September 2015 Investor Presentation Colonial Coal International Corporation TSX-V: CAD Western Canada’s Leading Coking Coal Developer.

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PowerPoint PresentationSeptember 2015 Investor PresentationColonial Coal International CorporationTSX-V: CADWestern Canadas Leading Coking Coal DeveloperTSX-V: CADwww.ccoal.caLegal DisclaimersThis presentation may contain forward-looking statements, and forward looking information under applicable securities laws including managements expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks and uncertainties include, but are not limited to: the risks associated with the commodity industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Colonial Coal undertakes no duty to update any of the forward-looking information herein. The reader is cautioned not to place undue reliance on forward-looking statements.The scientific and technical information relating to the Huguenot property has been derived from the Huguenot Technical Report dated September 4, 2012, a copy of which will be filed on sedar.com under Colonial Coal International Corp., copies of the technical report will be made available to investors on request.The information contained in this document has not been reviewed or approved by the U.S. Securities and Exchange Commission or any provincial or state securities regulatory authority. Any representation to the contrary is unlawful. This document does not include a complete description of Colonial Coal or any offering. Any offer of securities Colonial Coal will be made only pursuant to a subscription agreement and the provisions of applicable law. Any securities to be offered for sale by Colonial Coal are not expected to be registered in the United States under the Securities Act or under any state securities laws.Cautionary Note to US Investors Concerning Resource Estimate: The resource estimates in this document were prepared in accordance with National Instrument 43-101, adopted by the Canadian Securities Administrators. The requirements of National Instrument 43-101 differ significantly from the requirements of the United States Securities and Exchange Commission (the SEC). In this document, we use the terms measured, indicated, and inferred resources. Although these terms are required and recognized in Canada, the SEC does not recognize them. The SEC permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that constitute reserves. Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally extracted at the time the determination is made. United States investors should not assume that all or any portion of a measured or indicated resource will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and whether they can be mined economically or legally, and United States investors should not assume that inferred resources exist or can be legally or economically mined, or that they will ever be upgraded to a higher category. 1TSX-V: CADwww.ccoal.ca1Company Snapshot2Strategic LocationHigh Quality Coking CoalExperienced Management TeamDavid AustinChief Executive Officer and ChairmanJohn PerryChief Operating Officer and DirectorWilliam Filtness, CAChief Financial OfficerSource: Company disclosure, FactSetHuguenot:Measured and Indicated(Mt)277.7Inferred(Mt)119.2Flatbed:Est. Flatbed Resources(Mt)~100Huguenot North Block Simulated Clean Coal QualityAsh(%)8.1Volatile Matter(%)23.4Sulphur(%)0.4Phosphorus(%)0.047Fixed Carbon(%)68.5Dmmf VM(%)24.9FSI6.5Significant Upside PotentialHuguenot and Flatbed great exploration upsideWatson Island MOU port investment opportunitiesLocated in a prolific coal belt significant M&A activitiesProximity to Asian market secured export marketBRITISHCOLUMBIAALBERTAVancouverPrince RupertFort NelsonNeptune TerminalsWestshore TerminalsKeyHuguenotFlatbedProjectCoal FieldsCity CN RailRoadsHuguenotDawsonCreekTumblerRidgeChetwyndFlatbedTSX-V: CADwww.ccoal.ca78Peace River CoalfieldHudsons HopeRidleyTerminalsFort St JohnChetwyndALBERTABC13210151417416113912Tumbler Ridge5634Carbon Creek (Cardero)Resources: 334 MtTarget Production: 2.9 MtpaProduction Start: 201413Trefi (Anglo Pacific)Resources: 90 Mt7Gething (CKDI)Est. Resources: 786 MtTarget Production: 2.0 Mtpa Wapiti River (Canadian Dehua) Est. Resource: 7,000 Mt Est. Prodn: 6.0 Mtpa 15Willow Creek (Walter)Reserves: 30 MtResources: 51 MtTarget Production: 1.7 MtpaProduction Restart: 2010163Brule (Walter)Reserves: 20 MtResources: 34 MtTarget Production: 2.0 MtpaWolverine (Walter)Reserves: 49 MtResources: 70 MtTarget Production: 3.0 MtpaProduction Start: 20071710Quintette (Teck)Target Production: 3.0 MtpaProduction Start: 20131Atrum Coal PRC ProjectExploration Target: 25 MtMurray River (HD Intl. Mining)Resources: 3,180 Mt (inferred)Est. Prodn: 6 Mtpa (Phase 1)9Trend (Anglo Coal)Reserves: 23 MtResources: 45 MtTarget Production: 2 MtpaProduction Start: 2005142Belcourt Saxon JV(Walter (50%) / Anglo (50%))Reserves: 86 MtResources: 171 MtTarget Production: 4 Mtpa12Suska (8) & Sukunka (9)(Xstrata / JX Nippon)Reserves: 61 Mt (Sukunka only)Resources: 319 & 236 MtTarget Production: 9.5 Mtpa Production Start: 2015118Mt. Duke (Teck)Resources: 281 MtNote: Peace River Basin map is for illustrative purpose onlySource: BC Ministry of Energy, Company filings, Industry Publications and News Sources, Mines and Petroleum Resources 25 km1Flatbed / Huguenot (Colonial Coal)Huguenot Resources: 384 Mt Target Flatbed Resources: 100 Mt56Anglo CoalAnglo PacificAtrum CoalBelcourt Saxon JVCanadian DehuaCarderoCenterpoint ResourcesColonial CoalHD Mining InternationalJameson ResourcesKailuan Dehua (CKDI)TeckWalter EnergyXstrataOther Coal Tenures & AppsRailroad3TSX-V: CADwww.ccoal.caUnparalleled Investment OpportunityInvest in one of the largest deposits of premium quality hard coking coal in western CanadaTargeted open pit mineable resource of 397 Mt at Huguenot Project (Huguenot)Potential for large tonnage deposit at Flatbed Project (Flatbed) in proximity to Trend and Quintette mines Extensive historical work completed by DenisonThe only publicly traded pure-play coking coal company in western Canada to have a stake in a port development projectRecent MoU regarding potential development of port facility at Watson IslandGain exposure to one of the most active coal basins in a mining friendly jurisdiction with excellent infrastructure in placeRecent