2012-11-14 13:05:57 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/14/12 -- Canada Coal Inc. (the "Company" or "Canada Coal"), (TSX VENTURE:CCK) is pleased to announce that it has retained Tetra Tech Wardrop Inc., to assist the Company in assessing options for arctic mining operations on its Nunavut Coal licenses. Tetra Tech will also evaluate Coal to Liquids (CTL) and Coal Water Slurry (CWS) technologies in order to assess the possible future use of the Company's high grade thermal coal deposits as an alternative energy source in Nunavut. These technologies have the potential to create a diesel-like product that can be easily transported and utilized in Nunavut.
About Tetra Tech Wardrop Inc.
Tetra Tech is a leading provider of consulting, engineering, program management, construction management, and technical services. The Company supports government and commercial clients by providing innovative solutions to complex problems focused on water, environment, energy, infrastructure, and natural resources. With more than 13,000 employees worldwide, Tetra Tech's capabilities span the entire project life cycle and is recognized for extensive artic design experience and executing mining projects from exploration through to development.
Braam Jonker, President and CEO of Canada Coal comments, "We are pleased to have such a high quality engineering firm work with us to evaluate potential mining strategies for our Arctic coal licences in Nunavut. Tetra Tech has the capability and experience to fully evaluate Coal to Liquids (CTL) and Coal Water Slurry (CWS) technologies for our high grade thermal coal deposits. These technologies could have the potential to address the current and developing energy challenges in Nunavut."
Mr. Jonker continues, "We believe that if successful Canada Coal could add significant economic value to the Territory of Nunavut by contributing towards an energy solution for the local communities and through the creation of employment. The NI 43-101 report for our 2012 work program should be completed shortly, and we have commenced the permitting for our 2013 exploration drilling program. We are committed to full and transparent communication and consultation with local communities, relevant regulatory authorities, and with all stakeholders with an interest in our programs."
In compliance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, Susan O'Donnell, B.Sc., P.Geol., of DMT Geosciences Ltd., is the Qualified Person responsible for the accuracy of this news release.
About Canada Coal
Canada Coal is a publically listed company focused on coal exploration and development in Nunavut. Through its two wholly-owned subsidiaries, Canada Sovereign Coal Corp. and 5200 Nunavut Ltd., Canada Coal holds 75 active licenses comprising approximately 2,442,627 acres located on Ellesmere Island and Axel Hieberg Island in Nunavut (the "Nunavut Coal Property"). Canada Coal commissioned a National Instrument 43-101 compliant technical report in respect of the Nunavut Coal Property, dated September 30, 2011 entitled "The Nunavut Coal Project-Ellesmere Island and Axel Heiberg Island, Nunavut, Canada" prepared by Keith McCandlish, P. Geol., P. Geo., and Susan O'Donnell, P. Geol., of DMT Geosciences Ltd. (formerly Associated Geosciences Ltd.)., Calgary, Alberta, Canada, a copy of which is available on SEDAR at www.sedar.com.
On behalf of the Board of Directors
Braam Jonker, President and Chief Executive Officer
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain "forward-looking information" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the price of mineral resources; and the results of current exploration and testing. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Canada Coal disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The TSX Venture Exchange has in no way passed upon the merits of the Transaction and 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.
Canada Coal Inc.
President and Chief Executive Officer