An anonymous director reports

CORSA COAL PROVIDES UPDATE ON A-SEAM CONDEMNATION PROCEEDINGS

Corsa Coal Corp.'s wholly owned subsidiary, PBS Coals Inc., has entered into a binding memorandum of understanding dated Aug. 11, 2023, with the Pennsylvania Department of Transportation (PennDOT) in respect of a settlement of all claims by PBS for damages resulting from certain historical takings of leased land by PennDOT in 2010 and 2011. The binding memorandum of understanding agreement provides for a $35-million (U.S.) cash damages payment to PBS, and PBS expects to receive net proceeds of $23.3-million (U.S.) after the payment of contingent legal fees. Payment is expected to be received during the fourth quarter of 2023, and the net proceeds are intended to be used for general corporate purposes and the partial repayment of outstanding long-term debt.

The company does not intend to make any further public comments regarding these matters, unless required by law or stock exchange rules.

About Corsa Coal Corp.

Corsa is a coal mining company focused on the production and sales of metallurgical coal, an essential ingredient in the production of steel. Its core business is producing and selling metallurgical coal to domestic and international steel and coke producers in the Atlantic and Pacific basin markets.

We seek Safe Harbor.