Vancouver, British Columbia--(Newsfile Corp. - August 26, 2014) - Coalspur Mines Limited
(ASX: CPL) (TSX: CPT) ("Coalspur" or "Company") is pleased to announce that
the Alberta Energy Regulator ("AER") has issued the following approvals and
licences for Phase 1 of the Vista project ("Vista"):
- an approval under the Environmental Protection and Enhancement Act
(Alberta) for the construction, operation and reclamation of Vista;
- an approval under the Water Act (Alberta) to carry out activities
for the purpose of constructing, operating, maintaining and reclaiming Vista;
and
- a licence under the Water Act (Alberta) to operate works and to
divert a limited amount of ground water and surface water annually.
The final stage of the AER approval process is the issuance of
a Mineral Surface Lease pursuant to the Public Lands Act (Alberta), for
which the Company has applied.
About Coalspur
Coalspur is a coal development company with approximately
55,000 hectares of coal leases located within the Hinton region of Alberta,
Canada. Coalspur's flagship project is Vista, which covers approximately 10,000
hectares and provides a large scale, surface mineable, thermal coal development.
Vista is located adjacent to CN Rail's main line, which is suitable for the
transport of coal to deepwater ports on Canada's west coast. Coalspur has
secured a port allocation agreement with Ridley Terminals Inc., which is
essential to the logistics supply chain necessary to export coal from Vista to
the growing demand from the Asia Pacific countries. Coalspur is currently
undertaking a strategic review process in relation to Vista that was announced
on 23 June 2014.
For additional information, please contact:
Ryan Walchuck
Media and Investor Relations
rwalchuck@coalspur.com
P: +1 604
220 8595
No regulatory authority has approved or disapproved of the
information contained in this release.
This release contains forward-looking information concerning
Coalspur, including information regarding Coalspur's plans for financing,
permitting and developing Vista. All statements in this release, other than
statements of historical facts, that address events or developments that
Coalspur expects to occur, are statements of forward-looking information.
Although Coalspur believes that such forward-looking information is based on
reasonable assumptions, such information is not a guarantee of future
performance and actual results or developments may differ materially from the
forward-looking information. Material factors or assumptions used by Coalspur to
develop forward-looking information include the following: (a) additional
financing for the development of Vista will be available on reasonable terms;
(b) coal price and currency exchange rate assumptions; (c) regulatory approvals,
permits and licences for the development, construction and operation of Vista
will be obtained on a basis consistent with Coalspur's current expectations; (d)
Coalspur, EPC and mining contractors will execute construction and production
plans on cost and on schedule; (e) key personnel will be retained or recruited;
(f) accuracy of mineral resource and reserve estimates; (g) Coalspur's title to
mineral and surface rights will be maintained; (h) no significant disruptions
affecting operations, whether due to labour disruptions, supply disruptions,
power disruptions, damage to equipment or otherwise; and (i) Coalspur's secured
creditors will continue to be supportive of the strategic process. Factors that
could cause actual results to differ materially from forward-looking information
include: (i) uncertainties relating to obtaining the additional financing
required for the development of Vista or successfully selling Coalspur or some
for all of its assets and uncertainties related to project realization values;
(ii) conditions for drawdown and other requirements under existing credit
facilities, including the acceleration of debt due to events of default; (iii)
fluctuations in coal prices and currency exchange rates; (iv) uncertainties
regarding the receipt and conditions of regulatory approvals, permits and
licences required for the development, construction and operation of Vista; (v)
uncertainties relating to the ability of Coalspur, EPC or mining contractors to
execute construction or production plans on cost or on schedule; (vi)
uncertainties relating to the retention or recruitment of key personnel; (vii)
take or pay commitments with Ridley Terminals; (viii) uncertainties in
Coalspur's mineral resource or reserve estimates; (ix) any significant
disruptions affecting operations; (x) uncertainties related to aboriginal claims
and overlapping mineral or surface rights; and (xi) uncertainties related to
general economic, market and business conditions. For more information on
Coalspur, investors should review Coalspur's continuous disclosure filings that
are available at www.sedar.com and www.asx.com.au.
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