CanAm Coal Corp. ("CanAm" or the "Company") (TSX VENTURE:COE)(OTCQX:COECF) is
pleased to announce that it intends to complete a non-brokered private placement
of 12,500,000 units at a price of C$0.08 per unit for gross proceeds of $1
million. Each unit will be comprised of one common share in the share capital of
CanAm and one common share purchase warrant. Each warrant will entitle the
holder thereof to purchase one common share in the share capital of CanAm at a
price of $0.12 for 12 months from the date of the issuance of the units. 


A finder's fee of up to six percent of the gross proceeds of the private
placement may be paid on all or any portion of this private placement.
Additionally, finder's warrants exercisable into common shares of CanAm may be
issued in the amount of up to eight percent of the number of units sold under
this private placement. The finder's warrants will be exercisable into common
shares at a price of $0.085 per common share for a period of one year from the
date of the issuance of the finder's warrants.


Proceeds of the private placement will be used to execute on CanAm's development
and acquisition strategy, to repay outstanding debt obligations and for general
operating purposes. 


The completion of the private placement is subject to regulatory approval
including approval of the TSX Venture Exchange. It is not anticipated that any
new insiders will be created, nor that any change of control will occur, as a
result of the private placement. 


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 

This news release may contain certain forward-looking information and statements
about management's view of future events, expectations, plans and prospects,
including the use of proceeds from the private placement and the completion of
the private placement. 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
Toll Free: 1.877.262.5888
jdesmedt@canamcoal.com