diff --git a/deployments/workloads/workload.yaml b/deployments/workloads/workload.yaml
index 0faf937..bd5e191 100644
--- a/deployments/workloads/workload.yaml
+++ b/deployments/workloads/workload.yaml
@@ -15,7 +15,7 @@ spec:
       runtimeClassName: wasmtime-spin
       containers:
         - name: spin-hello
-          image: ghcr.io/spinframework/containerd-shim-spin/examples/spin-rust-hello:v0.20.0
+          image: ghcr.io/spinframework/containerd-shim-spin/examples/spin-rust-hello:latest
           command: ["/"]
           resources: # limit the resources to 128Mi of memory and 100m of CPU
             limits:
diff --git a/release.md b/release.md
index 742b4c3..b6aef99 100644
--- a/release.md
+++ b/release.md
@@ -4,25 +4,24 @@ To cut a new release of the `containerd-shim-spin`, you will need to do the
 following:
 
 1. Confirm that [CI is
-   green](https://github.com/spinkube/containerd-shim-spin/actions) for the
-   commit selected to be tagged and released.
+   green](https://github.com/spinframework/containerd-shim-spin/actions) for the commit selected to be
+   tagged and released.
 
-1. Change all references of the version number in package
-   
-   * [Cargo.toml](./Cargo.toml), 
-   * [quickstart](./containerd-shim-spin/quickstart.md), 
-   * [README](./README.md),
-   * [deployments](./deployments/), 
-   * [images](./images/). 
-   * [CHANGELOG.md](./CHANGELOG.md) the Unreleased section should be updated with the new version number and the date of the release. Update the links to new version tag in the footer of CHANGELOG.md
-   
-   Run `cargo build
-   --release` to make sure lockfiles reflect Cargo.toml updates. Add a new
-   column to the [README shim and Spin version
-   map](./README.md#shim-and-spin-version-map) that lists the version of the
-   Spin dependencies for the release.
-   
+1. Change all references of the version number in repository using the [`version.sh`](./scripts/version.sh) script, which
+   updates all Cargo manifests and README documentation to use a bumped version. Specify a major,
+   minor, or patch version update using the `-m`, `-n`, `-p` flags, respectively.
+   ```sh
+   # Update minor version (1.2.3 -> 1.3.0)
+   scripts/version.sh -n
+   ```
 
+1. Update [CHANGELOG.md](./CHANGELOG.md). The Unreleased section should be updated with the new
+   version number and the date of the release. Update the links to new version tag in the footer of
+   CHANGELOG.md.
+
+1. Add a new column to the [README shim and Spin version map](./README.md#shim-and-spin-version-map)
+   that lists the version of the Spin dependencies for the release.
+   
 1. Create a pull request with these changes and merge once approved.
 
 1. Checkout the commit with the version bump from above.
@@ -35,12 +34,12 @@ following:
     # Create a GPG-signed and annotated tag
     git tag -s -m "Containerd Shim Spin v0.15.0" v0.15.0
 
-    # Push the tag to the remote corresponding to spinkube/containerd-shim-spin (here 'origin')
+    # Push the tag to the remote corresponding to spinframework/containerd-shim-spin (here 'origin')
     git push origin v0.15.0
     ```
 
