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SOURCE Coalspur Mines Limited
CALGARY, Feb. 28, 2013 /CNW/ - Coalspur Mines Limited ("Coalspur") (TSX: CPT), (ASX: CPL) is pleased to announce that Mr. Colin Gilligan has been appointed to the
position of Chief Operating Officer ("COO") of Coalspur effective April 1, 2013. Mr. Gilligan will be responsible
for the technical and operating aspects of Coalspur's 100% owned Vista
Coal Project ("Vista"). Together with Coalspur's recently appointed Vice President:
Operations, Mr. Gilligan will ensure the smooth development,
commissioning and operation of Vista.
Mr. Gilligan, who will be based out of the Company's Vancouver office,
brings 24 years of mining experience to Coalspur, having been involved
in the development and operation of major operations internationally.
In the near term Mr. Gilligan will be focused on expanding the owner's
team and finalising the contractor and execution strategy for Vista to
ensure the project can be delivered in line with schedule and budget.
Prior to this appointment, Mr. Gilligan served as the COO of Mitsui Coal
Holdings Pty Ltd. ("Mitsui") where he oversaw annual production of 12 million equity tonnes of
coal, from eleven joint venture operations. He was also responsible for
devising and executing a growth strategy through acquisitions, organic
expansions and investments.
Mr. Gilligan has extensive experience with contract mining execution and
strategy. Prior to Mitsui, Mr. Gilligan was Executive Manager -
Resources Development Group for Thiess Pty Ltd. In that role, Mr.
Gilligan was responsible for mining, new business and technical support
across the company's twelve mine sites which produced approximately 70
million tonnes per annum in Australia and Indonesia.
President and CEO, Gill Winckler commented "Colin's wealth of experience
in developing and operating mines will be of immense value to Coalspur
as we move into construction on Vista and prepare for production in
early 2015. His experience with contract mining operations, and focus
on capital efficiency and low cost operations, will stand us in good
stead as we progress with our project execution. I am looking forward
to working with Colin to position Vista as a high performing, low cost
export thermal coal mine."
Colin said: "I feel extremely fortunate to be joining the Coalspur team.
Vista is a world class asset and I am excited to be part of the
construction and operations team tasked with delivering this important
project."
Regulatory Disclosures
For further information regarding the Vista Coal Project and Vista
Extension, including a description of Coalspur's quality assurance
program, quality control measures, the geology, samples collected and
testing procedures in respect of the projects, please refer to the
technical report titled "Coalspur Mines Limited: Updated Resource
Estimate for the Vista Coal Project" dated September 12, 2012. For
further information regarding the Vista South Coal Project, including a
description of Coalspur's quality assurance program, quality control
measures, the geology, samples collected and testing procedures in
respect of the project, please refer to the technical report titled
"Resource Estimate for the Vista South Coal Property" dated June 25,
2012. The technical reports for the Vista Coal Project, the Vista South
Coal Project, and Vista Extension are compliant with National
Instrument 43-101 - "Standards of Disclosure for Mineral Projects" ("NI 43-101") and are available for review on SEDAR at sedar.com.
Competent Person / Qualified Person Statements
The information in this news release that relates to Coal Resources on
the Vista Coal Project and Vista Extension, mining engineering,
Recoverable Coal Reserves, capital costs, mining operating costs, and
economic financial analysis, process capital costs and associated
infrastructure, and all other scientific and technical information in
this Report is based on information compiled by Mr. David Leslie, who
is a Member of the Association of Professional Engineers and
Geoscientists of Alberta. Mr. Leslie is a full-time employee of
Coalspur. Mr. Leslie has sufficient experience which is relevant to
the style of mineralisation and type of deposit under consideration and
to the activity he is undertaking to qualify as a "Competent Person" as
defined in the 2004 Edition of the 'Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves' ("JORC Code"), and a "Qualified Person" under NI 43-101. Mr. Leslie has approved
and consents to the inclusion of such information in this news release
in the form and context in which it appears.
The information in this news release that relates to coal quality and
process yield estimates to derive Marketable Coal Reserves is based on
information compiled by Mr. Gordon Mudryk, who is a Member of the
Association of Professional Engineers, Geologists and Geophysicists of
Alberta. Mr. Mudryk is a full-time employee of Coalspur. Mr. Mudryk has
sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity he is
undertaking to qualify as a "Competent Person" as defined in the 2004
Edition of the JORC Code, and a "Qualified Person" under NI 43-101. Mr.
Mudryk has approved and consents to the inclusion of such information
in this news release in the form and context in which it appears.
The information in this news release that relates to Coal Resources on
Vista South is based on information compiled by Mr. John Innis, who is
a Member of the Association of Professional Engineers, Geologists and
Geophysicists of Alberta. Mr. Innis is a full-time employee of
Coalspur. Mr. Innis has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and to
the activity he is undertaking to qualify as a "Competent Person" as
defined in the 2004 Edition of the JORC Code, and a "Qualified Person"
under NI 43-101. Mr. Innis has approved and consents to the inclusion
of such information in this news release in the form and context in
which it appears.
Forward Looking Statements
This news release contains forward-looking statements concerning
Coalspur, including statements regarding Coalspur's plans for its
mineral projects, development plans and timing, development and
operating costs, production, regulatory approvals, exploration and
development activities, and other matters. These statements relate to
analyses and other information that is based on forecasts of future
results, estimates of amounts not yet determinable and assumptions of
management. Actual results could differ materially from the
conclusions, forecasts and projections contained in these
forward-looking statements.
Statements concerning Mineral Resource Estimates may also be deemed to
constitute "forward-looking statements" to the extent that they involve
estimates of the mineralization that will be encountered if a given
property is developed. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance
(often, but not always, using words or phrases such as "expects", "is
expected", "anticipates", "plans", "projects", "estimates", "assumes",
"intends", "strategy", "goals", "objectives", "potential" or variations
thereof or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved, or
the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements.
Forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors that could cause actual
events or results to materially differ from those reflected in the
forward-looking statements, including those referred to in the
Company's Annual Information under the heading "Description of the
Business - Risk Factors", and elsewhere.
Coalspur's forward-looking statements are based on the beliefs,
expectations and opinions of management as of the date hereof and which
Coalspur believes are reasonable in the circumstances, but no assurance
can be given that these expectations will prove to be correct. In
making the forward-looking statements the Company has applied several
material assumptions which may prove to be incorrect, including, but
not limited to: (1) that all required third party approvals will be
obtained for the development, construction and production of its
properties; (2) that additional financing will be available on
reasonable terms; (3) there being no significant disruptions affecting
operations, whether due to labour disruptions, supply disruptions,
power disruptions, damage to equipment or otherwise; (4) permitting,
development and expansion proceeding on a basis consistent with the
Company's current expectations; (5) currency exchange rates being
approximately consistent with current levels; (6) certain price
assumptions for coal; (7) production forecasts meeting expectations;
(8) the accuracy of the Company's current mineral resource and reserve
estimates; (9) labour and materials costs increasing on a basis
consistent with the Company's current expectations; and (10)
assumptions made and judgments used in engineering and geological
interpretation.
Coalspur disclaims any intention or obligation to update or revise
forward-looking statements if circumstances or management's beliefs,
expectations or opinions should change, except as required by law. For
the reasons set forth above, undue reliance should not be placed on
forward-looking statements.
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