Canada Fluorspar Enters Into Advisory Agreement with Spinnaker Capital

TSX Venture Exchange

Trading Symbol: CFI

TORONTO, March 29 /CNW/ - Canada Fluorspar Inc. (TSX-V: CFI) (the "Company"), a specialty mineral resource company engaged in the development and production of fluorspar deposits, today announced that, subject to regulatory approval, it has appointed Spinnaker Capital Markets Inc. ("Spinnaker") as its capital markets and investor relation advisor. Spinnaker is a Toronto-based advisory firm which provides select public companies with an array of services tailored to raise capital, target and attract institutional and retail investors, increase shareholder value and chart a long-term course for success.

The advisory agreement is for an initial term of six months and may be renewed or further extended on written agreement of the parties. Spinnaker is an arm's length party to the Company and currently has no interest, direct or indirect, in the securities of the Company.

The mandate will be to focus on developing and expanding the network of investors, analysts, and financial intermediaries who are interested in following the CFI developments and investment story. The agreement also provides for a full range of investor relations services in exchange for a monthly retainer of $6,500.

"We are delighted to have been selected by Canada Fluorspar as investor relation and capital markets advisors and look forward to a long and successful relationship," noted Ali Mahdavi, Partner at Spinnaker.

Mr. Lindsay Gorrill, President and CEO of Canada Fluorspar Inc., stated "The CFI team is extremely excited to work with Spinnaker to increase our market exposure, and give us stronger representation in the North American equity markets. This is the next step in our efforts to create the maximum amount of value for our loyal shareholders. Given Spinnaker's track record, we believe that they are the ideal partner and advisor to complement our efforts in delivering shareholder value."

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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. 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 may be affected by a variety of variables and risks. 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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