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Press release from CNW Group

Canada Fluorspar Files Qualifying Prospectus

Monday, February 14, 2011

Canada Fluorspar Files Qualifying Prospectus16:48 EST Monday, February 14, 2011TSX Venture ExchangeTrading Symbol: CFITORONTO, Feb. 14 /CNW/ - Canada Fluorspar Inc. (the "Company") is pleased to announce it has filed and obtained a receipt for its final long form prospectus qualifying for distribution 11,000,000 units of the Company, each comprised of one common share (a "Common Share") in the capital of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.75 per Common Share at any time prior to June 16, 2012. The Common Shares and Warrants are issuable upon the exercise or deemed exercise of 11,000,000 common share special warrants (the "Common Share Special Warrants") which were issued on December 16, 2010 in connection with a previously announced private placement financing (the "Offering") through a syndicate of investment dealers led by Dundee Securities Ltd., and including GMP Securities L.P., Jennings Capital Inc. and Paradigm Capital Inc. All unexercised Common Share Special Warrants will be deemed to be exercised on Tuesday, February 22, 2011, being the fifth business day after the receipt was issued for the final prospectus, resulting in the issue of 11,000,000 Common Shares and 5,500,000 Warrants.The net proceeds from the Offering will be used to develop the Company's fluorspar deposits located in St. Lawrence, Newfoundland and for general working capital purposes.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.comThis 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."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."Advisory Regarding Forward Looking StatementsThis press release contains forward-looking statements which include, but are not limited to: current development and operating objectives and outlook, expectations, opinions, forecasts, projections, guidance, the timing for obtaining a receipt for its prospectus, 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; 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.For further information: On behalf of Canada Fluorspar Inc.:Lindsay Gorrill President and CEO Canada Fluorspar Inc. Tel: 1-800-823-8095 lgorrill@canadafluorspar.com-or-Ali Mahdavi Partner Spinnaker Capital Markets Inc. am@spinnakercmi.com