CALGARY, Sept. 9 /PRNewswire-FirstCall/ - (GCE-TSX) - Grande Cache Coal
Corporation ("Grande Cache" or the "Company") is pleased to announce that
Alberta Energy has granted it a coal lease covering the lands containing the
coal conveyor tunnelway. The tunnelway is an underground passage that houses a
conveyor system owned by the Company which historically has been used to
transport run-of-mine coal to the Company's processing facilities. The Company
will promptly undertake a review of the tunnelway to determine the capital
requirements to refurbish the underground passage and the existing conveyor
system.
"The Company is extremely pleased that it has been able to obtain this
coal lease that allows us the option of refurbishing the tunnelway and the
conveyor system. The potential to reduce our operating costs through the
elimination of significant truck haulage requirements exists and we will be
initiating a detailed review of the refurbishment requirements immediately"
said Robert Stan, Grande Cache's President and Chief Executive Officer.
Grande Cache is an Alberta based metallurgical coal mining company whose
experienced team of coal professionals are developing a long-term mining
operation to produce metallurgical coal for the export market from Grande
Cache's coal leases covering over 15,000 hectares in the Smoky River Coalfield
located in west-central Alberta. Grande Cache's common shares are listed on
the Toronto Stock Exchange under the trading symbol "GCE".
This news release contains forward-looking statements. 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 Company's control. The forward-looking statements speak only as of
the date hereof, and the Company undertakes no obligation to update these
statements to reflect subsequent changes in assumptions, the factors
underlying them or actual events or experience.
The Toronto Stock Exchange has neither approved nor disapproved
the information contained herein.
SOURCE Grande Cache Coal Corporation
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CONTACT:
Robert H. Stan, President and Chief Executive
Officer or Thomas E. Pierce, Vice President, Finance and Chief
Financial Officer, Grande Cache Coal Corporation, Suite 250, 703
- 6th Avenue S.W., Calgary, Alberta T2P 0T9, Canada, Telephone:
(403) 543-7070, Facsimile: (403) 543-7092
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