliances in the Americas and Asia, particularly greater China.

Ms. Tam has acted as a director of public, private and non-profit organizations and has been recognized for her community participation in healthcare and culture.

Commenting on Ms. Tam's election as a director of CSRI, Don Gardner, CEO stated that "Ms. Tam's strategic planning, merger and acquisition and private equity investment experience in both domestic and international settings will prove highly valuable to the Board's deliberations as the Corporation pursues the development of its large natural gas resource project at Farrell Creek, British Columbia."

Following the release of the Corporation's First Quarter 2011 Financial Results, the Corporation proposes to grant Ms. Tam stock options to acquire 75,000 shares subject to approval of the TSX Venture Exchange. Issued pursuant to the terms of the Corporation's Stock Option Plan, these options will have a term of five years and an exercise price expected to be set at the closing price of the Corporation's shares on June 29, 2011.

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

On behalf of the Board of Directors,

CANADIAN SPIRIT RESOURCES INC.

Don Gardner, 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.

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED. THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contact Information

  • Canadian Spirit Resources Inc.
    Don Gardner
    (403) 539-5005
    (403) 262-4177 (FAX)
    don.gardner@csri.ca

    Canadian Spirit Resources Inc.
    Phil Geiger
    (403) 539-5005
    (403) 262-4177 (FAX)
    phil.geiger@csri.ca

    Canadian Spirit Resources Inc.
    Adam Buchanan
    Investor Relations
    (403) 539-5005
    (403) 262-4177 (FAX)
    adam.buchanan@csri.ca