Mr. David Austin reports

COLONIAL COAL PROVIDES CORPORATE AND ANNUAL GENERAL MEETING UPDATES

Colonial Coal International Corp. has provided an update on the following.

Corporate update

Colonial Coal reports that discussions with several interested parties have recently accelerated, such that the same are expected to be meeting with the company over the coming weeks. Such discussions involve various proposed strategic relationships respecting the company and its core assets, the particulars of certain of which the company is hopeful will result in enhanced shareholder value for Colonial Coal. The company will continue to keep its shareholders and the market apprised of any material information that becomes available in connection with any of the same.

Annual general meeting

The company confirms that it has now completed the mailing of its meeting materials in connection with its annual general meeting scheduled for Dec. 10, 2025.

Meeting date, location and purposes

The meeting will be held on Dec. 10, 2025, at 9 a.m. Vancouver time at the offices of McMillan LLP, located at Suite 1500, 1055 West Georgia St., Vancouver, B.C., for the following purposes:

• Financial statements and auditor report -- to receive the audited consolidated financial statements of the company for the financial year ended July 31, 2025, and the auditor report thereon;
• Election of directors -- to elect directors for the ensuing year;
• Appointment of auditor -- to appoint PricewaterhouseCoopers LLP, chartered professional accountants, as auditor of the company for the ensuing year and to authorize the directors to fix the auditor's remuneration;
• Approval of current stock option plan -- to approve the continuation of the company's current stock option plan;
• Other Matters -- to transact such other business as may properly come before the meeting or any adjournment thereof.

For detailed information with respect to each of the matters in items 2, 3 and 4 above, please refer to the section bearing the corresponding heading in the management information circular prepared in respect of the meeting.

The information circular and related meeting materials have been posted to the company's profile on SEDAR+ and on the company's website.

Following the recent resumption of postal services by the Canadian Union of Postal Workers, there may be delays in the delivery of the meeting materials to shareholders. Accordingly, shareholders are encouraged to view the meeting materials as posted on-line and to cast their votes on-line or by telephone, in accordance with the voting instructions provided in the information circular to ensure instructions are received in a timely manner.

Voting of common shares

Shareholders are not required to be present at the meeting and can vote common shares in advance of the meeting. Proxies or voting instruction forms, as applicable, must be received by the company's transfer agent, Computershare Investor Services Inc., no later than 9 a.m. Vancouver time on Dec. 8, 2025, or at least 24 hours (excluding Saturdays, Sundays and holidays) before any adjournment of the meeting, or received by the chairman of the meeting before the commencement of the meeting, or any adjournment thereof.

How registered shareholders can vote

Registered shareholders are shareholders who hold their common shares directly in the company and not through a brokerage account or depository company. Registered shareholders may vote on-line or vote by telephone by following the instructions on the form of proxy. Registered shareholders who require their voting control numbers may obtain the voting control numbers by calling Computershare at 1-800-564-6253 (toll-free in North America) or at 1-800-564-6253.

How beneficial shareholders can vote

Beneficial shareholders are shareholders who hold their common shares through a brokerage house, depository company or other intermediary. Beneficial shareholders should contact their brokerage house or depository company or other intermediary and ask to obtain their voting control number and the steps of how to vote, which could include Internet voting, completing a voting instruction form and e-mailing it, directing your broker over the phone on how you wish to vote, or some other method as described by your brokerage house or depository company.

The company urges shareholders to review the information circular before voting.

About Colonial Coal International Corp.

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

We seek Safe Harbor.