Canada Fluorspar Inc. (TSX VENTURE:CFI) ("CFI" or the "Company") is pleased to
announce that the escrow release condition to the previously announced strategic
agreement with Arkema to re-activate CFI's fluorspar project located in St.
Lawrence, Newfoundland has been satisfied. 


Further to the Company's press release of October 21, 2011, Arkema's investment
of $60 million and CFIs investment $14 million has been released from escrow
into Newspar, a newly formed general partnership held equally by CFI and Arkema,
and the mining rights and permits related to the Blue Beach mine, the Tarefare
mine have also been transferred into Newspar.  


In addition, subscription receipts held by Arkema since June 27, 2011 issued at
$0.75 per share will be converted to 10,357,722 common shares and $7.76 million
held in escrow has been released to CFI. 


About the Company 

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 Harbour for the export of fluorspar concentrate product.
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