Mr. Shane Austin reports

COLONIAL COAL ANNOUNCES RESULTS OF AGM AND APPOINTMENTS

Colonial Coal International Corp. has released the results of the company's annual general meeting (the AGM) held on Dec. 14, 2023, in Vancouver, B.C.

The company is pleased to report that, at its AGM, shareholders voted to re-elect David Austin, Ian Downie, Anthony Hammond, John Perry, Gregory Waller and Partha S. Bhattacharyya as directors of the company for the ensuing year.

In addition, at the AGM shareholders also approved the reappointment of PricewaterhouseCoopers LLP, chartered professional accountants, as the company's auditor, and authorized the directors to fix the auditor's remuneration.

Furthermore, at the AGM shareholders also approved the continuation of the company's current share option plan which is dated for reference Dec. 14, 2022.

For more information on these matters please refer to the company's AGM management information circular which is available on SEDAR+.

Following the AGM the board of directors met and confirmed the appointment of the following company executive officers:

• Mr. Austin: chairman, president and chief executive officer;
• Mr. Perry: chief operating officer;
• Andrea Yuan: corporate secretary and chief financial officer.

The following members were reappointed to the company's current audit committee:

• Mr. Downie (chairman);
• Mr. Austin;
• Mr. Hammond.

The board would like to thank the shareholders for their continuing support.

About Colonial Coal International Corp.

Colonial Coal is a publicly traded coal corporation in British Columbia that focuses primarily on coking coal projects. The Northeast coal block of British Columbia, within which the corporation's projects are located, hosts a number of proven deposits and has been the subject of merger and acquisition activities by Anglo-American and others.

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