SOURCE: New Colombia Resources, Inc.

January 07, 2014 06:30 ET

New Colombia Resources Inc. Announces Approval of the Work Plan for Their Metallurgical Coal Mine by the National Mining Agency (ANM) of Colombia

Company President Will Speak at the International Coal Conference of the Americas

SUNNY ISLES BEACH, FL--(Marketwired - Jan 7, 2014) -  New Colombia Resources, Inc. (OTCQB: NEWC) ("New Colombia or the Company") is pleased to announce the approval of their PTO, Plan de Trabajo y Obras (Work Plan) by the Agencia Nacional de Mineria (ANM). Concession Contract ILE-09551, the Resolution is posted on the ANM's website, see Expediente ILE-09551 at http://www.anm.gov.co/sites/default/files/atencion_minero/estado_151_23_de_diciembre_de_2013-bogota.pdf

New Colombia believes approval of the Work Plan will greatly increase the interest in the company. They have been taking all of the necessary steps to be in production as soon as possible by working closely with the local environmental authority for approval of their environmental permits. The company will submit the permit application for extraction of raw building materials in the next few weeks. Upon acceptance of the application, New Colombia can begin extraction of building materials. The Company will also submit their application for the environmental permit for coal production. The approval of the work plan accelerates this process.

New Colombia Resources signed a term sheet for financing that they expect to close within the next few days. The Company is also in talks with major international coal and energy companies interested in entering the Colombian coal sector.

The Company believes they can have approval of the coal environmental permit in Q1 and expects to generate revenue within the first half of Q1. The cash flow generated from the raw building materials allows them to finance their coal operations on better terms. New Colombia will hire drillers to implement a drill plan they completed last year, these results will be used to finish the N.I. 43-101 Technical Report.

New Colombia is pleased to announce that John Campo will be a guest speaker at the IHS McCloskey 21st Annual Coal Conference of the Americas to be held in Cartagena, Colombia on March 13-14. This conference will be attended by the Minister of Mines and Energy, coal buyers, mining executives, and energy investors from all over the world. IHS is the leading provider of diverse global market and economic information. For a list of distinguished speakers visit http://www.ihs.com/events/ihs/coal-americas-mar-2014.aspx

"The approval of the work permit by the ANM is a huge step forward in our efforts to begin coal production. To my knowledge, we'll be the only international junior exploration company at the coal conference that took a mining contract from solicitation to a work plan approved concession in these market conditions. I'm very confident we're making the right contacts to develop over 4000 ha of mostly metallurgical coal available to us," stated John Campo, President of New Colombia Resources.

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About New Colombia Resources, Inc.

New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have three revenue producing businesses; metallurgical coal mining, African palm distribution, and traditional and organic coffees. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 MM tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. In October 2013 they are planting 2000 African palm trees for the production of bio-diesel in Colombia and they are acquiring an organic coffee company. Once the necessary financing is obtained, the Company plans to have additional revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia. The Company is also exploring allegiances with U.S. and Colombian universities to study capturing Coal Bed Methane (CBM) in Colombia. For more information on the Company visit www.newcolombiaresources.com

Transportation, Logistics and Other Information

New Colombia Resources intends to sell their coal at the mine's gate unless they enter into off-take agreements. At the right time, the Company plans to build or acquire river or rail loading facilities on the Magdalena River close to their mines. The coal will be trucked to these distribution centers, and then barged via the Magdalena River or by rail to terminals in Barranquilla, Santa Marta, or Cartagena for export. Initially they will use existing logistics providers while their transportation projects are being developed. After the rail projects and the "Road to the Sun" project are completed, New Colombia Resources will have one of a few metallurgical coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.

Forward Looking Statements

Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

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