Forbes & Manhattan Coal Corp.
TSX : FMC
JSE : FMC

Forbes & Manhattan Coal Corp.

August 08, 2011 07:00 ET

Forbes Coal Adds Experienced General Manager to Management Team

TORONTO, ONTARIO--(Marketwire - Aug. 8, 2011) - Forbes & Manhattan (Coal) Corp. (TSX:FMC)(JSE:FMC) ("Forbes Coal" or the "Company") is pleased to announce that Kevern Mattison has joined the Company as General Manager of its Slater Coal operations, based in Dundee, Kwazulu-Natal, South Africa, effective 1 August 2011.

"Mr. Mattison brings more than twenty years of coal mining experience to Forbes Coal. His project and mine management skills will be an asset to us as we continue ramping up operations at the Magdalena and Aviemore mines in order to reach our production goal of one million saleable tonnes in this fiscal year," said President and Chief Executive Officer Stephan Theron. "His appointment further strengthens the technical and strategic capabilities of our operational team."

Previously, Mr. Mattison was with Anglo American, where he started his coal mining career at its New Denmark Colliery in 1989. He progressed through the ranks and worked at most of the Anglo American Thermal Coal operations. Most recently Mr. Mattison was Manager Mining at Kleinkopje Colliery. Mr. Mattison has experience in both underground as well as opencast operations and has managed operations covering a wide spectrum of mining methods.

Mr. Mattison has a National Higher Diploma Coal Mining from Witswatersrand Technikon and a Bachelors of Technology from the University of Johannesburg.

About Forbes Coal

Forbes Coal is an emerging mid-tier southern African coal company. It holds a majority interest in two operating mines. The Company holds a 76.75% interest in Slater Coal (Pty) Ltd., a South African company ("Slater Coal") which has a 70% interest in Zinoju Coal (Pty) Ltd. ("Zinoju"). Zinoju holds a 100% interest in certain coal mines in South Africa (the "Slater Coal Properties"). The Slater Coal Properties comprise the operating Magdalena bituminous mine and the Aviemore anthracite mine. The mines have a substantial combined resource of coal and each mine has a projected 18 year life span. Forbes Coal is in the process of increasing production at both mines and looks to triple production from current levels in the next two to four years using existing infrastructure and capacity. The Company has in-place transportation infrastructure allowing its coal to reach both export corridors and the growing domestic coal market. Forbes Coal has a strong balance sheet and an experienced coal-focused management team.

Cautionary Notes

The ability of the Company to triple production amounts has not been the subject of a feasibility study and there is no certainty that the proposed expansion will be economically feasible.

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the anticipated production results with respect to the Slater Coal Properties, future financial or operating performance of the Company and its projects, statements regarding the prospects for the business of the Company, requirements for additional capital, government regulation of the mineral exploration industry, environmental risks, acquisition of mining licences, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, foreign operations, political and social uncertainties; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of a proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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