CCK Canada Coal (delisted)

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Mercury Capital Limited (MLC.P) ("Mercury") and Canada Coal Inc. ("Canada Coal")
(TSX VENTURE:CCK), are pleased to announce that they have completed their
previously announced business combination transaction effective as of February
23, 2012 (the "Effective Date"). The transaction was effected by way of an
amalgamation (the "Amalgamation") of Mercury and Canada Coal pursuant to an
amalgamation agreement dated November 4, 2011 ("Amalgamation Agreement"). The
Amalgamation was approved by the shareholders of Mercury and Canada Coal at
their respective annual and special meeting of shareholders, held on February
21, 2012. The amalgamated company (the "Resulting Issuer") is named "Canada Coal
Inc.". The TSX Venture Exchange ("Exchange") has issued its acceptance of the
Amalgamation, and the Resulting Issuer will commence trading on the Exchange on
February 29, 2012, under the symbol "CCK". 


On the Effective Date, all common shares of Mercury and Canada Coal were
exchanged for common shares of the Resulting Issuer ("Resulting Issuer Shares"),
on a one-for-one basis. All outstanding compensation options and warrants and
outstanding options issued pursuant to Mercury's stock option plan, remain
outstanding and shall entitle the holder thereof to acquire Resulting Issuer
Shares on the same terms and conditions as the original Mercury securities. All
outstanding warrants, compensation warrants and options issued pursuant to
Canada Coal's stock option plan, remain outstanding and shall entitle the holder
thereof to acquire Resulting Issuer Shares on the same terms and conditions as
the original Canada Coal securities. 


In addition, $976,500, representing the escrowed portion of the gross proceeds
raised by Canada Coal in connection with its previously announced private
placement financing of subscription receipts (the "Subscription Receipts"),
which closed on November 4, 2011, was released from escrow on completion of the
Amalgamation. Each Subscription Receipt was converted into one Resulting Issuer
Share and one-half of one Resulting Issuer warrant, with each whole warrant
entitling the holder to purchase one Resulting Issuer Share at a price of $0.80
per share until November 4, 2014.


As of the Effective Date, there are 43,449,750 Resulting Issuer Shares
outstanding, of which 40,100,000 Resulting Issuer Shares, representing
approximately 92.2% of the outstanding Resulting Issuer Shares, are held by the
former Canada Coal securityholders. In addition, an aggregate of 31,846,950
Resulting Issuer Shares have been reserved for issuance upon the exercise of
outstanding warrants, compensation options and stock options of Mercury and
Canada Coal. 


Following completion of the Amalgamation, management of the Resulting Issuer
consists of the following individuals: 




--  Abraham (Braam) Jonker, Director, President and Chief Executive Officer 
--  R. Bruce Duncan, Director, Executive Chairman 
--  Senator Michael MacDonald, Director 
--  Edward R. Klue, Director 
--  William F. Lindqvist, Director 
--  Thomas A. Fenton, Director and Corporate Secretary 
--  Olga Nikitovic, Chief Financial Officer 



Braam Jonker, President and CEO of Canada Coal commented that: "this is a
significant step forward for Canada Coal in its quest to unlock value from its
Nunavut Coal Property. We believe that the Company has the potential to add
meaningful economic value to the Territory of Nunavut and the community at large
whilst also creating significant shareholder value."


For further information regarding the Amalgamation, Canada Coal, Mercury and the
Resulting Issuer, please see the joint management information circular of
Mercury and Canada Coal dated January 23, 2012, which is available on SEDAR at
www.sedar.com.


About Canada Coal

Canada Coal is a publically listed company focused on coal exploration and
development in Nunavut. Through its two wholly-owned subsidiaries, Canada
Sovereign Coal Corp. and 5200 Nunavut Ltd., Canada Coal holds 75 active licences
comprising approximately 2,442,627 acres located on Ellesmere Island and Axel
Hieberg Island in Nunavut (the "Nunavut Coal Property"). Canada Coal has
commissioned a National Instrument 43-101 compliant technical report in respect
of the Nunavut Coal Property, dated September 30, 2011 entitled "The Nunavut
Coal Project-Ellesmere Island and Axel Heiberg Island, Nunavut, Canada" prepared
by Keith McCandlish, P. Geol., P. Geo., Susan O'Donnell, P. Geol., of Associated
Geosciences Ltd., Calgary, Alberta, Canada, a copy of which is available on
SEDAR at www.sedar.com.


Investors are cautioned that, except as disclosed in joint management
information circular of Mercury and Canada Coal dated January 23, 2012, any
information released or received with respect to the Amalgamation may not be
accurate or complete and should not be relied upon. Trading in the securities of
Canada Coal should be considered highly speculative. 


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION 

This news release includes certain "forward-looking information" under
applicable Canadian securities legislation. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future events to differ
materially from those expressed or implied by such forward-looking statements.
Such factors include, but are not limited to: general business, economic,
competitive, political and social uncertainties; delay or failure to receive
regulatory approvals; the price of mineral resources; and the results of current
exploration and testing. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. Canada Coal
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required by law.

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