CanAm Coal Corp.

CanAm Coal Corp.

November 23, 2010 09:01 ET

CanAm Adds New Board Member

CALGARY, ALBERTA--(Marketwire - Nov. 23, 2010) - CanAm Coal Corp. (TSX VENTURE:COE) ("CanAm" or the "Company") is pleased to announce the appointment of Robert Power to the Board of Directors.

Mr. Power is a senior corporate executive and an experienced corporate director who brings a broad range of experience in energy, environment, law and business. Mr. Power is currently the Executive Chairman of Wescorp Energy Inc (OTCBB: WSCE), a clean water technology company, and has served on several public company boards in the resource sector. He recently completed a 5 year term as Co-Chair of the National Energy Group of Blake Cassels and Graydon LLP ("Blakes"). Blakes is one of Canada's oldest, largest and most successful international law firms. Prior to leaving law, Mr. Power was ranked by the international periodical, Chambers Global in the number 1 tier of lawyers internationally, and is described as "an extraordinary manager and deal maker; he provides a brilliant mixture of business and legal advice". Annually, Mr. Power was recognized in The Lexpert/ American Lawyer Guide to the Leading 500 Lawyers in Canada. Prior to joining Blakes, he founded and led his own law and consulting firm, chaired Canada's largest foundation, the Ontario Trillium Foundation, and served in leadership roles in both the international ISO and national CSA environmental standards development processes.

"We are extremely pleased to have Robert join our team. He brings significant skills and experience to our Board and, in particular his deal making, mergers & acquisitions, legal and international background and experience will be an important asset to the company as CanAm continues to evolve into an operating coal company and looks to grow both organically and through acquisition" said Jonathan Legg, Chairman of the Board.

Mr. Power has been issued 200,000 stock options with an exercise price of $0.15. The Company has also granted 400,000 options to officers with an exercise price of $0.15. The options, issued in accordance with CanAm's stock option plan, are valid for 5 years and vest as to 1/6 of the options issued at the end of each successive three month period from the date of issuance such that the options are fully vested 18 months from the date of issuance. The grant of options is subject to regulatory approval.

"Since August of this year, CanAm has added significant skill and experience to the Company; two experienced board members and a new President, and with the acquisition of the additional 49% ownership stake in RAC Mining LLC, we are now well positioned to continue to expand our operations in the US. We believe that excellent opportunities still exist in the Appalachia region of the US, and in particular Alabama, and we will actively pursue those that add production and reserves to our coal portfolio" said Tim Bergen, Chief Executive Officer of CanAm. 

About CanAm Coal Corp.

CanAm is a coal producing and development company focused on growth through the acquisition, exploration and development of coal resources and resource-related technologies. CanAm's main activities and assets include its 49% owned Alabama coal mine operations, the exclusive rights to a proprietary Coal to Liquids technology which converts coal into liquid fuels (such as oil, jet fuel) at an economical cost with zero airborne emissions and the Buick Coal Project which holds significant coal resources, 188 million tons of indicated and 103 million tons of inferred coal resources, in Colorado, USA (see the technical report entitled "Limon Lignite Project, Elbert County, Colorado, USA," dated October 26, 2007 and filed on SEDAR on November 2, 2007). Other coal and related opportunities continue to be evaluated on an ongoing basis.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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

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