CPM Announces Exercise of EMR Warrants

Toronto, May 2, 2016 – Crystal Peak Minerals Inc. (“Crystal Peak” or the “Company”) (TSXV: CPM, OTCQX: CPMMF) is pleased to announce that EMR Capital Resources Fund 1, LP (“EMR”) exercised its full contingent of 34,516,129 warrants at a price of C$0.4243 per common share for gross proceeds of C$14.65 million pursuant to its subscription agreement with the Company (dated May 29, 2015 and available on SEDAR at www.SEDAR.com). In addition, Crystal Peak Minerals is concluding negotiations with EMR for an additional non-brokered, private-placement investment of 12,620,331 common shares (“Common Shares”) at a price of $0.4243 per Common Share for gross proceeds of C$5.35 million (the “Offering”). The Offering remains subject to the execution of definitive agreements and TSX Venture Exchange approval.

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