CALGARY, ALBERTA–(EMWNews – July 23, 2008) – Canadian Spirit Resources Inc. (“CSRI” or the “Company”) (TSX VENTURE:SPI) (PINK SHEETS:CSPUF) announces that 1,474,000 of the 1,526,500 share purchase warrants issued July 18, 2007 with a term of one year have been exercised at a price of C$1.10 per share for a total proceeds of C$1.62 million.

As a result of the exercise of these warrants, the Company now has 48,635,401 shares outstanding.

CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. The mission of the Company is to develop 1 tcf of natural gas from unconventional resource plays in western Canada. Through two joint ventures, the Company is currently evaluating the productive capability of both its shallow Gething play (1.8 tcf discovered resource – see News Release dated May 8, 2007) and its deeper Montney play (2 wells being drilled – see News Release dated June 23, 2008). Both of these plays are located on the Company’s principal resource property at Farrell Creek, British Columbia.

On behalf of the Board of Directors,

CANADIAN SPIRIT RESOURCES INC.

Don Gardner, Chief Executive Officer

The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.