Grande Cache Coal Corporation
TSX : GCE

Grande Cache Coal Corporation

June 29, 2011 17:00 ET

Grande Cache Coal Corporation Announces Filing of Annual Information Form and Updated Independent Technical Report Supporting A Significant Increase in Coal Resources and Reserves

CALGARY, ALBERTA--(Marketwire - June 29, 2011) - Grande Cache Coal Corporation (TSX:GCE) ("Grande Cache Coal") announced today that it has filed its annual information form for the fiscal year ended March 31, 2011 with Canadian security regulatory authorities along with an updated independent technical report prepared by AMEC Americas Limited ("AMEC") estimating the coal resources and reserves of Grande Cache Coal in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

The updated technical report includes the results of recent drilling activity in the No. 8, No. 2, and No. 12 surface pit areas. Also included in the report is a recent comprehensive review of the property-wide geological information, the structural models, as well as new pit designs in the No. 2 and No. 12 North areas and updated pit designs for the No. 8, No. 12 South A and No. 16 areas which represent new information since the date of the previous technical report prepared by AMEC dated May 26, 2010.

The culmination of these changes has resulted in a 45.5% increase in the Measured, Indicated and Inferred In-place Coal Resources to 346.0 million tonnes and a 76.7% increase in Proven and Probable Saleable Coal Reserves to 97.5 million tonnes. The majority of the change in the Proven and Probable Saleable Coal Reserves is due to the conversion of resources to reserves in the No. 12 North surface area and the addition of the newly modeled and designed No. 2 surface pit.

"The increase in our saleable coal reserves is significant to our company. We now have a reserve base large enough to support a 35 year mine plan which will underpin the long term future of our company" stated Robert Stan, President and Chief Executive Officer of Grande Cache Coal.

Copies of the foregoing continuous disclosure documents are available at www.sedar.com and Grande Cache Coal's website at www.gccoal.com.

Grande Cache Coal is an Alberta based metallurgical coal mining company whose experienced team of coal professionals are managing a mine that produces metallurgical coal for the steel industry and holds coal leases covering over 22,000 hectares in the Smoky River Coalfield located in west-central Alberta. Grande Cache Coal's common shares are listed on the Toronto Stock Exchange under the trading symbol "GCE".

This news release contains forward-looking statements, which are based on Grande Cache Coal's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. The forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them. Actual results may differ materially as a result of any number of factors and uncertainties, many of which factors are beyond the Corporation's control. Many of these risks and uncertainties are described in Grande Cache Coal's 2011 annual information form, Grande Cache Coal's management's discussion and analysis and other documents Grande Cache Coal files with the Canadian securities authorities. Grande Cache Coal undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Grande Cache Coal Corporation
    Ian Bootle
    Vice President, Finance and Chief Financial Officer
    (403) 543-7070

    Grande Cache Coal Corporation
    Suite 1600, 800 - 5th Avenue S.W.
    Calgary, Alberta T2P 3T6
    Canada
    (403) 543-7092 (FAX)
    www.gccoal.com