acquisitions by Walter Energy (Walter), Anglo American (Anglo), Xstrata, and Winsway/Marubeni amongst othersCapacity expansion underway at western Canadian ports and new coal terminals being built in north-west United StatesStrategically located leases adjacent to major projects provide logical buyers and partnership opportunitiesHuguenot located between Anglos and Walters Belcourt Saxon JVFlatbed located adjacent to Anglos producing Trend mine and Tecks soon to be started Quintette mineHighly experienced management team with a proven track record in the Peace River CoalfieldDirectly responsible for developing two producing mines in the regionProvides exposure to long-term Asian growth story whilst staying invested in a safe jurisdiction Increasing demand for high quality coking coal driven by long term Asian growthWestern Canadian coal projects have cost advantaged access to East Asian markets4TSX-V: CADwww.ccoal.caMetallurgical Coal Quality BenchmarkSelect Benchmarks% / ddpmMillions Tonnes Met CoalGlobal RangeCanadian RangeHCC BenchmarkColonial Coal(Wapiti River)(Murray River)(Gething)(Huguenot)(Carbon Creek)(Suska)(Mt. Duke)(Sukunka)(Belcourt Saxon JV)(Trefi)(Wolverine)(Willow Creek)(Trend)(Brule)Source: WoodMacMetallurgical Coal Resource Size BenchmarkSelect Peace River Coalfield Based PeersVery low sulfur and phosphorous content compared to global producersSource: CCIC, company reportsSurfaceUndergroundTotalMeasured96.218.9115.1Indicated35.8126.9162.6Inferred0.5118.7119.2Total132.5264.4396.9Huguenot Resource Estimate (mm tonnes)One of the Largest Premium Hard Coking Coal Deposits in the RegionHuguenot has a contained resource of 397 million tonnes, making it one of the largest deposits in the regionDeposit at the resource stage with significant room for expansionHuguenot's metallurgical coal quality ranks as a premium coal productContains low sulfur and deleterious elementsSimilar composition to Anglo's nearby Trend mine (premium product exported to Asia)Price forecast for Huguenot of $200/tonne (Analyst consensus)Benchmark based on Anglos Trend mine, reflecting HCC benchmark adjusted for Trends quality levels Huguenot's CSR levels are higher than anything else in the region, including TrendPotential for Huguenot to receive a premium to the benchmark price5TSX-V: CADwww.ccoal.caPotential to Jointly Develop Shared InfrastructureTumbler RidgeRidleyTerminalQuintette Load-OutFacility(Quintette)(Wolverine)(Huguenot)(Belcourt Saxon)(Flatbed)Proposed rail spur(85 km from Quintette load-out facility)(Wapiti River)(Trend)Strategic Location With Significant Partnership OpportunitiesSharing in the development of joint infrastructure (roads / rail) with operators in the region would lower initial capital costs at HuguenotPEA contemplates a standalone railway used solely by CCIC (overly conservative assumption)85 km rail spur to connect the project to the nearest load-out facility at Quintette (owned by Teck)In reality, the railway would be constructed on a shared basis with other coal producers in the region that would use Quintette loadoutHuguenot is adjacent to the Belcourt Saxon JV (Anglo American / Walter Energy)Other nearby properties are owned by Teck Resources and Canadian Dehua (joint venture including major Chinese state-owned steel producers)Shared rail would reduce costs and provide practical benefitsShared rail line would pass through the various properties, resulting in shorter length (65 km) Development / operating costs would be distributed across all operators in the region for greater scale and lower per tonne costWhile rail is the preferred mode of transportation in the region, trucking coal is viable but more expensive on a per tonne basis (Walter currently transports 2 million tonnes of coal annually from its Perry Creek mine to Quintette )6TSX-V: CADwww.ccoal.caMine Life (years)31 Capital Cost ($m)$606Production (mtpa)3.0Coal Price ($/t)$192.50Direct Mine Costs ($/t)$77.84Off-Site Costs ($/t)$44.67Cash Cost ($/t) [FOB]$122.51Power & Building Costs$285Road & Rail Load-Out Costs$25Surface Capital Requirements$310Shafts & Hoists$128Longwall System$93Other Underground Costs$75Underground Capital Requirements$296Total Capital Costs (Surface & Underground)$606Discount Rate & IRR5%7.5%10%IRR$165.00$680$407$23016%$192.50$1,579$1,100$78032%$225.00$2,634$1,910$1,42049%Huguenot Project NPV and IRR(1)Coal Price(2)Operating Cost Details ($/tonne, FOB Port)(1)Mining Costs$42.87 Labour Costs$21.49Plant Costs$10.00Leases & Other$3.48 Direct Mine Costs$77.84 Rail & Load-Out Costs$32.67Port Costs$12.00Indirect Mine Costs$44.67Total Cash Operating Cost$122.51Clean Coal Production, 9% Ash (kt) [First 10 Years](1)Summary PEA Statistics(1)Capital Expenditure Details ($ m)(1)Attractive Project EconomicsColonial released a Preliminary Economic Assessment ("PEA") for Huguenot in September 2013The PEA outlined Huguenot as a standalone project (conservative approach), without shared infrastructurePEA contemplates an 85 km rail spur connecting Huguenot to existing rail at Tumbler RidgeA shared rail spur would be shorter in length while the cost to develop and operate would be shared across regional minersAs per September 1, 2013; prepared by Norwest Corporation, Total Capital Costs excludes 15% contingencyFOB port basis7TSX-V: CADwww.ccoal.ca7BituminousSub-bituminousLigniteCoal RankInfrastructureCanadaABPeace RiverCoalfieldHuguenotDawsonCreekTumblerRidgeChetwyndFlatbed65 km from rail load-out facilityFlatbedHuguenotAvailable Rail and Port Capacity to Access Export MarketsProduction from Huguenot would be shipped via rail to export terminals on the west coast of British ColumbiaRail lines out of the Peace River Coalfields are operated by a Class I Canadian carrier (CN Rail, largest railway company in Canada) and have available capacity to support future production from HuguenotCoal is transported vial rail approximately 1,000 km to the Ridley Terminal in Prince RupertThe Ridley Terminal is a deep water port with 2014 targeted capacity of 24 mtpa (expansion to be completed 2014, current capacity is 12 mtpa)One of the deepest, ice free natural harbours in the world100% owned by the Government of CanadaCapable of supporting capesize vessels (250,000 DWT)An ~14 mtpa of capacity will be available in 2014 (post expansion)Potential to expand up to 40 mtpa (option is currently under review)Port Facility / Coal TerminalCN RailwayCP Railway8TSX-V: CADwww.ccoal.caExperienced Management and Board9David AustinChairman, President & CEOFounder of Western Coal, NEMI and now CCICWilliam FiltnessCFOOver 20 years experience as a director or officer for mining companiesCFO of High Desert Gold, South American Silver, and i-minerals and former CFO of NEMIJohn PerryCOO & DirectorOver 35 years experience as a geologist (over 30 years as a consultant): worked on many coal projects in northeastern BCWayne WaltersDirectorGeological consultant and former director of Running Fox Resources and NEMITony HammondDirectorChairman and MD of Great Orme Mines and a former director for NEMIIan DownieDirectorProfessional negotiator with an established mediation and dispute resolution consulting companyManagement Team and Board of DirectorsTSX-V: CADwww.ccoal.caWestern Canada has vast coal resources including some of the worlds highest quality coking coals~23 Mt of met coal exports in 2011~27 Mt of met coal exports expected by 2015The region enjoys access to low-cost power, high-quality road and rail networks and major deep water seaports British Columbian ports provide the closest port of entry on the west coast of North America to AsiaWestern Canada has seen significant M&A activitiesWalter Energy acquires Western Coal - $3.3bnAnglo American acquires 25% of Peace River Coal held by NEMI and Hillsborough - $166mm Xstrata acquires First Coal and Lossan - $193mmWinsway and Marubeni jointly acquire Grande Cache Coal -$1bnXstrata acquires Sukunka asset from Talisman Energy - $500mmJX Nippon acquires 25% in Xstrata Coal BC JV - $435mmCanadian Met Coal Supply by ProjectSource: AME, BC Ministry of Energy, Mines and Petroleum ResourcesNote: Shipping Days calculated at vessel speed of 15 knotsWestern Canadian Coal Poised for Growth10Access to East Asian MarketsWestern Canadian Coal OverviewChina13.814.4Dalian15.016.3Guangzhou14.816.0Hong Kong13.214.2Shanghai14.214.8TianjinJapanBritishColumbia VancouverPrince RupertIndia25.226.4Mumbai11.312.6Kobe10.611.9Tokyo22.824.0Chennai23.124.3Kolkata12.713.0PusanKoreaTo Shanghai 4,642 milesTo Tokyo 3,830 miles To Shanghai 5,092 milesTo Tokyo 4,280 miles Closer to Japan than Newcastle:Newcastle to Tokyo 4,284 miles00.000.0Shipping Days from Prince RupertShipping Days from VancouverNote: Met coal includes all coals directed to metallurgical end markets (i.e. coking coals and PCI coals)TSX-V: CADwww.ccoal.ca10Port Facility / Coal TerminalCN RailwayCP RailwayBituminousSub-bituminousLigniteWestern Canadian Coal CompaniesCoal RankInfrastructureWorld Class Infrastructure3 rail load-out facilities in the Peace River CoalfieldCN Rail provides access to Ridley TerminalsDeep-water coal loading facilities at Ridley TerminalsCurrent capacity 12 MtpaTerminal Modification Project underway to increase capacity to 24 Mtpa$200mm project started in August 2011Development in four phases P1 completeP4 completion by early 2015Further expansion to 30 Mtpa upon government approvalNo port or rail capacity constraints11Extensive Regional InfrastructureUnencumbered Access to Export MarketsWestshore TerminalsRidley TerminalsPRINCE RUPERTFORT NELSONNeptune TerminalsBRITISH COLUMBIAALBERTASASKATCHEWANSASKATOONREGINAEDMONTONFORT MCMURRAYHAY RIVERVANCOUVERCALGARYPRINCE GEORGETSX-V: CADwww.ccoal.caExpanding BC Port CapacityPort capacity available at Prince Rupert (Ridley), Vancouver (Westshore and Neptune) or other alternativesApproximately 15 Mtpa will be available for new producers, assuming current expansion plans of BC Ports (including a doubling of Ridley capacity)Ridley (and adjacent wharfs) have further expansion potentialNew coal export facilities being developed in NW United States which will further increase available capacity122008-15E Port Capacity (Mt)2008-15E Production (Mt) (1)Source: Company filings, select street research1. Production forecasts included for companies already in production and for those with publicly available mine plans and announced timelinesAvailable Port CapacityTSX-V: CADwww.ccoal.caWatson Island Investment Upside13Colonial Coal and an industry partner have entered into an MoU with Lax Kwalaams Band and Metlakatla First Nations (Coast Tsimshian Nation) for the formation of a JV for the potential acquisition of the Watson Island site (Watson Island Land)The Coast Tsimshian Nation have an exclusive arrangement (Exclusivity Agreement) with the City of Prince Rupert to purchase the Watson Island LandColonial Coal and its industry partner will compensate the City of Prince Rupert for actual land expenses in accordance with the terms of the Exclusivity AgreementThe JV will undertake a feasibility investigation in relation to the development of the Watson Island LandWatson Island Land offers a potential and exciting solution to expand coal export capacity in British Columbia in light of increasing regional coal productionThe MoU is non-binding and sets out 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 Potential site for establishment of a bulk terminal on Watson Island3 Ridley terminals is reaching its current throughput capacity of 12 Mtpa1TsimpsianPeninsulaPrince RupertAirportDigbyIslandTuck InletPort EdwardSmith IslandKinahanIslandsRidleyIslandPrince Rupert GrainRidley Terminals (Coal)CN RailPrince RupertKaienIslandFairview TerminalProposed ExpansionTo Prince George724 kmTo Edmonton1,461 kmTo Vancouver1,502 km312 Planned site for expansion of Ridley Terminals to 24 Mtpa2Watson IslandTSX-V: CADwww.ccoal.caAttractive Market OutlookSource: AME1. CAGR based on 2011 and 2020E met coal demandTop 5 Countries by Met Coal Demand (Mt)Exposure to High Growth Asian MarketsFavourable global demand dynamicsHigh growth in demand driven by developing countries such as China and IndiaAdverse supply conditionsEmerging coal basins facing severe infrastructure challenges Established coal producing regions suffering from transportation capacity constraints Natural disasters and chronic weather related disruptions frequently exacerbate the situationRobust pricing environmentIndustry consolidation will provide coal producers with increased pricing powerIncreasing demand, limited supply and constrained infrastructure will support higher prices in the future14Top 5 Countries by Met Coal Supply (Mt)2020EPresent2005Top 5 Countries Met Coal Demand CAGR(1) (%)TSX-V: CADwww.ccoal.caHuguenot