Waratah Coal Inc.
TSX VENTURE : WCI

Waratah Coal Inc.

March 14, 2008 18:08 ET

Waratah Coal Inc. Announces Increase to Brokered Private Placement

BRISBANE, AUSTRALIA and VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2008) - Waratah Coal Inc. ("Waratah" or the "Company") (TSX VENTURE:WCI) announces that it has increased the size of the private placement previously announced in the press release of the company dated March 13, 2008 to offer for sale an additional 4,761,905 units of the Company ("Units") bringing the total number of Units to be offered for sale to 12,698,413 (the "Offering"). The Units will be offered for sale at a price of CAD$3.15 per Unit for aggregate gross proceeds of CAD$40,000,000.95. Each Unit consists of one common share of the Company (a "Share") and on-half of one purchase warrant ("Warrant"). Each whole warrant will entitle the holder to purchase one Share at an exercise price of $4.50 for a period of 24 months from the date of closing the Offering. All terms and conditions previously announced in the press release of the Company dated March 13, 2008 remain the same.

About Waratah

Waratah's strategy is to build shareholder value, through acquisition, exploration and development of coal projects in Australia. This strategy is being developed by a synthesis of Waratah's core skills in project evaluation, structured acquisition, exploration and project development and operations, an area where Waratah executives have significant experience. Seven coal projects have already been acquired, with more in application, and drilling programs well underway at Waratah's South Alpha project and Nymboida project. Recent drilling confirmed the presence of premium quality coking coal at the Nymboida Project and extensive coal seams in the Galilee Basin.

Waratah has approximately 40 million shares outstanding, has approximately CAD$5.5 million in cash and no debt.

On behalf of the Board of Directors,

Peter Lynch, President, Chief Executive Officer and Director

This press release does not constitute an offer to sell or a solicitation to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("the U.S. Securities Act") or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary language:

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Waratah Coal's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Waratah Coal. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Waratah Coal's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Waratah Coal's filings with the Canadian securities authorities. Accordingly, holders of Waratah Coal shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Waratah Coal disclaims any responsibility to update these forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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