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Atrum Coal moves forward with coal projects in British Columbia

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World Coal,

Along with its joint venture partner, Japan Oil, Gas and Metals National Corp. (JOGMEC), Atrum Coal has started exploration drilling at the Panorama North project in British Columbia, Canada.

Following a previous announcement of an exploration agreement with JOGMEC – where JOGMEC would invest CAN$5 million into exploration over three years and acquire a 35% interest in panorama North – personnel and equipment have been mobilised to site and drilling has commenced.

Atrum expects to drill approximately 1800 m of core over an area which is highly prospective for ultra-high grade anthracite. The drilling is projected to take approximately one month, with analysis of the core samples being conducted in the following weeks.

Atrum’s Executive Chairman, Robert Bell, commented on the drilling and stated: “The exploration of Panorama North is a very important step in our strategy of developing multiple high-grade and ultra high-grade anthracite mines within the Groundhog coal field.”

The company is now preparing Panorama South for possible joint ventures with major anthracite users. Internal modelling has also shown the potential for a joint venture for exploration at Groundhog Central, an area to the south of and adjoining Atrum’s Groundhog North mining complex in British Columbia.

Additionally, Atrum has also reported that all of its Groundhog North coal licence applications have been converted to coal licences by the British Columbian government.

Groundhog covers an area of over 800 km2 and comprises 77 granted coal licences. The additional licences would almost double the available area for active exploration to the company.

According to a company announcement, obtaining 42 new coal licences is another positive development that provides considerable additional exclusive coal exploration and development rights in the Groundhog area, as well as provides Atrum with greater certainty in respect to exploration planning in these areas.

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