TORONTO, ONTARIO--(Marketwire - Jan. 31, 2011) - Coalcorp Mining Inc. (TSX VENTURE:CCJ.H) ("Coalcorp") today announced that it has received the final instalment of US$2 million from Xira Investment Inc. ("Xira") in accordance with the terms of the settlement agreement entered into between Coalcorp, Xira and others, as previously announced.

All payments and deliverables have now been made or delivered in accordance with the terms of the settlement agreement. 

Forward Looking Statements Disclaimer

Forward Looking Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such statements can typically be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "possible", "continue", "objective" or other similar expressions concerning matters that are not historical facts. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Coalcorp does not undertake to update any forward-looking statements; such statements speak only as of the date made.

Contact Information: Coalcorp Mining Inc.
Steven Cresswell
Interim Chief Executive Officer
416-644-1217