CanAm Obtains Knight Mine Permit

CanAm Coal Corp. (TSX VENTURE:COE) (OTCQX:COECF) ("CanAm" or the "Company") is
pleased to report that the Company's subsidiary, Birmingham Coal & Coke ("BCC"),
was issued permit # 3970 by the Alabama Surface Mining Commission ("ASMC") for
the Knight Mine. This permit is a 5 year surface mining permit covering a total
of 178 acres. The Knight Mine is adjacent to the Bear Creek Mine and, with most
infrastructure already in place, the Company is targeting an early December 2012
production startup. Annual productive capacity at the Knight mine is forecasted
at 180,000 tons per annum. 


The coal at the Knight mine is considered to have the same
qualities/characteristics as the coal that is currently being mined from the
existing Bear Creek mine. On average, the proximate analysis has indicated 12%
ash, 0.7% sulfur and 11,500 BTU/lb. These average values are consistent with the
assays reported from drilling; mine face sampling and product deliveries. (See
NI 43-101 report dated July 2011 on www.sedar.com).


"We are excited about our new Knight Mine permit as it will allows us to further
expand our mining operations, increase our production of high quality thermal
coal and continue to meet our customer commitments", said Tom Lewis, Vice
President of BCC. "This is our second new permit in the last 3 months; the Old
Union II permit was obtained in August 2012, and we are expecting to receive our
Posey Mill II permit in the next couple of weeks." 


The Company is also announcing that it will release its full financial results
for the nine month period ending September 30, 2012 on November 29, 2012.


About CanAm Coal Corp.

CanAm is a coal producer and development company focused on growth through the
acquisition, exploration and development of coal resources and resource-related
technologies. CanAm's main activities and assets include its coal operations in
Alabama and the Buick Coal Project which holds significant coal resources, 188
million indicated and 103 million inferred resources, in Colorado, USA (see the
technical report entitled "Limon Lignite Project, Elbert County, Colorado, USA,"
dated October 26, 2007 and filed on SEDAR on November 2, 2007). Other coal and
related opportunities continue to be evaluated on an ongoing basis. 


Forward-Looking Information and Statements

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.


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, is
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Company's disclosure documents on the SEDAR website at
www.sedar.com. The Company does not undertake to update any forward-looking
information except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CanAm Coal Corp.
Jos De Smedt
President & COO
403.262.3797 or Toll Free: 1.877.262.5888
jdesmedt@canamcoal.com


Brisco Capital Partners
Scott Koyich
Partner
403.262.9888
scott@briscocapital.com

Benz Capital (TSXV:BCC)
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