Mr. Glenn Leroux reports

CANADIAN PREMIUM SAND INC. ANNOUNCES OPTION GRANTS

Canadian Premium Sand Inc. has granted an aggregate of 1.3 million share options to acquire common shares of the company. The options have been granted to Canadian Premium Sand's executive officers and employees in accordance with the provisions of its omnibus equity incentive compensation plan.

The options are exercisable at 12 cents per common share expiring April 24, 2031. As of the date hereof, there are 92,627,156 common shares issued and outstanding, and, therefore, a maximum of 9,262,715 options, RSUs (restricted share units), DSUs (deferred share units), PSUs (performance share units) and other share-based awards on a combined basis are permitted to be granted under the plan, of which an aggregate of 6,097,000 options are outstanding.

After consideration of the company's historical compensation practices and retention needs, the desire for alignment of employee and shareholder interests, Canadian Premium Sand's annual option grant practices, and the previously disclosed strategic review process, the special committee of the independent directors of the company (of which no options will be granted to the members thereof) determined that the grant of options will promote management continuity and operational stability while the company evaluates a range of strategic alternatives. The special committee also determined that the grant of options are is intended to influence the outcome of the strategic review and that the terms and timing of the grant of options are consistent with historical compensation practices and applicable legal and regulatory requirements. Further, the vesting of the options is conditioned on continued service and is not contingent upon the consummation of any specific transaction, and the company has not made any determination regarding the likelihood, timing or form of any potential strategic outcome.

About Canadian Premium Sand Inc.

The company is developing its Wanipigow silica sand resource in Manitoba to supply fracture proppant to the Western Canada sedimentary basin, along with other applications for high-purity and low-iron silica sand, including the manufacture of solar and float glass. The company is a reporting issuer in Ontario, Alberta and British Columbia. Its shares trade on the TSX Venture Exchange under the symbol CPS.