Mr. Murray McCartney reports

CROWN POINT ANNOUNCES RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2015

Crown Point Energy Inc. has released its operating and financial results for the three months ended March 31, 2015. All dollar figures are expressed in United States dollars unless otherwise stated.

"Subsequent to the end of the first quarter of 2015, Crown Point achieved an important milestone by completing a $15-million strategic financing that will support the company's 2015 exploration and development programs in Tierra del Fuego and Cerro de Los Leones," said Murray McCartney, chief executive officer of Crown Point. "This quarter we realized a moderate increase in average daily sales volumes and net production, due in part to four wells brought on production since December, 2014. We remain focused on continuing to execute on our comprehensive exploration and development program, which we expect will drive further improvements in production."

Copies of the company's unaudited condensed interim consolidated financial statements and related management's discussion and analysis for the first quarter of 2015 are being filed with Canadian securities regulatory authorities and will be made available under the company's profile on SEDAR and on the company's website.

Since Jan. 1, 2015, the company:

• Completed the second tranche of a $15.0-million strategic financing where two strategic investors subscribed for and purchased 34,034,296 common shares of the company for gross proceeds of $8.5-million at 25 cents per share;
• Reported $4.0-million of oil and gas revenue for the first quarter of 2015, a 17-per-cent increase compared with the three months ended March 31, 2014. Revenue per barrels of oil equivalent in the first quarter of 2015 was $29.97, a 9.7-per-cent increase compared with the first quarter of 2014. This increase was largely due to the 22.5-per-cent increase in oil sales volumes and 10.5-per-cent increase in gas prices earned in the first quarter of 2015 compared with the first quarter of 2014;
• Reported first-quarter 2015 Tierra del Fuego average sales volumes of 1,499 barrels of oil equivalent per day, a 16-per-cent increase from the average daily sales volumes in the fourth quarter of 2014, as a result of the company's drilling and recompletion programs. First-quarter 2015 TDF average daily sales volumes increased 7.0 per cent from the first quarter of 2014 due to the sale of inventoried volumes of oil and new wells brought on production in December, 2014, and March, 2015. Production from new wells was offset by restricted production from some existing wells due to gathering system constraints and unscheduled compressor repair and maintenance activities;
• Reported a 20-per-cent decrease in general and administrative expenses in the first quarter of 2015 compared to the fourth quarter of 2014, partly attributable to management's efforts to reduce costs. First-quarter 2015 G&A expenses decreased 3 per cent from the first quarter of 2014;
• Reported a $1.6-million loss from continuing operations, a 4.6-per-cent decrease from the first quarter of 2014. First-quarter 2015 loss per share from continuing operations was one cent compared with two cents in the first quarter of 2014;
• Continued to advance the 14-well development, recompletion and exploration program in TDF, in which the company holds a 25.78-per-cent interest in three exploitation concessions, including the successful fracture stimulation of PQ x-1001. The well was drilled to a total depth of 1,939 metres with approximately 14 metres of potential gross oil and gas pay and is currently being tested;
• Completed the drilling of three additional development wells, LFE-1001, LV-112 and SLx-1004, on the Las Violetas concession. LFE-1001 was cased as a potential gas well after encountering a potential 7.5-metre gross gas bearing interval in the Springhill formation;
• LV-112 has been cased as a potential Springhill formation gas well with 15 metres of potential gross pay;
• SLx-1004 was cased on May 22, 2015, as a potential Springhill gas well with seven metres of potential gross pay. All three wells are scheduled for completion and testing in June, 2015;
• Commenced the acquisition of new 3-D seismic in TDF, comprising approximately 50 square kilometres, 52 square kilometres and 120 square kilometres on the Rio Cullen, La Angostura and Las Violetas concessions, respectively.

Outlook

The company anticipates the following activities to occur during the remainder of 2015:

• Completing the LFE-1001, LV-112 and SLx-1004 development wells;
• Completing the acquisition, processing and interpretation of new 3-D seismic in TDF in preparation to drill one exploration well on each of the Rio Cullen and La Angostura concessions in the fourth quarter of 2015; and identifying additional step-out locations in Los Flamencos for drilling in 2015 and 2016;
• Continuing the TDF fracture stimulation program which includes LFE-1003, LF-1029, LFE-1004, LF-1028 and LFE-1001. Remedial work is planned for LF-1028 during the second quarter of 2015;
• Re-entering and retesting the Vega del Sol x-1 and Vega del Sol x-3 wells in CLL in the fourth quarter of 2015.

Capital expenditures

Crown Point estimates a total of $11.5-million of capital expenditures for 2015, comprising $9-million on the TDF concessions and $2.5-million on the CLL concession, of which the company spent $3.1-million and $100,000 during the first quarter of 2015, respectively. Crown Point expects to meet these obligations, along with its other anticipated expenses, from funds flow from continuing operations, working capital (which totalled approximately $800,000 at the end of the first quarter of 2015) and the $5.8-million in proceeds received in April, 2015, from the completion of the second tranche of the strategic financing as described above.

                       SUMMARY FINANCIAL INFORMATION
                                                          Three months ended    
                                                                    March 31,
                                                           2015         2014       

Oil and gas revenue                                 $ 4,042,683  $ 3,443,793  
Net (loss) from continuing operations                (1,647,320)  (1,726,954)
Net (loss) per share -- continuing operations             (0.01)       (0.02)     
Net (loss) from discontinued operations                       -     (109,751)  
Net (loss) per share from discontinued operations             -        (0.00)
                                                    ------------ ------------     
Net (loss)                                          $(1,647,320) $(1,836,705)
                                                    ============ ============
Net (loss) per share                                      (0.01)       (0.02)     
Funds flow from continuing operations                    78,631      600,014    
Funds flow per share -- continuing operations              0.00         0.01       

We seek Safe Harbor.