Ms. Louisa DeCarlo reports

CANADIAN SPIRIT RESOURCES INC. ANNOUNCES FIRST QUARTER 2023 FINANCIAL RESULTS

Canadian Spirit Resources Inc. has released interim financial results and management discussion and analysis (MD&A) for the three-month period ended March 31, 2023.

First quarter 2023

This news release summarizes information contained in the unaudited interim financial statements and MD&A for the three months ended March 31, 2023, and should not be considered a substitute for reading these full disclosure documents which are available on SEDAR.

The attached table summarizes certain selected financial data for the three months ended March 31, 2023.

The corporation had a working capital deficit as at March 31, 2023, of $202,107 (Dec. 31, 2022 -- working capital of $259,569). The corporation's shareholders equity is $36,267,249 at March 31, 2023 (Dec. 31, 2022 -- $36,512,423).

The corporation will continue to pursue financing alternatives to maintain the corporation as a going concern as it seeks and evaluates strategic alternatives. Additional necessary financing may be secured through either the issue of new equity or debt instruments or entering into new joint venture or farm-in arrangements.

CSRI is a natural resource company 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 or the corporation's website.

We seek Safe Harbor.