Coalcorp Announces Completion of Property Option Agreement

    TORONTO, April 11 /CNW/ - Coalcorp Mining Inc. (TSX: CCJ) announced today
that it has completed the previously-announced exploration agreement with BHP
Billiton, the world's largest diversified resources company. The three-year
agreement, covering 31 exploration properties in Colombia, grants BHP Billiton
the option to earn a 50% interest in any particular deposit discovered, by
sole funding 100% of exploration expenditures, subject to an annual minimum of
$2.5 million until the completion of a pre-feasibility study. BHP Billiton can
earn a further 10% in the deposit by funding all expenditures through
completion of a feasibility study and assisting Coalcorp in arranging for
financing its share of development costs.

    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

    %SEDAR: 00004043E

For further information:

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

Organization Profile

Coalcorp Mining Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890