Canadian Spirit Resources Inc.
TSX VENTURE : SPI

Canadian Spirit Resources Inc.

July 13, 2007 15:24 ET

Canadian Spirit Resources Inc. Extends Expiry Date of Warrants

CALGARY, ALBERTA--(Marketwire - July 13, 2007) - Canadian Spirit Resources Inc. ("CSRI" or the "Company") (TSX VENTURE:SPI) announces that it has extended the expiry date on 3,200,000 share purchase warrants (the "Warrants") from August 11 and August 15, 2007 to December 14, 2007. The exercise price of $2.50 and all other terms of the Warrants remain unchanged. Each whole warrant entitles the holder to acquire one additional share of the Company.

This extension will enable CSRI to complete and announce the results of the first phase of the Company's pilot production project at Farrell Creek, British Columbia before the Warrants expire. Operations to complete this first phase will begin shortly and are expected to be completed by late August 2007.

Elmag Investments Inc. which currently holds 11.4 percent of the outstanding shares of the Company owns 1,080,000 of the Warrants.

CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Company is to develop 1 tcf of natural gas from unconventional resource plays in western Canada. Within four years, the Company has identified a 1.8 tcf resource play, assembled a unique, high working interest land position in over 42,000 gross acres (of which 40,000 are located in British Columbia) and is currently evaluating the productive capability of its principal resource property at Farrell Creek, British Columbia.

On behalf of the Board of Directors,

CANADIAN SPIRIT RESOURCES INC.

Phillip D.C. Geiger, President & Chief Operating Officer

OTC Bulletin Board Symbol (Foreign) "CSPUF"

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.
    Phil Geiger
    President & Chief Operating Officer
    (403) 539-5005
    (403) 262-4177 (FAX)
    Email: phil.geiger@csri.ca
    or
    Canadian Spirit Resources Inc.
    Don Gardner
    (403) 539-5005
    (403) 262-4177 (FAX)
    Email: don.gardner@csri.ca
    or
    BRISCO Capital Partners Corp.
    Gordon W. Aldcorn
    Investor Relations
    (403) 262-9888
    (403) 263-1339 (FAX)
    Email: ir@csri.ca