Colonial Coal International Corp. (TSX VENTURE:CAD) (the "Company" or "Colonial"
- David Austin, President and CEO), is pleased to announce that the Company and
an industry participant have executed a memorandum of understanding ("MOU") with
the Lax Kw'alaams Band and Metlakatla First Nations (collectively, the "Coast
Tsimshian Nation") for the formation of a joint venture for the potential
acquisition of the Watson Island site (the "Watson Island Land") pursuant to an
exclusivity agreement (the "Exclusivity Agreement") between the Coast Tsimshian
Nation and the City of Prince Rupert whereby the Coast Tsimshian Nation have an
exclusive arrangement with the City of Prince Rupert to purchase the Watson
Island Land. 


As part of the MOU, and to support the ongoing feasibility investigation of the
development of the Watson Island Land, the Company and its MOU partner have
agreed to assume the obligation of the Coast Tsimshian Nation to compensate the
City of Price Rupert for actual land expense in accordance with the terms of the
Exclusivity Agreement.  It is anticipated that such payments will be made for
the term of the Watson Island Land feasibility investigation although, under the
MOU, the Company and its partner reserve the right, in their sole discretion, to
terminate the payments at any time. 


The MOU is non-binding except in certain limited respects but sets out the
general terms and parameters regarding the potential financing, development and
use of the Watson Island Land and certain terms and conditions that are proposed
to be included in a definitive agreement to be completed (the "Definitive
Agreement"). Execution of the Definitive Agreement is subject to a number of
conditions for the benefit of the Coast Tsimshian Nation, the Company and its
partner and common to agreements of this nature, including, among other things,
further due diligence and management approval. 


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.
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