Cline Mining Corporation

Cline Mining Corporation

July 15, 2014 09:51 ET

Cline Receives Extension of Forbearance Agreements

TORONTO, ONTARIO--(Marketwired - July 15, 2014) - Cline Mining Corporation ("Cline" or the "Company") announced today that it has received extensions of the forbearance agreements ("Forbearance Extensions") previously entered into with Computershare Trust Company of Canada, the trustee in respect of Cline's US$65.5 million 10% senior secured bonds and its CDN$12.3 million 10% senior secured convertible bonds. The Forbearance Extensions will remain in effect until the earlier of (i) August 29, 2014 and (ii) the occurrence of a Forbearance Termination Event (as such term is defined in the forbearance agreements).

About Cline

Cline is a Canadian mining company whose primary asset is its 100% owned New Elk coking coal mine located in Trinidad, Colorado. The Company also has interests in an iron ore project in Madagascar, and the Cline Lake gold property in northern Ontario, Canada. Cline's head office is in Toronto and it has a site office at the New Elk mine in Colorado.

For further details on Cline, please refer to Cline's web site (www.clinemining.com) and Cline's Canadian regulatory filings on SEDAR at www.sedar.com.

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