Corsa Announces Second Quarter Sales, Record Production at the Casselman Mine and Quintana Transaction Update

Corsa Announces Second Quarter Sales, Record Production at the Casselman Mine
                       and Quintana Transaction Update

PR Newswire

TORONTO, June 6, 2013

TORONTO, June 6, 2013 /PRNewswire/ - Corsa Coal Corp. (TSXV: CSO) ("Corsa" or
the "Company") is pleased to announce that during the second quarter of fiscal
2013, the Company sold 83,000 tons of clean metallurgical coal bringing its
year to date sales to 119,000 tons. The Company also sold 10,000 tons of raw
metallurgical coal in the first quarter of fiscal 2013. The Company confirms
its stated clean metallurgical coal sales guidance for fiscal 2013 of
approximately 300,000 to 320,000 tons and first quarter 2014 of approximately
45,000 to 60,000 tons.

Production from  the Company's  Casselman underground  mine was  approximately 
116,000 ROM tons for the quarter with the mine achieving record production  of 
45,000 ROM tons in May. The Company has successfully commenced highwall mining
operations at its Hemminger surface mine and has commenced development at  its 
Ankeny surface mine with initial production expected this month.

The Company expects to post the required bond for its Acosta Deep  underground 
mine in the Middle Kittanning seam  this month with the final permit  expected 
to be issued shortly thereafter. In addition, the Company expects to post the
required bonds for its Ash and Hamer  surface mines this month with the  final 
permits expected shortly thereafter.

Don Charter, CEO  stated: "We  are very pleased  with the  performance of  the 
Casselman mine  and the  commencement  of the  highwall mining  operations  at 
Hemminger. The Company continues to make positive strides in its mining  costs 
with costs for the quarter expected to be lower than last quarter as a  result 
of the performance at Casselman. With the completion of the permitting of  the 
Acosta Deep project imminent and the ability to quickly expand Casselman,  the 
Company is very well positioned moving forward."

The Company  continues  to  actively  market its  high  quality  low  volatile 
metallurgical coal  and  is in  discussions  with domestic  and  international 
buyers. The Company continues to match production to actual sales and does not
have unnecessary  inventories  of  unsold  coal.  While  the  Company  remains 
optimistic that further sales will be  achieved, it only reports future  sales 
guidance based on currently contracted  volumes. The Company has continued  to 
be successful in achieving sales  as a result of  the superior quality of  its 
low volatile metallurgical coal product.

Update on the Quintana Transaction

A summary of  the transaction with  Quintana Kopper Glo  Investment, LLC  (the 
"Transaction") and of related documents is set out in Corsa's material  change 
report dated March 28, 2013, available on sedar.com.

In  accordance  with  the  requirements  of  the  TSX  Venture  Exchange  (the 
"Exchange"), Corsa will  be submitting  for review  to the  Exchange a  Filing 
Statement in respect of  the Transaction. The  Filing Statement requires  the 
preparation of a NI 43-101 compliant technical report on Kopper Glo's material
property and preparation of historical  and pro forma financial statements  in 
accordance with  requirements of  Canadian Securities  Administrators.  Corsa 
expects to submit  a draft of  the Filing  Statement to the  Exchange for  its 
review in June and to  seek approval of a  majority (50%) of its  shareholders 
(by written consent) in July. At this time shareholders holding  approximately 
50.3 per cent of the currently  outstanding shares of the Company have  agreed 
to vote  in favour  of the  Transaction  which is  sufficient to  achieve  the 
required approval. The  Transaction is targeted  to close by  the end of  July 
2013.

Completion of the Transaction is subject to a number of conditions,  including 
Exchange acceptance and disinterested  shareholder approval. The  Transaction 
cannot close until the required shareholder approval is obtained. There can be
no assurance that  the Transaction will  be completed as  proposed or at  all. 
Investors are cautioned that, except as  disclosed in the Filing Statement  to 
be prepared in connection  with the Transaction,  any information released  or 
received with respect to the Transaction  may not be accurate or complete  and 
should not  be relied  upon. Trading  in the  securities of  Corsa should  be 
considered highly speculative.

The Exchange has in no way passed upon the merits of the proposed  transaction 
and has neither approved nor disapproved the contents of this press release.

Caution

The estimated  coal  production,  purchases,  sales  and  processing  of  coal 
disclosed  in  this  press  release  are  considered  to  be  forward  looking 
information. Readers  are cautioned  that actual  results may  vary from  this 
forward looking information. There can  be no assurance as  to when or if  the 
required  permits  will  be  issued.  Actual  production,  sales,   shipments, 
purchases, total cash  costs and  sales and  processing costs  are subject  to 
variation based on a number of risks  and other factors referred to under  the 
heading "Forward-Looking Statements" as well as actual demand and sales orders
received. Costs will be impacted by production levels actually achieved.

