Endeavour Financial Corporation - Acquisition of additional common shares of Coalcorp Mining Inc.

    Toronto Stock Exchange - EDV

    GEORGE TOWN, Oct. 2 /CNW/ - Endeavour Financial Corporation ("Endeavour")
announces that it has acquired an additional 3,695,457 common shares ("Common
Shares") of Coalcorp Mining Inc. ("Coalcorp") by way of public market
transactions at a price of $1.39 per Common Share, representing approximately
2.1% of the issued and outstanding Common Shares of Coalcorp (the
    Prior to the acquisition, Endeavour held an aggregate of 12,641,502
Common Shares, as well as 9,363,285 warrants ("Warrants") entitling it to
acquire 9,363,285 Common Shares. After giving effect to the acquisition,
Endeavour holds 16,336,959 Common Shares, representing approximately 9.4% of
the issued and outstanding Common Shares of Coalcorp. If all of the Warrants
were exercised, assuming no other outstanding convertible securities of
Coalcorp were exercised or converted, Endeavour would own approximately 14.0%
of the issued and outstanding Common Shares of Coalcorp.
    The common shares of Coalcorp were acquired by Endeavour for investment
purposes. Subject to availability, price, the general state of the capital
markets and the financial condition of Coalcorp from time to time, Endeavour
may purchase or sell securities of Coalcorp.

    About Endeavour Financial Corporation

    Endeavour is an independent merchant banking company focused on the
global natural resources sector. The Corporation offers advisory services in
project, corporate and debt capital markets; equity financings; mergers and
acquisitions; and strategic business development. Endeavour also provides
equity and bridge loans in support of clients, transactions, and other market
opportunities. Accessing its global industry networks, Endeavour creates and
launches new growth companies as both an advisor and investor.
    For additional informational please visit our corporate website at

    On behalf of Endeavour Financial Corporation

    "Bill Koutsouras"

    Bill Koutsouras
    Executive Vice President and Chief Financial Officer

    The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The foregoing
information may contain forward-looking statements relating to the future
performance of Endeavour Financial Corporation. Forward-looking statements,
specifically those concerning future performance, are subject to certain risks
and uncertainties, and actual results may differ materially. These risks and
uncertainties are detailed from time to time in the Corporation's filings with
the appropriate securities commissions.

For further information:

For further information: Dr. Sally Eyre, Director Marketing & Business
Development, (604) 609-6129 Or Mr. Bill Koutsouras, Executive Vice President
and Chief Financial Officer, (345) 815-0601 Or Vanguard Shareholder Solutions,
1-866-341-4111 or (604) 608-0824, email: investor@endeavourfinancial.com

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