Colonial Coal International Corp. Announces Additional Huguenot Coal Project Licenses
March 31 2011 - 6:10PM
Marketwired
Colonial Coal International Corp. (TSX VENTURE: CAD) (the "Company"
or "Colonial") is pleased to announce that it has filed
applications for additional coal licenses adjoining the Company's
Huguenot coal project.
These coal license applications target potentially coal-bearing
strata at depth, and extend across areas that may be required for
future mine and transportation-related infrastructure. These coal
license applications total approximately 16,425 hectares(ha). Prior
to this the Company's Huguenot coal project consisted of 13 coal
licenses covering 6,467 ha plus two (earlier) coal license
applications covering approximately 1,125 ha, totalling
approximately 7,592 ha.
The Huguenot coal project is located approximately 70 km
south-southeast of the town of Tumbler Ridge and 115 km southwest
of the City of Grande Prairie, Alberta. Current access into the
project area is provided by a network of Provincial paved highways
and un-paved, all-weather roads built for forestry and oil and gas
exploration and development. Apart from these access routes, there
is no major infrastructure in the vicinity of the project area. The
project is located approximately 65 km southeast of a rail line
(operated by CN Rail) that terminates at the Quintette Coal Mine
load-out facility approximately 17 km south of Tumbler Ridge.
The Company has presently allocated approximately $3.35 million
to cover its Hugeunot coal project 2011 exploration budget, and a
further $550,000 has been allocated for baseline environmental
studies which are expected to be initiated in Spring 2011.
Forward-Looking Information
Information set forth in this news release may involve
forward-looking statements. Forward-looking statements are
statements that relate to future, not past, events. In this
context, forward-looking statements often address a company's
expected future business and financial performance, and often
contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other
similar expressions. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or
other future events, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the
following risks: risks associated with marketing and sale of
securities; the need for additional financing; reliance on key
personnel; the potential for conflicts of interest among certain
officers or directors with certain other projects; and the
volatility of common share price and volume. Forward-looking
statements are made based on management's beliefs, estimates and
opinions on the date that statements are made and the Company
undertakes no obligation to update forward-looking statements if
these beliefs, estimates and opinions or other circumstances should
change. Investors are cautioned against attributing undue certainty
to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY
OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE
TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS
REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
Neither 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.
Contacts: Colonial Coal International Corp. David Austin
President and Chief Executive Officer (604) 568-4962
daustin@ccoal.ca
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