An anonymous trustee reports

CANADIAN RESOURCES INCOME TRUST ANNOUNCES APPROVAL OF EXTENSION AND FILING OF PRELIMINARY PROSPECTUS

Holders of units of Canadian Resources Income Trust have overwhelmingly approved the previously announced proposal to extend the trust to March 31, 2020. Pursuant to the extension, the trust will invest in an equally weighted portfolio comprising the 20 highest-yielding natural resource issuers in the S&P/TSX 60 Index, and will establish a covered call writing strategy on no more than 33 per cent of the portfolio. Full details of the extension are included in the management information circular of the trust dated Feb. 5, 2015.

Unitholders who do not wish to continue their investment in the trust after March 31, 2015, must give notice that they wish to exercise the special retraction right described in the circular with respect to their units on or prior to March 16, 2015. Unitholders who wish to retract their units should contact their broker or other intermediary, as they may set a deadline earlier than March 16, 2015. Unitholders who retract their units pursuant to such special retraction right will be paid on March 31, 2015. The extension will become effective provided that at least 800,000 units remain outstanding on March 31, 2015.

The trust has also filed a preliminary prospectus for a public offering of units of the fund. The offering price of the units will be determined so as to exceed the most recently calculated net asset value per unit, plus the agents' fees and the expected expenses of the offering payable by the fund, of existing unitholders as at the date that the final prospectus is filed. Purchasers of units sold under the offering will not be entitled to receive any distribution declared to unitholders on a record date prior to the closing of the offering. Distributions will be paid monthly, and based on current estimates and the assumptions set out in the preliminary prospectus; the trust's initial distribution target is expected to be 6.0 per cent per annum based on the trust's net asset value as at March 31, 2015.

The syndicate of agents for the offering is being led by Scotiabank, and includes BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities LP, Raymond James Ltd., Burgeonvest Bick Securities Ltd., Desjardins Securities Ltd., Dundee Securities Ltd., Mackie Research Capital Corp. and Manulife Securities Inc.

We seek Safe Harbor.