TCF

CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX
VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) announces that it has received breach
notices from Ephindo International CBM Holding Inc. under its participation
agreement dated January 17, 2007, as amended and shareholders' agreement dated
April 16, 2009 governing the Company's participating interest in the Kutai West
production sharing contract (the "Kutai West PSC") located in the Kutai Basin of
East Kalimantan, Indonesia. The declared breaches arise from the non-payment of
two cash calls totaling US$125,430 due from the Company in March and April. The
Company has 30 days from the date of receipt of the breach notices (being June
9, 2014) to rectify the breaches, failing which the Company's interest in the
Kutai West PSC may be forfeited. 


The Company further announces the resignation of James Hurren as Chief Financial
Officer. Mr. Hurren has agreed to continue with the Company in a consulting role
to assist in the completion of the Company's outstanding audited financial
statements for the year ended December 31, 2013, and unaudited financial
statements for Q1 2014 pending the Company's appointment of a new CFO.


Donna Moroney has resigned as corporate Secretary. She and her company, Wiklow
Corporate Services Inc., will continue to provide services to the Company on a
consulting basis. 


Further to its news release dated April 16, 2014, the British Columbia
Securities Commission, the Company's principal regulator, issued a Management
Cease Trade Order ("MCTO") against the Company's Chief Executive Officer and
Chief Financial Officer on May 1, 2014, as opposed to a general cease trade
order against the Company. The MCTO prohibits trading in securities of the
Company, either directly or indirectly, by these individuals. 


As summarized in the Company's News Release dated April 16, 2014 (the "Default
Notice") this action was expected due to the fact that the Corporation was
unable to file its annual financial statements, Management's Discussion &
Analysis and related Chief Executive Officer and Chief Financial Officer
certificates for its fiscal year-ended December 31, 2013 (the "Required
Filings") before the April 30, 2014 filing deadline (the "Filing Deadline"). 


The Company advises that it was also unable to file its first quarter unaudited
financial statements, Management's Discussion & Analysis and related Chief
Executive Officer and Chief Financial Officer certificates for the three months
ended March 31, 2014 by the filing deadline of May 30, 2014 (the "Q1 Required
Filings"). 


Pursuant to the requirements of Section 4.4 of National Policy 12-203 -
Alternative Information Guidelines the Company reports the following: 


(i) There have been no material changes to the information contained in the
Default Notice and the Company expects to file the Required Filings and Q1
Required Filings on or before June 30th 2014; 


(ii) There have been no failures with respect to the Company fulfilling its
stated intention of satisfying the requirements of filing the Required Filings
and Q1 Required Filings. 


(iii) There has not been, nor is there anticipated to be, any specified default
subsequent to the default which is the subject of the Default Notice; and 


(iv) There is no other material information about the affairs of the Company,
except as set out above, that has not otherwise been reported.


The Company confirms that it intends to satisfy the provisions of the
alternative information guidelines so long as it remains in default of this
filing requirement, being the provision of bi-weekly updates by way of news
release.


ABOUT CBM ASIA DEVELOPMENT CORP.

CBM Asia Development Corp. is a Canadian-based unconventional gas company with
significant coalbed methane ("CBM") exploration and development opportunities in
Indonesia. The Company holds various participating interests in five production
sharing contracts (each a "PSC") for CBM in Indonesia. Indonesia has one of the
largest CBM resources in the world with a potential 453 trillion feet3 in-place,
more than double the country's natural gas reserves (Stevens and Hadiyanto,
2004). Since 2008, a total of 54 CBM PSCs have been granted by the Government of
Indonesia, representing exploration commitments of well over US$100 million
during the next 3 years. In addition to CBM Asia, other companies active in CBM
exploration in Indonesia include BP, Dart Energy, ENI, Medco, Santos, and TOTAL.
BP, ENI, and the Indonesian government have confirmed that commercial CBM
production started in March 2011 from the Sanga-Sanga PSC and is being exported
from the Bontang LNG facility. The Company trades on the TSX Venture Exchange
under the symbol "TCF".


ON BEHALF OF CBM ASIA DEVELOPMENT CORP. 

Charles W. Bloomquist, President & CEO

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CBM Asia Development Corp.
Charles Bloomquist
604.684.2340 or Toll Free: 866.504.4755
604.684.2474 (FAX)
corpcom@cbmasia.ca
www.cbmasia.ca


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