CFI Califfi Capital Corp

Canada Fluorspar Inc. (TSX VENTURE: CFI) (the "Company") today reported its financial results for the three month period ending March 31, 2011. Copies of these documents may be obtained via www.sedar.com.

In a press release dated June 15, 2011 the Company announced a joint agreement with Arkema ("Arkema") (PA: AKE) to finance the re-activation of CFI's fluorspar project located in St. Lawrence, Newfoundland, Canada. On June 27, 2011 the Company announced the completion of the initial investment by Arkema related to the joint agreement.

ABOUT CANADA FLUORSPAR INC.

The Company is a specialty mineral resource company engaged in the development and production of fluorspar deposits at its property located in St. Lawrence, Newfoundland, Canada, and is moving forward to reactivate existing underground fluorspar mines, expand an existing mill, construct a new, environmentally-sound Tailings Management Facility and build a new deep-water marine terminal in the outer St. Lawrence Harbor for the export of fluorspar concentrate product.

For more information please see: www.canadafluorspar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

Advisory Regarding Forward Looking Statements

This press release contains forward-looking statements which include, but are not limited to: anticipated timing for completion of metallurgical testing, the Company's feasibility study and pilot plant testing, obtaining financing to continue with construction on the Company's St. Lawrence property, current development and operating objectives and outlook, 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 associated with mining development, such as loss of market, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, ability to access sufficient debt and equity capital from internal and external sources, ability to generate sufficient cash flow to meet its current and future obligations, regulatory approvals affecting construction and mining operations and continued demand for fluorspar. As a consequence, actual results could differ materially from those anticipated or implied in the forward-looking statements.

The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this news release. 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, event, results or circumstances or otherwise.

"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."

Contacts: Canada Fluorspar Inc.: Lindsay Gorrill President and CEO 1-800-823-8095 lgorrill@canadafluorspar.com Spinnaker Capital Markets Inc. Ali Mahdavi Partner am@spinnakercmi.com