Calgary, Alberta / ACCESSWIRE / November 17, 2014 / CanAm Coal Corp.
(COE.V) ("CanAm" or the "Company") is pleased to report that the Company's
subsidiary, Birmingham Coal & Coke ("BCC"), was issued permit # 3979 by the
Alabama Surface Mining Commission ("ASMC") for the Gooden Creek #2 Mine. This
permit is a 5 year surface mining permit covering a total of 401 acres. The
Gooden Creek #2 Mine is adjacent to the Gooden Creek Mine and, with most
infrastructures already in place, the Company is targeting an immediate
production startup. Annual productive capacity at the Gooden Creek #2 mine is
forecasted at 120,000 to 150,000 tons per annum.
The coal at the Gooden Creek #2 mine is considered to have the
same qualities/characteristics as the coal that was being mined from the Gooden
Creek mine. On average, the core sample analysis has indicated 4% ash, 1.3%
sulfur and 14,000 BTU/lb.
"We are excited about our new Gooden Creek #2 Mine permit as it
will allow us to further expand our mining operations and continue to meet our
customer commitments", said Jos De Smedt, CEO of CanAm. "The quality and
characteristics of this coal makes it a very versatile coal which will allow us
to service both our utility and industrial customers."
The Company is also announcing that it will release its full
financial results for the nine month period ending September 30, 2014 on
November 28, 2014.
For Further Information:
CanAm Corporate Office:
Jos De Smedt, Chief Executive Officer
Tel: 403.262.3797
Toll
Free: 1.877.262.5888
Email: jdesmedt@canamcoal.com
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.
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.
SOURCE: CanAm Coal Corp.