Coalspur Mines Limited

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce it has substantially increased the Vista South Coal Project ("Vista South") Measured and Indicated Coal Resources to 470.5 million tonnes ("Mt") and upgraded the Inferred Coal Resource to 604.5Mt, following a recent drilling program.

The Board of Directors of Coalspur Mines Limited (ASX:CPL) present their report on the consolidated entity of Coalspur Mines Limited ("Coalspur" or "Company") and the entities it controlled during the three months and nine months ended March 31, 2012 ("Consolidated Entity").

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce an initial Coal Resource estimate on the recently acquired11 Vista Extension, comprising 173.7 million tonnes ("Mt") in the Measured and Indicated Mineral Resource categories and 969.3Mt in the Inferred Mineral Resource category. This significantly increases the Company's total Measured and Indicated Coal Resource by 15% to 1,322.9Mt and the Inferred Coal Resource by 181% to 1,505.2Mt across the Vista Coal Project ("Vista"), Vista South Coal Project ("Vista South") and Vista Extension.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that it has filed the regulatory applications for Phase 1 of the Company's flagship Vista Coal Project ("Vista"). These applications include an Environmental Impact Assessment ("EIA"), regulatory applications under the Coal Conservation Act, Alberta Environmental Enhancement Act ("EPEA"), Water Act, and Public Lands Act.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce the acquisition of 14,432 hectares of coal bearing leases ("Vista Extension") which are contiguous with the Company's Vista Coal Project ("Vista") for C$13 million in cash. Vista Extension is located on the northeast boundary of Vista and is in a land use area classified as category four which is the most favourable for resource development in Alberta. A portion of Vista Extension includes 5.1 million tonnes of surface mineable coal which was included in the Recoverable Coal Reserves estimated in the recently completed feasibility study on Vista.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that the annual marketable coal production capacity from the Vista Coal Project ("Vista") has increased by 7% to 12.0 million tonnes per annum ("Mtpa"). The increased production rate is the result of an optimization study on the coal processing plant ("CPP") and mine scheduling and follows a feasibility study on Vista which was published on January 30, 2012.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) advises that following the successful release of the Feasibility Study relating to its Vista Coal Project ("Vista"), the Company has continued the process, commenced in December 2011, to identify potential strategic investment partners which may provide future funding for the development of Vista and coal marketing arrangements (the "Process").

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that it has reached a second agreement with Ridley Terminals Inc. ("Ridley Terminals") on terms for the shipment of export thermal coal from Coalspur's Vista Coal Project ("Vista") for an additional 5.0Mtpa. Subject to requisite Government approvals for the addition of a fourth stacker / reclaimer at Ridley Terminals, the second agreement provides for 4.0Mtpa to be supplied from an incremental expansion at Ridley Terminals that will increase capacity from 25.0Mtpa to 30.0Mtpa.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that it has contracted CWA Engineering Inc. ("CWA") to commence detailed engineering on its flagship Vista Coal Project ("Vista"). CWA will be responsible for the engineering, procurement and construction management ("EPCM") and will engage sub-contractors to perform other specialized services.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that it has entered into a binding agreement with the Highland Park Group for a C$70 million loan facility ("Facility Agreement"). The purpose of the Facility Agreement is to provide the Company with substantial capital resources to commence detailed engineering on its flagship Vista Coal Project.