CCF

Cobalt Coal Ltd. (formerly Cobalt Coal Corp.) (TSX VENTURE:CCF) ("Cobalt" or the
"Company") has become aware, as a result of a Continuous Disclosure Review
conducted from time to time by the Alberta Securities Commission, that certain
of its previously announced reserve data is not compliant with National
Instrument 43-101. 


As a result, the Company hereby retracts the reserve information contained in
the Company's January 19, 2011 news release together with the reserves
information contained in the Company's MD&A filings dated April 29, August 26
and November 25, 2011 (the "Filings"). 


The retraction of the coal reserve information reported in the Filings is
required as the reserve information has not been verified by a qualified person
under National Instrument 43-101 and therefore is unsupported by a Technical
Report compliant with National Instrument 43-101 and the reserve estimates
should not be relied upon.


The only coal reserve information supported by a Technical Report under National
Instrument 43-101 is the Westchester Mine report dated June 8, 2009 which was
prepared by Norwest Corporation ("Norwest") and approved by a Qualified Person
as required by National Instrument 43-101.


A summary of the information disclosed in the June 8, 2009 Norwest Technical
Report is as follows:


WESTCHESTER COAL MINE SEWELL SEAM 

CLEAN COAL RESERVE SUMMARY (KT0NS)



----------------------------------------------------------------------------
Area                                     Underground Clean Coal Reserves    
                                                     (KTONS)                
----------------------------------------------------------------------------
                                           Proven             Probable      
----------------------------------------------------------------------------
North Block                                79.618                 0         
----------------------------------------------------------------------------
South Block(1)                             520.261                0         
----------------------------------------------------------------------------
Total                                                599.879                
----------------------------------------------------------------------------



About Cobalt

Cobalt is a publicly traded coal exploration and production company
headquartered in Calgary, Alberta, Canada with a regional office in Welch, West
Virginia, and is exclusively focused on growth opportunities in metallurgical
grade coal.  


READER ADVISORY

Statements in this news release may contain forward-looking. The reader is
cautioned that assumptions used in the preparation of such information may prove
to be incorrect. Events or circumstances may cause actual results to differ
materially from those predicted, a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control of the
Corporation. These risks include, but are not limited to, the risks associated
with the coal mining industry, commodity prices and exchange rate changes.
Industry related risks could include, but are not limited to, operational risks
in exploration, development and production, delays or changes in plans, risks
associated to the uncertainty of reserve estimates, health and safety risks and
the uncertainty of estimates and projections of production, costs and expenses.
The reader is cautioned not to place undue reliance on this forward-looking
information.

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