Coalcorp Initiates Strategic Review Process

    TORONTO, Feb. 7 /CNW/ - Coalcorp Mining Inc. (TSX-CCJ) announced today
that its board of directors has unanimously approved a process to review
strategic alternatives with the objective of maximising shareholder value. The
board of directors has retained GMP Securities L.P. and Endeavour Financial
International Corporation as its exclusive financial advisors to assist in
exploring strategic alternatives. These alternatives may include but are not
limited to strategic alliances, financing opportunities, mergers,
acquisitions, a sale of all or part of the business, or such other
alternatives that are considered to be in the best interest of the company's

    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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