SOURCE: Lotta Coal Inc.

March 30, 2007 16:30 ET

Lotta Coal Announces Major Option on P & NG Rights as New Focus for Subsidiary Great Bear Explorations Inc.

CALGARY, AB -- (MARKET WIRE) -- March 30, 2007 -- Lotta Coal, Inc (PINKSHEETS: LCOL) today announced on behalf of its subsidiary Great Bear Explorations Inc. ("GBX"), that GBX has acquired an option on an interest in a substantial property in Northern Alberta, comprising in excess of 62,000 acres. Details of the property and the agreement currently being negotiated will be announced as details are formalized. In the meantime, to free up resources to proceed with development of this property, and the Company's Boyer and Swan River projects, GBX has relinquished its agreements with Woodland Cree Energy and Woodland Cree Explorations. "The Woodland property is technically complex, and ultimately was considered 'non-core' by the GBX Board. The property currently under negotiation is believed to be a better fit with the Company's other properties, and is expected to yield a better return on investment," said Company President Mr. Nicolas Matossian.

By mutual agreement between the parties, monies paid to date in connection with the Woodland agreements will be refunded to the Company, which intends to utilize them to proceed with its new project, and further development of its Boyer and Swan River properties.

About Lotta Coal

Lotta Coal Inc. is a unique oil and gas company with three separate wholly owned operating subsidiaries, each with rights to explore and develop oil and gas resources in partnership with different First Nations commercial entities in Northern Alberta, Canada. The Company is publicly traded on the over-the-counter market under the Ticker symbol: LCOL.

The Company has been able to assemble over 66,057 acres (105 square miles) of land, all with a 100% interest. It successfully drilled seven wells and re-entered a further well in the Boyer field, and is preparing engineering for tie-in to infrastructure. Over $3,400,000 has been invested since September 2006 on drilling and acquisition activities, including a successful shallow gas drilling program that produced seven out of seven wells to be put into production.

Important Information About Forward-Looking Statement

Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company's website does not constitute a part of this release.

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