Last updated on April 19, 2014 at 13:20 EDT

Vista project regulatory update

August 15, 2013

VANCOUVER, Aug. 15, 2013 /CNW/ – Coalspur Mines Limited (“Coalspur” or “Company”) (ASX: CPL, TSX: CPT) is able to report further progress on its application for regulatory
approval of the Vista project (“Vista”) in Alberta, Canada.  Coalspur
has received a formal notice of hearing from the Alberta Energy
Regulator (the “AER”), which effectively confirms that Vista is in the
final stages of the application review process. Coalspur expects this
to be the final step prior to the AER issuing the licences necessary
for the development of Vista.

The AER has been able to issue this notice because all technical and
environmental matters pertaining to Vista have been satisfactorily
dealt with. Following a final review in late September, the AER will
decide whether a hearing will be set down to resolve any outstanding
concerns. The Company is actively engaged with the AER to complete the
application process under the new regulations, which have been in
effect since 17 June 2013.

Coalspur has undertaken extensive stakeholder engagement over the last
two years with all parties that could be impacted by Vista. As a result
of this engagement, there is strong community support for Vista, and
the Company has reached agreement with a number of potentially impacted
parties and been able to reduce the Statements of Concern (“SOC”)
lodged with the AER down to seven active SOCs. Coalspur continues to
engage with parties that it believes may be legitimately impacted by
Vista and is confident that its discussions will be concluded within
the timeframe stipulated by the AER.

Coalspur also notes that Canadian National Railway Company (“CN”) has
received final approval from the Canadian Transportation Agency for
construction of the planned rail line which will provide CN with access
to Vista’s loading site.

Coalspur’s President and CEO, Gill Winckler commented: “This
notification from the AER confirms that the regulatory process for
Vista is now in its final stages. We are working with the AER and their
revised approval process and hope to resolve the outstanding issues in
a timely manner. We are disappointed that construction on Vista will
not be able to commence in September 2013 as previously expected,
however, our development schedule includes numerous contingencies which
will allow us to maintain the capital budget and achieve first
production from Vista in mid-2015 as planned, assuming that we begin
construction later this year.”

No regulatory authority has approved or disapproved of the information
contained in this release.

This release contains forward-looking information concerning Coalspur. 
All statements in this release, other than statements of historical
facts, that address events or developments that the Company expects to
occur, are statements of forward-looking information.  Although the
Company believes that such forward-looking information is based on
reasonable assumptions, such information is not a guarantee of future
performance and actual results or developments may differ materially
from the forward-looking information.  Factors that could cause actual
results to differ materially from the forward-looking information,
include but are not limited to: risks associated with funding
requirements for Vista development; fluctuations in coal prices;
uncertainties related to the availability of future financing; risks
related to Coalspur’s existing credit facility, risks associated with
take or pay commitments with Ridley Terminals, risks associated with
the need for governmental licences, permits and approvals,
uncertainties related to aboriginal rights claims and multiple mineral
development, and uncertainties related to general economic, market and
business conditions.  For more information on Coalspur, investors
should review Coalspur’s continuous disclosure filings that are
available at www.sedar.com and www.asx.com.au.

SOURCE Coalspur Mines Limited

Source: PR Newswire