Coalspur Mines Limited

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that the Company's largest shareholder, the Highland Park Group ("Highland Park"), has elected to exercise its option to purchase an additional 15 million ordinary shares in the Company at an exercise price of A$0.80 per share for gross proceeds of A$12.0 million through its affiliate Borrowdale Park S.A. The election follows the recent completion of a positive feasibility study on the Company's flagship Vista Coal Project ("Vista").

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to present its quarterly report for the three months ending December 31, 2011.

Coalspur Mines Limited (ASX:CPL) (TSX:CPT) is pleased to announce the completion of a Bankable Feasibility Study1 ("BFS") on the Company's flagship Vista Coal Project ("Vista"). The BFS follows a Pre-Feasibility Study ("PFS") which was completed in December 2010 and is the final major technical study that will be completed prior to the start of construction on Vista. The BFS was undertaken by Snowden Mining Industry Consultants Inc. and a number of internationally recognized coal industry engineering firms.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that the Marketable Coal Reserves of the Vista Coal Project ("Vista") has increased to 313 million tonnes ("Mt") as part of the ongoing Bankable Feasibility Study ("BFS"). This represents a 20% increase in the Marketable Coal Reserves over the 260Mt estimated in the Pre-Feasibility Study ("PFS"). The increased Marketable Coal Reserves are attributable to a larger pit limit, clean coal yield improvement and a refined mining and coal recovery plan. Following the completion of the updated reserve estimate the BFS is on schedule for completion at the end of December 2011 with publication in early 2012.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that it has further expanded its coal lease position in the Hinton region with the acquisition of an additional 7,296 hectares of Crown Coal Leases. The new leases are located approximately 10km northwest of Coalspur's flagship project, the Vista Coal Project ("Vista"), and increases the Company's land position to 40,567 hectares. The Company believes that the new leases have the potential to contain substantial Coal Resources as the new leases are on the same geological trend as Vista.

Canadian National Railway Company (TSE:CNR) (NYSE:CNI) and Coalspur Mines Limited (Coalspur) (ASX:CPL) (TSE:CPT) announced today that they have signed a Memorandum of Understanding (MOU) under which they will develop a high-quality logistics supply chain to transport export thermal coal from Coalspur's Vista Coal Project (Vista) near Hinton, Alberta, to Western Canadian ports starting in 2015.

Coalspur Mines Limited (ASX:CPL) is pleased to announce that it has reached an agreement with Ridley Terminals Inc. ("Ridley Terminals") on terms for the shipment of export thermal coal from Coalspur's Vista Coal Project ("Vista"). The agreement entitles Coalspur to up to 6.0 million tonnes per year ("Mtpa") of port allocation with an option for an additional 2.5Mtpa and has been structured to reflect the expected production profile of Vista. The agreement has a 14-year term that commences in January 2015 and includes an option to extend the term for an additional seven years.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce that the forecast marketable coal production from the Vista Coal Project ("Vista") has increased to 11.2 million tonnes per annum ("Mtpa") as part of the ongoing Bankable Feasibility Study ("BFS"). This represents a 24% increase over the 9Mtpa estimated in the Pre-Feasibility Study ("PFS"). The increased production rate is the result of enhanced mine planning, increased clean coal yield and the optimization of mine infrastructure design. The BFS is progressing on schedule and is expected to be ready for publication in early 2012 following completion at the end of 2011.

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce positive results from its extensive coal quality test program on the Vista Coal Project ("Vista"), which was undertaken to finalize coal quality specifications and determine the clean coal yield on Vista as part the ongoing Bankable Feasibility Study ("BFS").

Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is pleased to announce the following non-executive Director appointments as the Company progresses towards development of its world class Vista Coal Project.