VANCOUVER, British Columbia, April 1, 2014 (GLOBE NEWSWIRE) -- Coalspur Mines Limited (ASX:CPL) (TSX:CPT) ("Coalspur" or "Company") is pleased to announce the release of an update to the previously filed technical report relating to its Vista project ("Vista"), together with its Annual Information Form ("AIF") for the year ended December 31, 2013. The requirement to update the technical report arose from the previously announced revised capital expenditure estimates for phases one and two of Vista. The AIF reflects updates on recent Company developments, including certain amendments to the facility agreement with EIG Global Energy Partners and an update on the previously announced Borrowdale Park standby facility of C$10 million, which is expected to be executed imminently. Both the AIF and the technical report are available on the Company's website, www.asx.com.au and www.sedar.com.
About Coalspur
Coalspur is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development opportunity. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
No regulatory authority has approved or disapproved of the information contained in this release.
This release contains forward-looking information concerning the expected execution of definitive documents relating to the Borrowdale Park standby facility. Although Coalspur believes that such forward-looking information is based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from the forward-looking information. Material factors or assumptions used by Coalspur to develop forward-looking information include the following: that all required transaction parties will have approved the final revisions to the definitive documents; and that signatories to the definitive documents will be available for execution thereof. Factors that could cause actual results to differ materially from the forward-looking information, include but are not limited to: risks associated with transaction parties revising previously agreed provisions, and signatories to transaction documents not being available for execution thereof. For more information on Coalspur, investors should review Coalspur's continuous disclosure filings that are available at www.sedar.com and www.asx.com.au.