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Message: Seek Regulatory Approval for the No. 12 South B2 Underground Mine
| March 24, 2009 |
| Grande Cache Coal Corporation to Seek Regulatory Approval for the No. 12 South B2 Underground Mine |
| CALGARY, ALBERTA--(Marketwire - March 24, 2009) - Grande Cache Coal Corporation (TSX:GCE) ("Grande Cache Coal" or the "Company") announced today that it intends to seek regulatory approval for the No. 12 South B2 Underground Mine. The purpose of this mine is to provide a successor mine to the Company's present No. 7 Underground Mine. As the proposed underground mine will be a multi-seam operation that starts at the highwall of the present No. 12 South B2 Surface Mine, it will require no additional surface disturbance or changes to the existing haul road. Subject to receipt of the required regulatory approvals, the Company will be prepared to start site preparation for surface portals in early 2010. The No. 12 South B2 Underground Mine will require an amendment of a mine permit currently held by the Company, an Energy Resources Conservation Board Mine Licence, and an amendment by Alberta Environment of an Environmental Protection and Enhancement Act Approval currently held by the Company. "The new mine will be a successor mine to our current No. 7 Underground Mine and provide continuity for our underground workforce and the community" said Robert Stan, President and Chief Executive Officer of Grande Cache Coal. "Our company has made a significant investment in underground mining expertise, training and equipment and has gained operational experience at the No. 7 Mine that will carry over into the new No. 12 South B2 Underground Mine. Current world pricing and demand for export metallurgical coal is depressed, however, our company must prepare for the future and secure mining approvals so that production can be increased as world markets recover." Grande Cache Coal intends to file a National Instrument 43-101 statement of resources and reserves in support of the No. 12 South B2 Underground Mine project with its annual information form for the fiscal year ended March 31, 2009. Grande Cache Coal is an Alberta based metallurgical coal mining company whose experienced team of coal professionals are managing a mine that produces metallurgical coal for the steel industry and holds coal leases covering over 22,000 hectares in the Smoky River Coalfield located in west-central Alberta. Grande Cache Coal's common shares are listed on the Toronto Stock Exchange under the trading symbol "GCE". |
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