St. Lawrence Fluorspar Mine Reactivation Project

TSX Venture Exchange

Trading Symbol: CFI

Review of the Provincial and Federal Environmental Assessment Report Completed

TORONTO, Jan. 21 /CNW/ - Canada Fluorspar Inc. is pleased to announce that it has received a letter from the Honorable Charlene Johnson, the Provincial Minister of Environment and Conservation, advising that "the public and the Assessment Committee review of CFI's Environmental Preview Report (EPR) and the Federal Environmental Assessment Report has been completed in accordance with the requirements under the Newfoundland and Labrador Environmental Protection Act and the Canadian Environmental Assessment Act." The Minister has requested further information to be submitted before making the final decision.

"We are pleased with the outcome of this review, CFI and their environmental consultants will be able to provide the requested additional information within approximately one month", said Mr. Lindsay Gorrill, President and CEO of CFI. "We are also very happy to acknowledge the strong support from the Province and the local communities for the project, and we thank them for that" he added.

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"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Cautionary Note Regarding Forward-Looking Information:

This news release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, in particular comments relating to expectations relating to the timing of the submission of the additional information requested in respect of CFI's Environmental Preview. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct.

Results of the Company, including its ability to provide the requested information in regard to the Environmental Preview Report, may be affected by a variety of variables and risks associated with the mining and mineral processing industry. As such the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. The Company has, in part, relied on information, reports and forecasts provided by third parties involved in the industry and by the Company's management and there is no assurance that the assumptions, forecasts or information relied upon by the Company are correct, or will not be affected by events or circumstances beyond the control of the Company. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.

SOURCE Canada Fluorspar Inc.

For further information: For further information: Lindsay Gorrill, President and CEO, Canada Fluorspar Inc., Tel: (208) 667-1278

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Canada Fluorspar Inc.

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