 1. Pushing the tag upstream will trigger the [release
-   action](https://github.com/spinkube/containerd-shim-spin/actions/workflows/release.yaml).
+   action](https://github.com/spinframework/containerd-shim-spin/actions/workflows/release.yaml).
     - The release build will create binary releases of the shim and upload these
       assets to a new GitHub release for the pushed tag. Release notes are
       auto-generated but edit as needed especially around breaking changes or
diff --git a/scripts/version.sh b/scripts/version.sh
new file mode 100755
index 0000000..f528a3f
--- /dev/null
+++ b/scripts/version.sh
@@ -0,0 +1,111 @@
+#!/bin/bash
+
+OTHER_FILES=${MD_FILES_TO_UPDATE:-"containerd-shim-spin/quickstart.md, images/spin-dapr/README.md, deployments/k3d/README.md"}
+
+get_version()
+{
+    pkg_version=$(cargo pkgid --package containerd-shim-spin-v2)
+    version=$(echo $pkg_version | sed -E 's/.*@([0-9]+\.[0-9]+\.[0-9]+.*?)$/\1/')
+    
+    echo $version
+}
+
+new_version()
+{
+    OLD_VERSION=$1
+    
+    # Extract core version (major.minor.patch) and any suffixes
+    core_version=$(echo "$OLD_VERSION" | sed -E 's/^([0-9]+\.[0-9]+\.[0-9]+).*$/\1/')
+    suffix=$(echo "$OLD_VERSION" | sed -E 's/^[0-9]+\.[0-9]+\.[0-9]+(.*)$/\1/')
+    
+    if [ "$SAME" != "1" ]; then
+        if [ "$MAJOR" == "1" ]; then
+            NEW_VERSION="$( echo "$core_version" | awk -F '.' '{print $1 + 1}' ).0.0"
+        elif [ "$MINOR" == "1" ]; then
+            NEW_VERSION="$( echo "$core_version" | awk -F '.' '{print $1}' ).$( echo "$core_version" | awk -F '.' '{print $2 + 1}' ).0"
+        elif [ "$PATCH" == "1" ]; then
+            NEW_VERSION="$( echo "$core_version" | awk -F '.' '{print $1}' ).$( echo "$core_version" | awk -F '.' '{print $2}' ).$( echo "$core_version" | awk -F '.' '{print $3 + 1}' )"
+        fi
+        # For version bumps, typically strip pre-release/build metadata unless you want to preserve it
+        # Uncomment the next line if you want to preserve suffixes on version bumps:
+        # NEW_VERSION="$NEW_VERSION$suffix"
+    else
+        NEW_VERSION=$OLD_VERSION
+    fi
+    echo "$NEW_VERSION"
+}
+
+update_file_version()
+{
+    FILE=$1
+    LINE_PATTERN=$2
+    NEW_LINE=$3
+
+    echo "Update $FILE [$LINE_PATTERN] => [$NEW_LINE]"
+    sed -i s/"$LINE_PATTERN"/"$NEW_LINE"/g $FILE
+    return $?
+}
+
+
+BASEDIR=$(dirname "$0")
+
+SAME=0
+MAJOR=0
+MINOR=0
+PATCH=1
+
+
+while getopts mnphs option
+do
+case "${option}" in
+m) MAJOR=1;;
+n) MINOR=1;;
+p) PATCH=1;;
+s) SAME=1;;
+h)
+    echo "Increments versions depending on the semver option chosen"
+    echo "Usage: version.sh [-u] [-c]"
+    echo "    -s updates all files to reflect the current base Cargo.toml version"
+    echo "    -m increments major version and sets minor and patch to 0"
+    echo "    -n increments minor version and sets patch to 0"
+    echo "    -p increments patch version"
+    exit 0
+    ;;
+*)
+    echo "Invalid option: -$OPTARG" >&2
+    echo "Usage: version.sh [-s] [-m] [-n] [-p] [-h]"
+    exit 1
+    ;;
+esac
+done
+
+OLD_VERSION=$(get_version)
+NEW_VERSION=$(new_version $OLD_VERSION)
+
+echo "Updating to version: $NEW_VERSION"
+TOML_VERSION_PATTERN="^version = .*"
+TOML_VERSION_LINE="version = \"$NEW_VERSION\""
+
+# 1) Update base Cargo.toml and workspace lockfile
+update_file_version "$BASEDIR/Cargo.toml" "$TOML_VERSION_PATTERN" "$TOML_VERSION_LINE"
+if [ "$?" -eq "1" ]; then exit 1; fi
+cargo update
+
+# 2) Update test images and lockfiles
+for file in $(find $BASEDIR/images -name Cargo.toml); do
+    update_file_version "$file" "$TOML_VERSION_PATTERN" "$TOML_VERSION_LINE"
+    if [ "$?" -eq "1" ]; then exit 1; fi
+    dir=$(dirname $file)
+    if [[ $dir != /* ]]; then
+        dir=$BASEDIR/$dir
+    fi
+    cargo update --manifest-path $dir/Cargo.toml
+done
+
+# 3) Update all requested markdown file versions to $NEW_VERSION
+for file in $(echo $OTHER_FILES | tr ',' ' '); do
+    update_file_version "$BASEDIR/$file" $OLD_VERSION $NEW_VERSION
+    if [ "$?" -eq "1" ]; then exit 1; fi
+done
+
+exit 0
\ No newline at end of file