Coalcorp Enters into a Discharge Agreement and Short-Term Transportation
Services Agreement with Vale

TORONTO, Dec. 11 /CNW/ - Coalcorp Mining Inc. ("Coalcorp" or the "Company") (TSX-CCJ) announced today that Coalcorp and Vale have entered into an agreement regarding the rendering by one of Vale's Colombian subsidiaries of rail discharge services to Coalcorp at its Rio Cordoba port (the "Discharge Agreement"). Subject to certain conditions and governmental approvals, the Discharge Agreement will enable Coalcorp to rail its coal from the La Francia mine to an area near Santa Marta, for further trucking to nearby ports located on the coast.

Coalcorp and Vale also entered into a short-term agreement whereby Coalcorp will render coal rail transportation services to Vale during a 45-day period.

Coalcorp is a coal mining, exploration and development company with interests in the La Francia coal mine and related infrastructure projects and a number of coal exploration properties, all located in Colombia. Coalcorp also holds a 60% equity interest in CCC which owns the La Caypa coal mine in Colombia. Further information can be obtained by visiting our website at www.coalcorp.ca or under the Company's profile at www.sedar.com.

Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Coalcorp does not undertake to update any forward-looking statements; such statements speak only as of the date made.

SOURCE Coalcorp Mining Inc.

For further information: For further information: Joseph Belan, Interim Chief Executive Officer, +57-1-658-5050 Ext: 9990

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