Coking Coal Project 100% Interest15Project Location1. Ratio calculated in-situ volume of waste (BCM) divided by the mass of coal (tonnes)Source: Company disclosureProject SummaryBelcourt NorthPit AreaProposedBelcourtPlant SiteBelcourt SouthPit AreaNorth BlockResource AreaSouth BlockResource AreaMiddle Block Resource AreaCoal Licenses: 6,467 ha.License Applications: 17,550 ha. NColonial Coal Huguenot ProjectLocated adjacent to the proposed Belcourt South open pit (owned by Belcourt Saxon Coal Ltd. Anglo/Walter JV)Similar coal characteristics27 holes and 55 trenches completed in 2008Focused on the North BlockHistorical work by Denison - 8 drill holes, 138 trenchesNorth BlockNI 43-101 report completed in July 2010 Overall theoretical strip ratio of 12.9:1(1) (using an incremental strip ratio of 20:1(1)) Middle and South BlocksDrilling in 2011: 33 holes for 6,739 m; additional drilling in 2012Amenable to open pit mining1.5% royalty FOB portLocated ~140 road-km from Quintette load-out65 km rail as per Belcourt Saxon feasibility studyHuguenot Coal LicencesHuguenot Coal License ApplicationsBelcourt Saxon Coal Ltd.Resource AreaTSX-V: CADwww.ccoal.caHuguenot Exploration UpsideTheoretical pit (using an incremental strip ratio limit of 20:1) yields 45.9(1) million tonnes at 12.9:14 coal seams out of 9 represent 78% of the resourcesArea operators are now considering using an incremental strip ratio of 25:1 to define resources (and overall strip ratios to 15:1) given current market prices161. Using a 1.0 m thickness cut-offHuguenot North Block Resource Cross SectionTSX-V: CADwww.ccoal.caHuguenot Premium Coking Coal CharacteristicsPremium product clean coal product with low ash, low sulfur, low phosphorus, and High FSI Theoretical yield of 72.9%(1)17SeamAsh%VM%FC%S%FSI% P (in coal)DmmfVM %Theoretical Yield %% Core Rec.8A(2)7.8526.2365.920.446.50.03627.8566.9294.66BCD(2)6.8526.0567.110.576.50.04527.3966.6294.06La9.1122.9267.970.396.00.07024.5062.9491.158.0423.7468.220.366.00.03625.1985.4797.33B8.0123.9867.060.498.00.02625.6862.3084.317.7023.7668.540.406.50.03525.1392.8590.31. Assumes equal contributions from each seam, does not include coal losses or external dilution on mining2. Includes internal rock bands omitted from resource estimates but expected to be included as part of run-of-mine materialNorth Block Clean Coal Quality SummaryTSX-V: CADwww.ccoal.ca Flatbed Coking Coal Project 100% InterestProperty adjacent to Trend and Quintette minesLicenses pending Potential for large tonnage deposit100 Mt coking coal resource target Property located 15 Km from Quintette loadoutPotential for a 3rd pipeline crossing of Rocky Mountains to bring in further infrastructure18Project LocationColonial CoalBelcourt Saxon JVAngloCanadian DehuaWalter EnergyXstrataTeck CoalRailwayCoal Mine Pits / DepositsProject SummaryPerry Creek MineMesa PitHermann DepositShikano PitWindy PitWindow DepositTrend MineExtension DepositRoman DepositHoneymoon DepositDuke DepositPRC LoadoutQuintette LoadoutLicense Applications:11,500 ha.Colonial Coal Flatbed ProjectTSX-V: CADwww.ccoal.caDevelopment Timeline19Key Milestones AchievedInitial 43-101 Resource Estimate Huguenot (North Block)Q3 2010Commenced Environmental Baseline Studies HuguenotQ2 2011Applied For Additional Coal Licenses (16,425 ha) HuguenotQ2 2011Commenced Drilling Program Huguenot (Middle & South Blocks)Q3 2011Secured MoU With First Nations In Relation To Watson IslandQ4 2011Released Updated NI 43-101 Compliant Resource Estimate HuguenotQ2 2012Initiated Preliminary Economic Assessment HuguenotQ4 2012Complete Preliminary Economic Assessment HuguenotQ3 2013TSX-V: CADwww.ccoal.caFinancial Snapshot20Source: Company disclosure, FactSetPrice - Volume ChartCapital StructureTSX-V: CADwww.ccoal.caUnparalleled Investment OpportunityInvest in one of the largest deposits of premium quality hard coking coal in western CanadaTargeted open pit mineable resource of 397 Mt at Huguenot Project (Huguenot)Potential for large tonnage deposit at Flatbed Project (Flatbed) in proximity to Trend and Quintette mines Extensive historical work completed by DenisonThe only publicly traded pure-play coking coal company in western Canada to have a stake in a port development projectRecent MoU regarding potential development of port facility at Watson IslandGain exposure to one of the most active coal basins in a mining friendly jurisdiction with excellent infrastructure in placeRecent acquisitions by Walter Energy (Walter), Anglo American (Anglo), Xstrata, and Winsway/Marubeni amongst othersCapacity expansion underway at western Canadian ports and new coal terminals being built in north-west United StatesStrategically located leases adjacent to major projects provide logical buyers and partnership opportunitiesHuguenot located between Anglos and Walters Belcourt Saxon JVFlatbed located adjacent to Anglos producing Trend mine and Tecks soon to be started Quintette mineHighly experienced management team with a proven track record in the Peace River CoalfieldDirectly responsible for developing two producing mines in the regionProvides exposure to long-term Asian growth story whilst staying invested in a safe jurisdiction Increasing demand for high quality coking coal driven by long term Asian growthWestern Canadian coal projects have cost advantaged access to East Asian markets21TSX-V: CADwww.ccoal.caRights of Action for PurchasersOntario, Nova Scotia, New Brunswick, Newfoundland and Labrador, Price Edward Island, Manitoba and Saskatchewan:Securities legislation in Ontario, Nova Scotia, New Brunswick, Newfoundland and Labrador, Prince Edward Island, Manitoba and Saskatchewan provides investors in securities of the Company with certain rights of action where an offering memorandum and any amendment to it contains a misrepresentation. These remedies, or notice with respect thereto, must be exercised or delivered, as the case may be, by the investor within the time limits prescribed by the applicable securities legislation.The following are summaries of these rights. Such summaries are subject to the express provisions of applicable securities legislation, and the rules, regulations and other instruments thereunder, and reference is made to the complete text of such provisions contained therein. Such provisions may contain certain limitations and statutory defences on which the Company and others may