Information about Corsa

Corsa's main operating subsidiaries are  Wilson Creek Energy LLC and  Maryland 
Energy Resources  LLC based  in Somerset  County, Pennsylvania.  Its  primary 
business is the mining, processing  and selling of low volatile  metallurgical 
coal,  as  well  as  actively  exploring,  acquiring  and   developing 
resource properties consistent with its coal business.

Forward-Looking Statements

Certain information set forth in this press release contains  "forward-looking 
statements" and  "forward-looking  information"  under  applicable  securities 
laws. Except for statements of historical fact, certain information  contained 
herein  constitutes  forward-looking  statements  which  include  management's 
assessment of future plans  and operations and are  based on current  internal 
expectations, estimates, projections, assumptions and beliefs, which may prove
to be incorrect. Some of the  forward-looking statements may be identified  by 
words such as  "estimates", "expects"  "anticipates", "believes",  "projects", 
"plans", "outlook", "capacity" and  similar expressions. These statements  are 
not guarantees of future performance and  undue reliance should not be  placed 
on them. Such forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause the Company's actual performance  and 
financial results in future periods to differ materially from any  projections 
of future performance or results expressed or implied by such  forward-looking 
statements. These risks  and uncertainties  include, but are  not limited  to: 
risks that the actual  production or sales  for the 2013  fiscal year will  be 
less than projected  production or  sales for  these periods;  risks that  the 
prices for coal  sales will be  less than projected  or expected;  liabilities 
inherent in coal  mine development and  production including restarting  idled 
mines; geological,  mining and  processing  technical problems;  inability  to 
obtain required  mine  licenses,  mine permits  and  regulatory  approvals  or 
renewals required in connection with the mining and processing of coal;  risks 
that the  Company's coal  preparation  plant will  not operate  at  production 
capacity during the relevant  period, unexpected changes  in coal quality  and 
specification; variations in the coal mine or coal preparation plant  recovery 
rates; dependence on third party coal transportation systems; competition for,
among other things, capital, acquisitions  of reserves, undeveloped lands  and 
skilled personnel; incorrect assessments of the value of acquisitions; changes
in commodity  prices  and exchange  rates;  changes in  the  regulations  with 
respect to the use, mining and  processing of coal; changes in regulations  on 
refuse disposal; the effects of competition and pricing pressures in the  coal 
market; the  oversupply  of,  or  lack  of  demand  for,  coal;  inability  of 
management to secure coal  sales or third  party purchase contracts;  currency 
and interest rate fluctuations; various events which could disrupt  operations 
and/or the transportation  of coal  products, including  labour stoppages  and 
severe weather conditions; the demand for  and availability of rail, port  and 
other transportation services; the  ability to purchase  third party coal  for 
processing and  delivery under  purchase agreements;  risk that  the  required 
approvals of  for  the  Transaction  will  not  be  obtained,  risk  that  the 
Transaction will not  be completed or  completed by the  anticipated date  and 
management's ability to anticipate and manage the foregoing factors and risks.
The forward-looking statements and information contained in this press release
are based on certain assumptions regarding, among other things, future  prices 
for coal;  future  currency  and  exchange rates;  the  Company's  ability  to 
generate sufficient cash flow  from operations and  access capital markets  to 
meet its future obligations; the regulatory framework representing  royalties, 
taxes and  environmental matters  where the  Company conducts  business;  coal 
production levels; and  the Company's  ability to retain  qualified staff  and 
equipment in  a cost-efficient  manner to  meet its  demand. There  can be  no 
assurance that forward-looking statements will prove to be accurate, as actual
results and future events  could differ materially  from those anticipated  in 
such statements.  The reader  is  cautioned not  to  place undue  reliance  on 
forward-looking statements. The Company  does not undertake  to update any  of 
the forward-looking statements contained in this press release unless required
by law. The statements  as to the  Company's capacity to  produce coal are  no 
assurance that it will achieve these levels  of production or that it will  be 
able to achieve these sales levels.

The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release. Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

SOURCE Corsa Coal Corp.

Contact:

Corsa Coal Corp.:

Don Charter
President and Chief Executive Officer
416-214-9800
communication@corsacoal.com
www.corsacoal.com

Paul Caldwell
Chief Financial Officer and Corporate Secretary
416-214-9800
communication@corsacoal.com
www.corsacoal.com
 
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