Crown Point Announces Approval of Advance Notice Bylaw and the Date of Its Annual General and Special Meeting of Shareholders

CALGARY, ALBERTA--(Marketwired - May 1, 2013) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Crown Point Energy Inc. ("Crown Point" or the "Company") (TSX VENTURE:CWV) announces the adoption of an advance notice bylaw (the "Bylaw"). In addition, the Company confirms that its annual general and special meeting of shareholders will be held on Tuesday, June 11, 2013 (the "Shareholders Meeting").

Approval of Advance Notice By-Law

The Bylaw, as approved by the Board, includes, among other things, a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to: (i) a shareholder proposal made in accordance with the Business Corporations Act (Alberta) (the "Act"); or (ii) a requisition of a meeting made in accordance with the Act.

Among other things, the Bylaw fixes a deadline by which shareholders must submit director nominations to Crown Point prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to Crown Point for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Bylaw.

In the case of an annual meeting of shareholders, notice to Crown Point must be made not less than 30 nor more than 65 days prior to the date of the annual general meeting of shareholders; provided, however, that in the event that the annual general meeting of shareholders is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15^th day following the day on which the first public announcement of the date of the special meeting of shareholders was made.

The Bylaw is effective and in full force and effect as of the date hereof. The Bylaw will be put to shareholders of the Company for ratification at the Shareholders Meeting. If the Bylaw is not confirmed at the Shareholders Meeting by ordinary resolution of shareholders, the Bylaw will terminate and be of no further force and effect following the termination of the Shareholders Meeting.

The full text of the Bylaw is available via SEDAR at www.sedar.com.

Shareholders Meeting

The Shareholders Meeting has been scheduled to be held on Tuesday, June 11, 2013 at 2:00 p.m. (Calgary time) at Bantrel Tower Meeting Room on the 2^nd floor of the Bantrel Tower, 700 - 6^th Avenue S.W., Calgary, Alberta. Additional details of the Shareholders Meeting, including the matters to be considered, will be included in the management information circular to be mailed to shareholders and filed on SEDAR at www.sedar.com prior to the Shareholders Meeting in accordance with applicable corporate and securities laws.

Option Grant

Crown Point also announces that its Board of Directors has granted 100,000 options to purchase common shares pursuant to Crown Point's option plan. Each option has an exercise price of $0.26 per share and is exercisable for a period of five years from the date of grant.

About Crown Point

Crown Point Energy Inc. is an international oil and gas exploration and development company headquartered in Calgary, Canada, incorporated in Canada, trading on the TSX Venture Exchange and operating in South America. Crown Point's exploration and development activities are focused in the Golfo San Jorge, Neuquén and Austral basins in Argentina. Crown Point has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a basis for future growth.