Coalspur Mines Ltd.: Regulatory Hearing Adjourned

Coalspur Mines Ltd.: Regulatory Hearing Adjourned

Highlights:

  *The Alberta Energy Regulator has adjourned the regulatory hearing into
    Coalspur's Vista project from November 2013 and has set up two hearings,
    to be held in December 2013 and January 2014
  *Coalspur will evaluate the impacts of this delay and provide an update to
    the market once these implications are fully understood

VANCOUVER, British Columbia, Oct. 16, 2013 (GLOBE NEWSWIRE) -- Coalspur Mines
Limited ("Coalspur" or "Company") (ASX:CPL) (TSX:CPT) announced today that the
Alberta Energy Regulator ("AER") has adjourned the hearing for the Company's
Vista project ("Vista") which it had scheduled for November 25, 2013. The
hearing will be heard in two parts, in sequence and in different locations.
The new hearing dates are December 9 to December 13, 2013 in Calgary, Alberta
with respect to the intervener Tourmaline Oil Corp., and January 13 to January
17, 2014 in Hinton, Alberta with respect to the three aboriginal interveners.
The AER will be required to give decisions on both hearings separately, and
within 90 days of the close of each hearing.

The AER issued a hearing notice on August 15, 2013 and, on October 3, 2013,
set the hearing date for November 25, 2013. All four of the interveners
subsequently sent submissions to the AER noting that they did not have
sufficient preparation time to meet the hearing schedule. Coalspur believes
that all parties have had sufficient notice of, and time to prepare for, the
hearing on November 25. Irrespective, Coalspur will continue to engage with
the interveners in advance of the hearings in pursuit of mutually beneficial
agreements, and remains of the view that all relevant issues can be dealt with
either before or during the hearings.

The Company is assessing the implications of the seven-week adjournment with
its external and internal advisers. Once the implications and available
options have been fully evaluated, a further update will be provided. One of
the likely implications is that first production from Vista will no longer be
possible in 2015.

Irrespective of the adjournment, Coalspur believes that it has submitted
strong applications to the AER, consulted extensively with numerous aboriginal
groups and stakeholders in the region, completed the technical and
environmental requirements for regulatory approval, and illustrated that Vista
is an economically feasible project which could provide the Hinton region with
economic benefits for up to 30 years.

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. 

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 Vista, the AER regulatory
process, expected commencement of development and production, expected receipt
of regulatory approvals or licenses, and other matters.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:
historical regulatory practices indicate current regulatory practice; funding
required for the development of Vista will be obtained on terms acceptable to
Coalspur; contractors provide goods and/or services within the agreed
timeframes; equipment and materials necessary for construction and development
are available on time; no material labour slowdowns or strikes occur; plant
and equipment function as specified; geological or financial factors do not
necessitate future mine plan changes.Factors that could cause actual results
to differ materially from the forward-looking information, include but are not
limited to: risks associated with funding requirements for Vista development;
fluctuations in coal prices; uncertainties related to the availability of
future financing; risks related to Coalspur's existing credit facility, risks
associated with take or pay commitments with Ridley Terminals, risks
associated with the need for governmental licences, permits and approvals,
uncertainties related to aboriginal claims and multiple mineral development,
and 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.

CONTACT: For additional information, please contact:
        
         Greg Bittar
         VP, Investor Relations
         Australasia
         gbittar@coalspur.com
         P: + 61 409 611 744
        
         Chris Borowski
         Investor Relations
         North America and Europe
         cborowski@coalspur.com
         P: +1 403 973 5607
        
         David Montpetit
         VP, External Affairs and Logistics
         dmontpetit@coalspur.com
         P: +1 403 801 1344
 
Press spacebar to pause and continue. Press esc to stop.