rely. These rights are in addition to, and without derogation from, any other right the investor may have at law. Investors should refer to the applicable provisions of the securities legislation of their province for the particulars of these rights or consult with a legal adviser.For purposes of the following summaries, Misrepresentation means an untrue statement of a material fact or an omission to state a material fact that is necessary in order to make a statement not misleading in light of the circumstances in which it was made.22TSX-V: CADwww.ccoal.caRights of Action for Purchasers, continuedOntario. If this presentation, together with any amendment to this presentation, contains a Misrepresentation, an investor in the Province of Ontario will have, without regard to whether the Misrepresentation was relied upon by the investor, a statutory right of action against the Company for damages or, at the election of the investor, against the Company, for rescission (in which case the investor will cease to have a right of action for damages), provided that:1.no action may be commenced to enforce a right of actionfor rescission, more than 180 days after the date of the transaction that gave rise to the cause of action; orfor damages, more than the earlier of (i) 180 days after the investor first had knowledge of the facts giving rise to the cause of action, and (ii) three years after the date of the transaction that gave rise to the cause of action;2.the Company will not be liable if it proves that the investor purchased the securities of the Company with knowledge of the Misrepresentation;in an action for damages, the Company will not be liable for all or any portion of the damages that it proves do not represent the depreciation in value of the securities of the Company as a result of the Misrepresentation relied upon; andin no case shall the amount recoverable exceed the price at which the securities of the Company were offered to the investor.The foregoing rights do not apply if the investor purchasing in reliance upon the "accredited investor" prospectus exemption in Section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions ("NI 45-106") is:a Canadian financial institution (as defined in NI 45-106) or a Schedule III bank, meaning an authorized foreign bank named in Schedule III of the Bank Act (Canada);the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada); or a subsidiary of any person referred to in paragraphs (a) and (b), if the person owns all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary.23TSX-V: CADwww.ccoal.caRights of Action for Purchasers, continuedNova Scotia. If this presentation, together with any amendment to this presentation or any advertising or sales literature (as defined in the Securities Act (Nova Scotia) (the Nova Scotia Act)), contains a Misrepresentation and it was a Misrepresentation at the time of purchase, the investor resident in Nova Scotia will be deemed to have relied upon the Misrepresentation and will have a right of action against the Company and, subject to certain additional defences, every director of the Company at the date of this presentation for damages or, alternatively, while still the owner of the purchased securities, for rescission against the Company (in which case the investor shall have no right of action for damages against the Company or its directors), provided that:1.no action may be commenced to enforce a right of action more than 120 days:after the date on which payment was made for the securities of the Company; orafter the date on which the initial payment was made where payments subsequent to the initial payment are made pursuant to a contractual commitment assumed prior to, or concurrently with, the initial payment;2.no person or company is liable if the person or company proves that the investor purchased the securities of the Company with knowledge of the Misrepresentation;3.no person or company (other than the Company) is liable if the person or company proves that (i) the presentation was sent or delivered to the investor without the persons or companys knowledge or consent and that, on becoming aware of its delivery, the person or company gave reasonable general notice that it was delivered without the persons or companys knowledge or consent, (ii) after delivery of the presentation and before the purchase of the securities of the Company by the investor, on becoming aware of any Misrepresentation in the presentation, the person or company withdrew the persons or companys consent to the presentation and gave reasonable general notice of the withdrawal and the reason for it, or (iii) with respect to any part of the presentation purporting to be made on the authority of an expert or to be a copy of, or an extract from, a report, an opinion or a statement of an expert, the person or company had no reasonable grounds to believe and did not believe that (A) there had been a Misrepresentation, or (B) the relevant part of the presentation did not fairly represent the report, opinion or statement of the expert, or was not a fair copy of, or an extract from, the report, opinion or statement of the expert;no person or company (other than the Company) is liable with respect to any part of the presentation not purporting to be made on the authority of an expert, or to be a copy, or an extract from, a report, opinion or statement of an expert unless the person or company (i) failed to conduct a reasonable investigation to provide reasonable grounds for a belief that there had been no Misrepresentation, or (ii) believed that there had been a Misrepresentation;in an action for damages, no person or company is liable for all or any portion of the damages that it proves do not represent the depreciation in value of the securities of the Company as a result of the Misrepresentation;in no case will the amount recoverable in any action exceed the price at which the securities of the Company were offered to the investor; andif a Misrepresentation is contained in a record incorporated by reference into, or deemed incorporated by reference into, this presentation, the Misrepresentation is deemed to be contained in this presentation.24TSX-V: CADwww.ccoal.caRights of Action for Purchasers, continuedNew Brunswick. If this presentation, together with any amendment to this presentation, delivered to an investor