TORONTO, ONTARIO--(Marketwired - May 26, 2016) - Crystal Peak Minerals Inc. ("Crystal Peak" or the "Company") (TSX VENTURE:CPM)(OTCQX:CPMMF) is pleased to announce that, further to its press releases dated May 2, 2016 and May 18, 2016, it has closed its previously announced non-brokered, private-placement with EMR Capital Resources Fund 1, LP ("EMR"), pursuant to which the Company issued to EMR 12,620,331 common shares at a price of C$0.4243 per common share for gross proceeds of approximately C$5.35 million (the "Offering").

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Crystal Peak intends to use the funds received from the Offering to continue work on its premium specialty fertilizer project on the Sevier Playa in southwestern Utah, U.S.A. including advancing work identified in its Preliminary Feasibility Study; efforts to complete its Feasibility Study; Environmental Impact Statement and other permitting; and for general working capital purposes.

The common shares issued in the Offering are subject to a hold period expiring September 26, 2016 in accordance with the rules and policies of the TSX Venture Exchange (the "TSXV") and applicable Canadian securities laws and such further restrictions as may apply under foreign securities laws. The Offering remains subject to the final approval of the TSXV.

EMR has increase its holdings in the Company to approximately 84.8 million common shares representing approximately 43.2% of Crystal Peak's outstanding shares.

About Crystal Peak Minerals Inc.

Crystal Peak is focused on the production of premium specialty fertilizers and other beneficial minerals. Crystal Peak controls, directly or through agreement, mineral leases on more than 124,000 acres on its Sevier Playa Project. With a brine mineral resource known to contain potassium, lithium, magnesium, sulphate, and a suite of other associated minerals; Crystal Peak is targeting the production of specialty fertilizers including SOP through the use of a cost-effective solar evaporation process. SOP and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts. Crystal Peak is currently engaged in engineering and analysis designed to support a feasibility study, environmental permitting, and ultimately mineral production.

Neither the 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.