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Last updated on April 19, 2014 at 8:45 EDT

Corsa Announces First Quarter Sales and Increases 2013 Sales Guidance

March 12, 2013

TORONTO, March 12, 2013 /PRNewswire/ – Corsa Coal Corp. (TSXV: CSO) (“Corsa” or
the “Company”) is pleased to announce that during the first quarter of
fiscal 2013 the Company sold 36,000 tons of clean metallurgical coal
and 10,000 tons of raw metallurgical coal. As well, the Company sold
33,000 tons of thermal coal during the quarter.

In addition, the Company announced that it has entered into contracts or
received purchase orders for the sale of an additional 96,000 tons of
metallurgical coal increasing its published contracted sales guidance
for 2013 from 170,000 tons to 266,000 tons of which it expects to ship
250,000 tons in fiscal 2013. The Company continues to actively market
its high quality low volatile metallurgical coal and is in discussions
with domestic and international buyers. The Company continues to match
production to actual sales and does not have unnecessary inventories of
unsold coal. While the Company remains optimistic that further sales
will be achieved, it only reports future sales guidance based on
currently contracted volumes. The Company has continued to be
successful in achieving sales as a result of the superior quality of
its low volatile met coal product.

Caution

The estimated coal production, purchases, sales and processing of coal
disclosed in this press release are considered to be forward looking
information. Readers are cautioned that actual results may vary from
this forward looking information. There can be no assurance as to when
or if the required permits will be issued. Actual production, sales,
shipments, purchases, total cash costs and sales and processing costs
are subject to variation based on a number of risks and other factors
referred to under the heading “Forward-Looking Statements” as well as
actual demand and sales orders received. Costs will be impacted by
production levels actually achieved.

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 2013 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 or
expected; 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 with 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 where
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