resident in New Brunswick contains a Misrepresentation that was a Misrepresentation at the time of purchase, the investor will be deemed to have relied on the Misrepresentation and will have a right of action against the Company for damages or, alternatively, while still the owner of the purchased securities, for rescission, provided that:1.no action may be commenced to enforce a right of action:for rescission more than 180 days after the date of the transaction that gave rise to the cause of action; orfor damages more than the earlier of (i) one year after the investor first had knowledge of the facts giving rise to the cause of action, and (ii) six years after the date of the transaction that gave rise to the cause of action;2.the Company is not liable if it proves that the investor purchased the securities of the Company with knowledge of the Misrepresentation;in an action for damages, the Company will not be liable for all or any portion of the damages that it proves do not represent the depreciation in value of the securities of the Company as a result of the Misrepresentation relied upon; and in no case shall the amount recoverable exceed the price at which the securities of the Company were offered to the investor.25TSX-V: CADwww.ccoal.ca``Rights of Action for Purchasers, continuedNewfoundland and Labrador. If this presentation, together with any amendment to this presentation or any record incorporated by reference in, or considered to be incorporated into this presentation contains a Misrepresentation and it was a Misrepresentation at the time of purchase, an investor in the Province of Newfoundland and Labrador has, in addition to any other right that the investor may have under law and without regard to whether the investor relied on the Misrepresentation, a right of action for damages against the Company and, subject to certain additional defences, every director of the Company at the date of this presentation for damages or, alternatively, while still the owner of the purchased securities, for rescission against the Company (in which case the investor will cease to have a right of action for damages against any other person), provided that:1.no action shall be commenced to enforce the foregoing rights:in the case of an action for rescission, more than 180 days after the date of the transaction that gave rise to the cause of action; orin the case of any action, other than an action for rescission, the earlier of: (i) 180 days after the investor first had knowledge of the facts giving rise to the cause of the action; or (ii) three years after the date of the transaction that gave rise to the cause of the action;2.no person or company is liable if the person or company proves that the investor purchased the securities of the Company with knowledge of the Misrepresentation;3.no person or company (other than the Company) will be liable if it proves that:this presentation was sent to the investor without the persons or companys knowledge or consent and that, on becoming aware of its being sent, the person or company promptly gave reasonable notice to the Company that it was sent without the knowledge and consent of the person or company;the person or company, on becoming aware of any Misrepresentation in this presentation, withdrew the persons or companys consent to this presentation and gave reasonable notice of the withdrawal to the Company and the reason for it;with respect to any part of this presentation purporting to be made on the authority of an expert or to be a copy of, or an extract from, a report, statement or opinion of an expert, the person or company had no reasonable grounds to believe and did not believe that: (i) there had been a Misrepresentation; or (ii) the relevant part of this presentation did not fairly represent the report, statement or opinion of the expert, or was not a fair copy of, or an extract from, the report, statement or opinion of the expert; orwith respect to any part of this presentation not purporting to be made on the authority of an expert and not purporting to be a copy of, or an extract from, a report, statement or opinion of an expert, unless the person or company (i) failed to conduct a reasonable investigation to provide reasonable grounds for a belief that there had been no Misrepresentation; or (ii) believed that there had been a Misrepresentation;4.in an action for damages, the defendant is not liable for any damages that it proves do not represent the depreciation in value of the securities of the Company as a result of the Misrepresentation; and5.in no case shall the amount recoverable exceed the price at which the securities of the Company were offered to the investor under this presentation.26TSX-V: CADwww.ccoal.caRights of Action for Purchasers, continuedPrince Edward Island. A Misrepresentation for purposes of the Securities Act (Prince Edward Island) also includes an omission to state a material fact that is required to be stated by the Securities Act (Prince Edward Island). If this presentation, together with any amendment to this presentation, delivered to an investor resident in Prince Edward Island contains a Misrepresentation and it was a Misrepresentation at the time of purchase, the investor will, without regard to whether the investor relied on the Misrepresentation, have a right of action against the Company and, subject to certain additional defences, every director of the Company at the date of this presentation for damages or, alternatively, while still the owner of the purchased securities, for rescission against the Company (in which case the investor shall have no right of action for damages against the persons described above), provided that:1.no action shall be commenced to enforce the foregoing rights:in the case of an action for rescission, more than 180 days after the date of the transaction that gave rise to the cause of action; orin the case of any action, other than an action for rescission, more than the earlier of (i) 180 days after the date the investor first had knowledge of the facts giving rise to the cause of the action, or (ii) three years after the date of the transaction that gave rise to the cause of the action;no person or company is liable if the person or company proves that the investor purchased the securities of the Company with knowledge of the Misrepresentation;no person or