Coalcorp Announces Withdrawal of Proposal to Acquire the Company

    TORONTO, Feb. 4 /CNW/ - Coalcorp Mining Inc. (TSX-CCJ) announced today
that the non-binding unsolicited proposal to acquire all of the company's
common shares which was announced by the company on February 1, 2008 expired
today without the parties reaching an agreement as to arrangements for due
diligence and exclusivity.

    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: Peter Volk, General Counsel and Secretary,
(416) 360-4653

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Coalcorp Mining Inc.

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