Coalcorp Announces Exercise of Over-Allotment Option



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES/

    TORONTO, March 19 /CNW/ - Coalcorp Mining Inc. (TSX: CCJ) announced today
that the over-allotment option granted to the underwriters in connection with
the company's public offering of units was exercised in respect of 30,000,000
common shares and 15,000,000 warrants for additional gross proceeds of
$21,000,000, bringing the aggregate gross proceeds to Coalcorp under the
offering to $161,000,000. The initial issue and sale of 200,000,000 units was
completed on March 13, 2007. The securities were sold through a syndicate of
underwriters led by GMP Securities L.P. and including Canaccord Capital
Corporation and Sprott Securities Inc.
    The units, common shares and warrants have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from U.S. registration requirements. This release does not constitute an offer
for sale of securities in the United States.

    Coalcorp is a coal mining, exploration and development company with
interests in the La Francia and La Caypa coal mines and related infrastructure
projects and a number of coal exploration properties, all located in Colombia.
Further information can be obtained by visiting our website www.coalcorp.ca.

    %SEDAR: 00004043E




For further information:

For further information: Robert Doyle, Chief Financial Officer, (416)
360-4653

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Coalcorp Mining Inc.

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