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Coalspur Reaches Agreement With Tourmaline Oil Corp Ahead of Alberta Energy Regulator Hearing

Coalspur Reaches Agreement With Tourmaline Oil Corp Ahead of Alberta Energy
Regulator Hearing

VANCOUVER, British Columbia, Dec. 9, 2013 (GLOBE NEWSWIRE) -- Coalspur Mines
Limited ("Coalspur" or "Company") (ASX:CPL) (TSX:CPT) announced today that it
has entered into an agreement with Tourmaline Oil Corp. ("Tourmaline"), one of
the remaining two parties granted intervener status by the Alberta Energy
Regulator ("AER"). As a result, Tourmaline has withdrawn as an intervener in
relation to Coalspur's Vista project and the portion of the AER hearing that
commenced on December 9, 2013, was closed shortly after it started, without
the submission of any evidence.

Highlights:

  *Coalspur and Tourmaline Oil Corp have concluded an agreement in relation
    to overlapping mineral development rights involving the Vista project
  *The agreement provides Coalspur with the ability to develop Vista in
    accordance with its current development plans
  *As part of this agreement, Tourmaline has withdrawn as an intervener in
    the Alberta Energy Regulator's approval process
  *Only one intervener, Alexis Nakota Sioux Nation, remains involved in the
    regulatory process for Vista and negotiations to address their concerns
    are continuing

The agreement addresses Tourmaline's concerns in relation to those of its oil
and gas development rights which overlap Coalspur's mineral development rights
at Vista.

"The agreement with Tourmaline allows Coalspur to develop Vista in accordance
with our mine development plan while also addressing concerns raised by
Tourmaline. This additional agreement further demonstrates our strong
engagement with all relevant parties, including First Nations who utilize the
Hinton region for traditional purposes, in order to ensure support for Vista
and achieve regulatory approval," said Gill Winckler, Coalspur President and
CEO.

Following the withdrawal of Tourmaline as an intervener in relation to the
Vista project, only one intervener remains, namely Alexis Nakota Sioux Nation
("Alexis").

"Following the two agreements with Ermineskin Cree Nation and the Whitefish
(Goodfish) Lake First Nation announced by Coalspur last week, Coalspur has
concluded five agreements with aboriginal communities relating to Vista.
Having achieved these agreements, we are highly confident of being able to
address the development issues raised by the remaining First Nation
intervener, Alexis, and negotiations to this end continue. In the event that
an agreement with Alexis cannot be reached, we will proceed with the AER
hearing scheduled for January 13, 2014," said Gill Winckler, Coalspur
President and CEO.

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: (1)
that all required third party approvals will be obtained for the development,
construction and production of its properties; (2) that additional financing
will be available on reasonable terms; (3) there being no significant
disruptions affecting operations, whether due to labour disruptions, supply
disruptions, power disruptions, damage to equipment or otherwise; (4)
permitting, development and expansion proceeding on a basis consistent with
the Company's current expectations; (5) currency exchange rates being
approximately consistent with current levels; (6) certain price assumptions
for coal; (7) production forecasts meeting expectations; (8) the accuracy of
the Company's current mineral resource and reserve estimates; (9) labour and
materials costs increasing on a basis consistent with the Company's current
expectations; and (10) assumptions made and judgments used in engineering and
geological interpretation. 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
        
         Ryan Walchuck
         Investor Relations
         North America and Europe
         rwalchuck@coalspur.com
         P: +1 604 220 8595
        
         David Montpetit
         VP, External Affairs and Logistics
         dmontpetit@coalspur.com
         P: +1 403 801 1344
 
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