company (other than the Company) is liable if it proves that (i) the presentation was sent to the investor without the persons or companys knowledge or consent and that, on becoming aware of its being sent, the person or company had promptly given reasonable notice to the Company that it was sent without the persons or companys knowledge and consent (ii) on becoming aware of any Misrepresentation in the presentation, the person or company withdrew the persons or companys consent to the presentation and gave reasonable notice to the Company of the withdrawal and the reason for it, or (iii) with respect to any part of the presentation purporting to be made on the authority of an expert or purporting to be a copy of, or an extract from, a report, an opinion or a statement of an expert, the person or company had no reasonable grounds to believe and did not believe that there had been a Misrepresentation, or the relevant part of the presentation did not fairly represent the report, opinion or statement of the expert, or was not a fair copy of, or an extract from, the report, opinion or statement of the expert;no person or company (other than the Company) will be liable with respect to any part of the presentation not purporting to be made on the authority of an expert or to be a copy of, or an extract from, report an opinion or a statement of an expert unless the person or company (i) failed to conduct a reasonable investigation to provide reasonable grounds for a belief that there had been no Misrepresentation or (ii) believed that there had been a Misrepresentationno person or company is liable with respect to a Misrepresentation in forward looking information if (i) the presentation containing the forward looking information also contains, proximate to the forward looking information, reasonable cautionary language identifying the forward looking information as such and identifying material factors that could cause actual results to differ materially from a conclusion, forecast or projection in the forward looking information, and a statement of the material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection set out in the forward looking information; and (ii) the person or company had a reasonable basis for drawing the conclusions or making the forecast or projections set out in the forward looking information. This paragraph does not relieve a person of liability respecting forward looking information in a financial statement required to be filed under Prince Edward Island securities laws.in an action for damages, the defendant is not liable for any damages that is proves do not represent the depreciation in value of the securities of the Company resulting from the Misrepresentation; andin no case shall the amount recoverable exceed the price at which the securities of the Company purchased by the investor were offered.27TSX-V: CADwww.ccoal.caRights of Action for Purchasers, continuedManitoba. If this presentation or any amendment hereto contains a Misrepresentation, an investor is deemed to have relied on the Misrepresentation and has a right of action for damages against the Company and, subject to certain additional defences, every director of the Company at the date of the presentation, or alternatively, while still the owner of the purchased securities, a right of rescission against the Company (in which case, the investor shall have no right of action for damages against the persons described above), provided that:1.no action may be commenced to enforce a right of action:for rescission, more than 180 days after the date of the transaction that gave rise to the cause of action; orfor damages, more than the earlier of (i) 180 days after the day that the investor first had knowledge of the facts giving rise to the cause of action, or (ii) two years after the date of the transaction that gave rise to the cause of action;no person or company is liable if the person or company proves that the investor purchased the securities of the Company with knowledge of the Misrepresentation;no person or company (other than the Company) will be liable if the person or company proves that (i) the presentation was sent to the investor without the persons or companys knowledge or consent, and that, after becoming aware of its delivery, the person or company promptly gave reasonable notice to the Company that it was sent without the persons or companys knowledge and consent, (ii) on becoming aware of the Misrepresentation, the person or company withdrew their respective consent to the presentation and gave reasonable notice to the Company of the withdrawal and the reason for it, or (iii) with respect to any part of the presentation purporting to be made on the authority of an expert or to be a copy of, or an extract from, an experts report, opinion or statement, the person or company did not have any reasonable grounds to believe and did not believe that there had been a Misrepresentation, or the relevant part of the presentation did not fairly represent the experts report, opinion or statement, or was not a fair copy of, or an extract from, the experts report or statement;no person or company (other than the Company) will be liable with respect to any part of the presentation not purporting to be made on the authority of an expert and not purporting to be a copy of, or an extract from, an experts report, opinion or statement, unless the person or company (i) did not conduct an investigation sufficient to provide reasonable grounds for a belief that there had been no Misrepresentation or (ii) believed that there had been a Misrepresentation;in the case of an action for damages, the defendant is not liable for all or any part of the damages that the defendant proves do not represent the depreciation in value of the securities of the Company as a result of the Misrepresentation; andin no case shall the amount recoverable exceed the price at which the securities of the Company were offered to the Investor under this presentation.28TSX-V: CADwww.ccoal.caRights of Action for Purchasers, continuedSaskatchewan. If this presentation, together with any amendment to this presentation, is sent or delivered to an investor resident in Saskatchewan and contains a Misrepresentation at the time of purchase, the investor is deemed to have relied upon that Misrepresentation and will have a right for