Last updated on April 24, 2014 at 17:35 EDT

Corsa Increases Fourth Quarter Guidance

November 12, 2012

TORONTO, Nov. 12, 2012 /PRNewswire/ – Corsa Coal Corp. (TSXV: CSO) (“Corsa” or
the “Company”) announces an increase to its fourth quarter guidance.
Based on new sales contracts, the Company now expects to ship
approximately 75,000 tons in the calendar fourth quarter of which it
expects 55,000 tons to be taken into sales in its fiscal fourth quarter
and the remainder to fall into next fiscal year sales. The Company had
previously given guidance that it expected to ship 32,000 tons of met
coal in its fiscal fourth quarter. As a result, the Casselman mine,
temporarily idled in mid-October, has recommenced full operations
together with its coal preparation plant. The Company has continued to
be successful in achieving sales as a result of the superior quality of
its low volatile met coal product. The Company continues to actively
market its 2013 production and will continue to match its production to
actual sales.

Information about Corsa

Corsa’s main operating subsidiaries are Wilson Creek Energy LLC and
Maryland Energy Resources LLC based in Somerset County, Pennsylvania. 
Its primary business is the mining, processing and selling of
metallurgical coal, as well as actively exploring,   acquiring   and  
developing   resource   properties consistent with its coal business.

Forward-Looking Statements

Certain information set forth in this press release contains
“forward-looking statements” and “forward-looking information” under
applicable securities laws. Except for statements of historical fact,
certain information contained herein constitutes forward-looking
statements which include management’s assessment of future plans and
operations and are based on current internal expectations, estimates,
projections, assumptions and beliefs, which may prove to be incorrect.
Some of the forward-looking statements may be identified by words such
as “estimates”, “expects” “anticipates”, “believes”, “projects”,
“plans”, “outlook”, “capacity” and similar expressions. These
statements are not guarantees of future performance and undue reliance
should not be placed on them. Such forward-looking statements
necessarily involve known and unknown risks and uncertainties, which
may cause the Company’s actual performance and financial results in
future periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, but are not limited
to: risks that the actual production or sales for the fourth quarter of
2012 and 2012 fiscal year will be less than projected production or
sales for these periods; risks that the prices for coal sales will be
less than projected; liabilities inherent in coal mine development and
production including restarting idled mines; geological, mining and
processing technical problems; inability to obtain required mine
licenses, mine permits and regulatory approvals or renewals required in
connection with the mining and processing of coal; risks that the
Company’s coal preparation plant will not operate at production
capacity during the relevant period, unexpected changes in coal quality
and specification; variations in the coal mine or coal preparation
plant recovery rates; dependence on third party coal transportation
systems; competition for, among other things, capital, acquisitions of
reserves, undeveloped lands and skilled personnel; incorrect
assessments of the value of acquisitions; changes in commodity prices
and exchange rates; changes in the regulations in respect to the use,
mining and processing of coal; changes in regulations on refuse
disposal; the effects of competition and pricing pressures in the coal
market; the oversupply of, or lack of demand for, coal; inability of
management to secure coal sales or third party purchase contracts;
currency and interest rate fluctuations; various events which could
disrupt operations and/or the transportation of coal products,
including labour stoppages and severe weather conditions; the demand
for and availability of rail, port and other transportation services;
the ability to purchase third party coal for processing and delivery
under purchase agreements; and management’s ability to anticipate and
manage the foregoing factors and risks. The forward-looking statements
and information contained in this press release are based on certain
assumptions regarding, among other things, future prices for coal;
future currency and exchange rates; the Company’s ability to generate
sufficient cash flow from operations and access capital markets to meet
its future obligations; the regulatory framework representing
royalties, taxes and environmental matters in the countries in which
the Company conducts business; coal production levels; and the
Company’s ability to retain qualified staff and equipment in a
cost-efficient manner to meet its demand. There can be no assurance
that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. The reader is cautioned not to place
undue reliance on forward-looking statements. The Company does not
undertake to update any of the forward-looking statements contained in
this press release unless required by law. The statements as to the
Company’s capacity to produce coal are no assurance that it will
achieve these levels of production or that it will be able to achieve
these sales levels.

The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.  Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.

SOURCE Corsa Coal Corp.

Source: PR Newswire