CPS announces shareholder approval of a new Restricted Share Unit Plan

CALGARY, March 30, 2021 - Canadian Premium Sand Inc. ("CPS" or the "Company") (TSXV: CPS) is pleased to announce shareholder approval of a new Restricted Share Unit Plan ("RSU Plan").

At the Company's annual and special meeting of shareholders held on March 30, 2021 (the "Meeting"), the Company's disinterested shareholders approved the resolution to adopt the new RSU Plan.

Under the new RSU Plan, restricted share units ("RSUs") may be granted to directors, officers, employees and consultants. The RSU Plan permits the Company to either redeem RSUs for cash or issue common shares of the Company from treasury to satisfy all or any portion of a vested RSU award. The maximum number of common shares of the Company which are issuable upon the redemption of all RSUs under the RSU Plan is of 2,124,446 common shares of the Company which represents approximately 10% of the issued and outstanding common shares of the Company on the date of approval of the RSU Plan in accordance with the policies of the TSX Venture Exchange (the "Exchange").

Further details regarding the RSU Plan are included in the management proxy circular of the Company, which was filed on SEDAR in connection with the Meeting.

About Canadian Premium Sand Inc.

The Company is developing its Wanipigow silica sand deposit and evaluating markets to support the basis for a sustainable float glass operation in Manitoba. The Company is a reporting issuer in Ontario, Alberta and British Columbia. Its shares trade on the TSX Venture Exchange under the symbol "CPS".

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.

CONTACT INFORMATION:
Canadian Premium Sand Inc.
Glenn Leroux
President and Chief Executive Officer
glenn.leroux@cpsmail.com

Investor Relations
IR@cpsmail.com
587.355.3714
www.canadianpremiumsand.com