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Waratah Coal Wins Explorer of the Year Award

October 30, 2008

Waratah Coal (TSX VENTURE: WCI) (Waratah) has been named Queensland Explorer of the Year at the Mining 2008 conference in Brisbane.

Waratah CEO and President Peter Lynch and Company Chairman Nick Mather accepted the award last night in Brisbane, from the Deputy Director General of the Queensland Department of Mines and Energy, Stuart Booker.

Figure 1: Mr Stuart Booker, Mr Peter Lynch, Mr Stewart McDonald (Mining 2008) & Mr Nick Mather (L to R)

To view Figure 1, please visit the Waratah Coal website: www.waratahcoal.com.

Mr Lynch said it was a great honour for Waratah to be acknowledged by the Queensland mining sector.

“For a relatively young Company like Waratah to receive this award is a tremendous recognition of our accomplishments,” he said.

“Waratah has secured a world-class thermal coal resource in the Galilee Basin in Central Queensland as well as a suite of other coal exploration tenements.”

The Company this year announced plans for a $5.3 billion coal project.

Waratah plans to open up the Galilee Basin, a currently undeveloped thermal coal province near the town of Alpha, in Central Queensland. Waratah’s exploration to date has delineated more than four billion tonnes of Inferred thermal coal Resources.

The proposed large scale mine would be linked to a new coal terminal on the Central Queensland coast by a railway line which would be open to third party users and free up costly bottlenecks already inhibiting Australia’s coal industry.

Waratah’s Galilee Basin Project has been declared a significant project by the Queensland Government.

Brisbane-based Waratah is listed on the Toronto Stock Exchange (TSX) in Canada and a dual listing on the Australian Stock Exchange (ASX) is due on the 7th November, 2008.

Waratah’s senior management all have long, established careers working for some of Australia’s largest resources companies.

This press release does not constitute an offer to sell or a solicitation to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (“the U.S. Securities Act”) or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary language:

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of Waratah Coal’s internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Waratah Coal. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Waratah Coal’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, among other things, those described in Waratah Coal’s filings with the Canadian securities authorities. Accordingly, holders of Waratah Coal shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Waratah Coal disclaims any responsibility to update these forward-looking statements.

 Contacts: Waratah Coal Inc. Peter Lynch President and CEO +61 7 3303 0692 Email: plynch@waratahcoal.com  Waratah Coal Inc. Liam Behnke Investor Relations - Australia +61 7 3303 0676 Email: lbehnke@waratahcoal.com Website: www.waratahcoal.com

SOURCE: Waratah Coal Inc.




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