Coalcorp Announces Share Consolidation

    TORONTO, June 13 /CNW/ - Coalcorp Mining Inc. (TSX-CCJ) announced today
that at its recently held special meeting, shareholders approved the
consolidation of its issued and outstanding common shares on a one-for-seven
basis. All of the company's outstanding warrants and stock options will also
be consolidated on the same basis. Upon consolidation, the company will have
approximately 89,656,268 issued and outstanding common shares and 4,097,500
stock options with an average exercise price of C$5.25. The post-consolidation
warrants will be as follows:

                      Outstanding     Exercise price (C$)        Expiry date
    Unlisted warrants     214,285              4.20       September 22, 2007
    CCJ.WT             24,642,857              5.60         February 8, 2011
    CCJ.WT.A           19,878,571              8.40          August 17, 2011

    The consolidations will be effective as of June 14, 2007.

    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

For further information:

For further information: Michael Davies, Chief Financial Officer, (416)

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Coalcorp Mining Inc.

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