VANCOUVER, BRITISH COLUMBIA–(Marketwire – May 17, 2012) – Colonial Coal International Corp. (TSX VENTURE:CAD) (the “Company” or “Colonial”) is pleased to provide the following corporate update.

Colonial is continuing to mobilize for its planned 2012 drill programs on each of its 100% owned Huguenot and Flatbed metallurgical coal properties located in northeast British Columbia.

Huguenot Coal Project

Our Company has retained Norwest Corp. to review our recent exploration results and to prepare an updated NI 43-101 technical report for the property’s main coking coal targets (contained within the Gates Formation coal measures). The technical report is intended to update all results previously reported for the property’s North Block and to more particularly delineate and update all prior material results for the Middle and South Blocks for which only historical information had been reported to date. The updated technical report will incorporate all data obtained from our most recent 2011 exploration program.

Colonial has budgeted $2.5 – $3 million for additional exploration for 2012; it is anticipated that this program will be initiated in early July. Environmental baseline studies and data collection are continuing; this work is budgeted at approximately $650,000.

Flatbed Project

This project is located in northeast British Columbia approximately 20 kms southwest of the town of Tumbler Ridge in an area of past and current coal mining (the Quintette and Trend coal mines, respectively). Our Company retains sufficient funds to proceed with a significant exploration program once coal licenses are granted and appropriate work permits are obtained.

About Colonial Coal International Corp.

Colonial is a publicly traded pure-play coking coal company in British Columbia. The northeast Coal Block of British Columbia, within which our Company’s projects are located, hosts a number of proven deposits and has been the subject of M&A activities by Xstrata, Walter Energy, Anglo and others. Colonial is well financed, with approximately $12.5 million in cash and equivalents, no debt and approximately 65 million shares issued.

Additional information can be found on the Company’s website www.ccoal.ca or by viewing the Company’s filings at www.sedar.com.

Forward-Looking Information

Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.

Previous news:

Colonial Coal International Corp. Announces MOU To Form a Joint Venture to Acquire and Develop Watson Island Site

Courtesy of: marketwire.com

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 3, 2011) – Colonial Coal International Corp. (TSX VENTURE:CAD) (the “Company” or “Colonial” – David Austin, President and CEO), is pleased to announce that the Company and an industry participant have executed a memorandum of understanding (“MOU”) with the Lax Kw’alaams Band and Metlakatla First Nations (collectively, the “Coast Tsimshian Nation”) for the formation of a joint venture for the potential acquisition of the Watson Island site (the “Watson Island Land”) pursuant to an exclusivity agreement (the “Exclusivity Agreement”) between the Coast Tsimshian Nation and the City of Prince Rupert whereby the Coast Tsimshian Nation have an exclusive arrangement with the City of Prince Rupert to purchase the Watson Island Land.

As part of the MOU, and to support the ongoing feasibility investigation of the development of the Watson Island Land, the Company and its MOU partner have agreed to assume the obligation of the Coast Tsimshian Nation to compensate the City of Prince Rupert for actual land expense in accordance with the terms of the Exclusivity Agreement. It is anticipated that such payments will be made for the term of the Watson Island Land feasibility investigation although, under the MOU, the Company and its partner reserve the right, in their sole discretion, to terminate the payments at any time.

The MOU is non-binding except in certain limited respects but sets out the 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 to be completed (the “Definitive Agreement”). Execution of the Definitive Agreement is subject to a number of conditions for the benefit of the Coast Tsimshian Nation, the Company and its partner and common to agreements of this nature, including, among other things, further due diligence and management approval.

Colonial Coal International Corp. Announces Additional Huguenot Coal Project Licenses

2011-03-31 18:10 ET
VANCOUVER, BRITISH COLUMBIA–(Marketwire – March 31, 2011) – Colonial Coal International Corp. (TSX VENTURE:CAD) (the “Company” or “Colonial”) is pleased to announce that it has filed applications for additional coal licenses adjoining the Company’s Huguenot coal project.

These coal license applications target potentially coal-bearing strata at depth, and extend across areas that may be required for future mine and transportation-related infrastructure. These coal license applications total approximately 16,425 hectares(ha). Prior to this the Company’s Huguenot coal project consisted of 13 coal licenses covering 6,467 ha plus two (earlier) coal license

Read more about it at: marketwire.com

Colonial Coal closes $4-million financing

2010-12-06 20:01 ET – News Release
COLONIAL COAL INTERNATIONAL CORP. ANNOUNCES CLOSING OF $4,000,000 UNIT FINANCING

Colonial Coal International Corp., further to its news release in Stockwatch dated Nov. 8, 2010, has now closed a non-brokered private placement consisting of 5,198,052 units of the company, at a subscription price of 77 cents per unit, for gross proceeds of $4,002,500.

Each unit consists of one common share and one transferable common share purchase warrant of the company, with each such warrant entitling the holder thereof to purchase one additional common share of the company at an exercise price of $1.10 per warrant share up to and including Dec. 3, 2013.

All shares issued pursuant to the offering and any warrant shares issuable in connection with the exercise of any of the warrants, if any, will be subject to a four-month hold period expiring on April 4, 2011, in accordance with the policies of the TSX Venture Exchange and applicable securities laws.

Total finders’ fees of $125,125 in cash and 162,500 finders’ warrants have now been paid and issued in conjunction with the closing of the offering, with each such finder’s warrant having the same terms as the warrants forming part of the units under the offering.

Proceeds of the offering are expected to be used by the company for the further exploration and development work on its Huguenot coal project, consisting of certain additional environmental, geotechnical and community/first nations consultation work associated with the same.

We seek Safe Harbor.