ECX Eastcoal

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES


EastCoal Inc. (TSX VENTURE:ECX)(AIM:ECX) (the "Company" or "EastCoal"),
announces that the Company has issued 88,271 common shares ("New Shares") as
full settlement for CAN$17,095.89 of accrued interest due pursuant to the terms
of a CAN$2,000,000 loan (the "Loan") provided by Salida Capital LP ("Salida"),
(on behalf of a fund managed by Salida), to the Company. The New Shares are to
be issued at a deemed conversion price of GBP 0.1221 pence per common share.


Application has been made for admission of the New Shares to trading on AIM and
it is expected that trading in the New Shares will commence on AIM on 4 January
2013.


As set out in the Company's Admission Document, dated 21 December 2012, Salida
(on behalf of a fund managed by Salida) had agreed to convert the Loan, together
with any accrued but unpaid interest, into common shares upon EastCoal's
admission to AIM. In accordance with this, on 28 December 2012, the Loan was
settled in full through the issuance of 10,326,577 common shares of the Company.


Following admission of the New Shares, the Company will have 325,657,188 common
shares in issue, which will represent the total number of voting rights in the
Company. This figure should be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.


FOR FURTHER INFORMATION PLEASE CONTACT: 
EastCoal Inc.
Abraham Jonker
President
+1 (604) 681-8069


EastCoal Inc.
George Lawton
CFO
+1 (604) 681-8069
+1 (604) 210-4502 (FAX)
www.eastcoal.ca


Cenkos Securities plc
Ken Fleming/Alan Stewart/Derrick Lee
+44 (0) 131 220 6939


Tavistock Communications`
Jos Simson/Emily Fenton/Mike Bartlett
+44 (0) 207 920 3150

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