SOURCE: Waratah Coal Inc.

October 05, 2007 17:56 ET

Waratah Appoints New Director

BRISBON, AUSTRALIA and VANCOUVER, BC--(Marketwire - October 5, 2007) - Waratah Coal Inc (TSX-V: WCI) today announced that Shaun Maskerine has been appointed to the board of directors. Mr. Maskerine is currently Corporate Secretary of Waratah and is VP, Investment Banking for Longview Capital Partners, which is a significant shareholder of Waratah's shares. Mr. Maskerine has been appointed at the request of Damien Reynolds, who is resigning from the Waratah board along with numerous other directorships.

Longview Capital Partners was an initial investor in Waratah privately and assisted with its going-public transaction and concurrent financing. Longview continues to give its full support to Waratah as it continues to develop its substantial thermal coal assets in the Galilee Basin, Australia.

Mr. Peter Lynch noted, "I thank Damien for his considerable efforts in launching the company and look forward to working even closer with Shaun as we realise value on our 1.7 billion-tonne inferred coal resource in the Galilee Basin."

Waratah Coal is developing multiple coal projects in Australia, one of the world's largest exporters of coal. Waratah has just announced a total of 1.73 billion tonnes of thermal coal resources in the inferred category at its South Alpha and North Alpha projects. The Company is also exploring for high-value metallurgical coal in compact, low tonnage deposits which could be quickly advanced to a production decision.

The Qualified Person for the Galilee Basin inferred coal resources is Mr. Patrick Hanna, Fellow of the AusIMM and Principal Coal Geology Consultant with SRK Consulting, who authored both estimates in August and September 2007 -- see WCI releases dated Sept 10th and Sept 19th.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information:

    Peter Lynch
    Waratah Coal President and CEO
    T: +61 7 3303 0692
    E-mail: Email Contact

    Henry Wright
    T: 604 681 5755
    E-mail: Email Contact