Canrise Resources Ltd. announces that it has received receipts for its final special warrant prospectus.

CALGARY, Alberta--(BUSINESS WIRE)--May 20, 1997--Canrise Resources Ltd. announced today that it has received receipts from the British Columbia, Alberta and Ontario securities commissions for its final prospectus, dated May 16, 1997.

The final prospectus qualifies the distribution of 2,250,000 Common Shares, which are issuable on the exercise of 2,250,000 special warrants sold by the Corporation in January, 1997.

The proceeds of $15,750,000 from the sale of the special warrants were used by the Corporation to partially fund the acquisition of certain oil and gas assets from Mobil Oil Canada, Ltd. in February, 1997.

The exercise of the 2,250,000 special warrants will result in the Corporation's number of issued and outstanding common shares increasing to 14,305,432.

Canrise is an Alberta based corporation engaged in the exploration, development and acquisition of oil and gas properties in Western Canada. Canrise is listed on the Toronto Stock Exchange under the trading symbol CRE. -0- The Toronto Stock Exchange has neither approved or disapproved the information contained herein.

CONTACT: Canrise

Peter J. Kurceba, president and CEO, 888/262-3385

direct telephone, 403/262-0840

direct fax: [phone]

or

David M. Fisher, CA, VP, Finance and CFO, 888/262-3385

direct telephone: [phone]

direct fax: [phone]