CanAm Coal Corp. (TSX VENTURE:COE)(OTCQX:COECF) ("CanAm" or the "Company") is
pleased to report coal production and sales for the year ended December 31,
2012. Consolidated Q4 2012 coal sales were 154,000 tons, a 95% increase over Q4
in the prior year. For the year ended December 31, 2012, consolidated coal sales
were 455,000 tons, a 73% increase over the prior year. Q4 coal production was a
record 174,000 tons, including 24,100 tons of metallurgical coal.




                            Three Month Period                Year          
                                   Ended                      Ended         
                               Dec 31        Dec 31       Dec 31      Dec 31
                                 2012       2011(i)         2012        2011
                       ---------------------------- ------------------------
                                                                            
Metallurgical coal             21,168        14,925       68,182      56,950
Thermal coal                  132,590        63,848      387,205     206,446
                       ---------------------------- ------------------------
                                                                            
Total                         153,758        78,773      455,387     263,396
                       ---------------------------- ------------------------
                       ---------------------------- ------------------------
Note: CanAm holds 80% ownership in Birmingham Coal & Coke (BCC) following   
its acquisition of an additional 30% interest, effective July 1, 2012. As at
that date, CanAm began consolidating the financial results of BCC in        
accordance with generally accepted accounting principles and, accordingly   
the above information is presented on a consolidated basis and includes 100%
of BCC's sales and production volumes.                                      
                                                                            
(i) Restated to reflect a comparable October to December 2011 quarter. Last 
year's reported quarter only comprised two months (November & December      
2011).                                                                      



The significant increase in both sales and production is attributable to a
combination of a) an increase in the Company's ownership in BCC, which was
effective July 1, 2012, b) improved production performance at our existing mines
c) production from our new Old Union 2 mine, which commenced operations at its
first pit in late October, and d) improved strip ratios. Q4 production exceeded
sales by approximately 20,000 tons. This was mainly attributable to reduced
sales in the latter part of December as a number of our customers reduced hours
or closed operations during the Christmas period, which impacted December sales.
These customers accelerated their shipment schedules in January 2013 to make up
for the shortfall. Sales of metallurgical coal were up 42% from the prior year
and were 37% higher than in Q3 of 2012.


During Q4, the Company experienced strong production performance at its
Powhatan, Bear Creek and Old Union mines. Management and operational changes
instituted in the first half of the year were a key factor explaining this
improvement, particularly at Powhatan. As disclosed in our Q3 MD&A, the Company
took the decision in Q4 to temporarily suspend operations at the Gooden Creek
mine and to move forward the start dates of its second and third pits at the Old
Union 2 mine from mid-2013 to Q1 2013. The Company is pleased to report that
both pits entered production in late January. Mining at Old Union 1 is
substantially complete and production will cease by the end of February 2013.


As previously reported, the Company received final permitting from the Alabama
Surface Mining Commission for its Knight and Posey Mill 2 mines. The Knight
mine, which replaces the Bear Creek mine (expected to be mined out in the first
half of 2013) commenced production in late January 2013. Mine development is
underway at the Posey Mill 2 mine with first production planned before the end
of Q1 2013. Looking forward into 2013, the Company is expecting continued growth
in production and sales as it brings on full production from its newly permitted
mines.


Company President and CEO, Jos De Smedt commented: "CanAm achieved significant
production and sales growth in Q3 and Q4 and full 2012 was another record year
for the Company. Since 2010, which was the first year of production for CanAm,
we have seen our sales increase almost ten-fold, from 48,000 tons in 2010 to
256,000 tons in 2011 to a record 455,000 tons in 2012. With our new mines fully
permitted and initial mine development nearing completion, further significant
growth is expected in 2013. In addition, the Company's $11 million investment in
new equipment in 2012 positions CanAm to efficiently optimize production and
sales from these new mines. With these building blocks in place, we look forward
to strong growth in 2013."


The Company is expected to release its audited full year financial results in
April 2013.


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 operating coal
mines 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

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 Corporate Office:
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