damages against the Company, every promoter and director of the Company, every person or Company whose consent has been filed respecting the offering, but only with respect to reports, opinions or statements that have been made by them, and every person or company who sells securities on behalf of the Company under the presentation, or alternatively, while still the owner of the purchased securities, for rescission against the Company (in which case the investor shall have no right of action for damages against the persons described above), provided that:no person or company will be liable if the person or company proves that the investor purchased the securities of the Company with knowledge of the Misrepresentation;no person or company (other than the Company) will be liable if the person or company proves that (i) the presentation or amendment was sent or delivered without the persons or companys knowledge or consent and that, on becoming aware of it being sent or delivered, the person or company gave reasonable general notice that it was sent or delivered without the persons or companys knowledge, or (ii) with respect to any part of the presentation purporting to be made on the authority of an expert or purporting to be a copy of, or an extract from, a report, an opinion or a statement of an expert, the person or company had no reasonable grounds to believe and did not believe that there had been a Misrepresentation, or the relevant part of the presentation did not fairly represent the report, opinion or statement of the expert, or was not a fair copy or extract from the report, opinion or statement of the expert;no person or company (other than the Company) will be liable with respect to any part of the presentation not purporting to be made on authority of an expert, or to be a copy of or an extract from a report, opinion or statement of an expert, unless the person or company (i) failed to conduct a reasonable investigation sufficient to provide reasonable grounds for a belief that there had been no Misrepresentation or (ii) believed there had been a Misrepresentation; in the case of an action for damages, no person or company will be liable for all or any portion of the damages that it proves do not represent the depreciation in value of the securities of the Company as a result of the Misrepresentation; andno case shall the amount recoverable exceed the price at which the securities of the Company were offered to the investor.Not all defences upon which the Company or others may rely are described herein. Please refer to the full text of the Securities Act (Saskatchewan) for a complete listing.Similar rights of action for damages and rescission are provided to residents in Saskatchewan in respect of a Misrepresentation in advertising and sales literature disseminated in connection with an offering of securities of the Company.Where an individual makes a verbal statement to a prospective purchaser resident in Saskatchewan that contains a Misrepresentation relating to the securities of the Company purchased and the verbal statement is made either before or contemporaneously with the purchase of such securities of the Company, the purchaser has a right of action for damages against the individual who made the verbal statement if it was a Misrepresentation at the time of purchase, regardless of whether the purchaser relied on the Misrepresentation.An investor resident in Saskatchewan to whom this presentation or any amendment hereto was not sent or delivered prior to or at the same time as the purchaser enters into an agreement to purchase the securities of the Company has a right of action for rescission or damages.No action shall be commenced to enforce the foregoing rights:the case of action for rescission, more than 180 days after the date of the transaction that gave rise to the cause of action; orin the case of any action, other than action for rescission, more than the earlier of (i) one year after the investor first had knowledge of the facts giving rise to the cause of action, or (ii) six years after the date of the transaction that gave rise to the cause of the action;An investor resident in Saskatchewan who has entered into an agreement for the purchase of securities, which has not yet been completed, and who receives an amendment to the presentation that discloses (i) a material change in the affairs of the Company, (ii) a change in the terms or conditions of the offering as described in this presentation or (iii) securities to be distributed that are in addition to the securities of the Company described in this presentation, that occurred or arose before the investor entered into the agreement for the purchase of the securities of the Company, may within two business days of receiving the amendment deliver a notice to the Company or the agent from whom the securities of the Company are being purchased indicating the investors intention not to be bound by the purchase agreement.If the securities of the Company are sold in Saskatchewan in contravention of Saskatchewan securities legislation or a decision of Saskatchewan Financial Services Commission, a purchaser resident in Saskatchewan may elect to void the purchase agreement, and if the purchaser so elects, the purchaser is entitled to recover all money and other consideration paid by such purchaser for the securities of the Company.29TSX-V: CADwww.ccoal.caRights of Action for Purchasers, continuedRights for Purchasers in Alberta, British Columbia and QuebecBy purchasing the securities of the Company hereunder, purchasers in the provinces of Alberta, British Columbia and Quebec who are not entitled to the statutory rights described above, in consideration of their purchase of securities of the Company and upon accepting a purchase confirmation in respect thereof, are hereby granted a contractual right of action from damages or rescission that is substantially the same as the statutory right of action, if any, provided to residents of Ontario who purchase securities of the Company.GeneralThe foregoing summaries are subject to the express provisions of the applicable securities law of each jurisdiction, and the regulations, rules and policy statements thereunder and reference is made thereto for the complete text of such provisions.30TSX-V: CADwww.ccoal.ca

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