CanAm Obtains Posey Mill II 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 # 3963 by the Alabama Surface Mining Commission ("ASMC") for
the Posey Mill II Mine ("PM2"). This permit is a 5 year surface mining permit
covering a total of 781 acres. The PM2 Mine is adjacent to the Bear Creek and
the Knight Mine and, with most infrastructure already in place, the Company is
targeting a February 2013 production startup. Annual productive capacity at the
Posey Mill II mine is forecasted at 100,000 to 150,000 tons per annum. 


The coal at the PM2 mine is considered to have similar qualities/characteristics
as the coal that is currently being mined from the existing Bear Creek and
Knight Mines. 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).


"The issuance of this permit is especially important as the majority of the coal
to be produced at Posey Mill II has been sold into a long term contract. We are
working diligently to build the necessary infrastructure and anticipate
production of coal in February 2013", said Tom Lewis, Vice President of BCC.
"This is our third new permit in the last 5 months; the Old Union II permit was
obtained in August 2012 and the Knight permit was obtained in November 2012, and
combined the three permits cover approximately 2,352 acres of land that is now
fully permitted for production." 


About CanAm Coal Corp.

CanAm is a coal producer and development company focused on growth through the
acquisition, exploration and development of coal resources. 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 & CEO
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)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024