CIC ENERGY SUBMITS EXPRESSION OF INTEREST ON TRANS KALAHARI RAIL PROJECT

TSX:ELC
BSE:CIC ENERGY

ROAD TOWN, Tortola, British Virgin Islands, Nov. 12 /CNW/ - CIC Energy Corp. ("CIC Energy" or the "Company") (TSX:ELC, BSE:CIC Energy) today announces that, as a member  of the Trans Africa Rail Consortium, the Company has submitted an Expression of Interest regarding the Trans Kalahari Rail Project, in response to the invitation jointly published by the Governments of Botswana and Namibia in October 2010. This submission was supported by global EPC/M and O&M companies, as well as regional coal producers and potential producers, along with leading financial and legal institutions. The Trans Africa Rail Consortium includes CIC Energy, Exxaro Resources Limited, Morupule Collieries Limited, Industrial Development Corporation of South Africa ("IDC") and African Infrastructure Investment Managers (Pty) Ltd ("AIIM").

In its request for Expressions of Interest, the Governments of Botswana and Namibia stated that the development of the Trans Kalahari Rail Project is expected to begin in June 2011.  A short-list from among the parties that submitted Expressions of Interest is expected to be announced in February 2011, and these parties will then submit their technical proposals for the project.

"The Trans Kalahari Rail Line is part of CIC Energy's long-term plan to maximize the value of the Mmamabula Coal Field by creating a new export route for coal in the region," said Mr. Greg Kinross, President of CIC Energy. "While a rail project of this size takes some time to develop, this project is gaining momentum as a critical project for the region."

The proposed Trans Kalahari Rail Project is a 1,500 kilometre rail line running from Botswana and the Waterberg Coal Field in South Africa to a port in Namibia. A pre-feasibility study on this rail project funded by the World Bank and supervised by the Governments of Botswana and Namibia is expected to be completed this month.

The selected developer will be expected to design, build and operate the Trans Kalahari Rail Line and port in Namibia for an unspecified period of time before transferring it to the Governments of Botswana and Namibia.

About CIC Energy Corp.

CIC Energy Corp. is engaged in the advancement of the Mmamabula Energy Complex at the Mmamabula Coal Field in Botswana, Africa. This planned Complex consists of the Mmamabula Energy Project, the Mookane Domestic Power Project, the Export Coal Project and a potential Coal-to-Hydrocarbons Project.

CIC Energy has a treasury of approximately C$29 million and has 52,573,969 million shares outstanding and 70,160,417 shares fully diluted. CIC Energy is listed on the Toronto Stock Exchange (TSX:ELC) and the Botswana Stock Exchange (BSE:CIC Energy).

About the Trans Africa Rail Consortium
The Trans Africa Rail Consortium is a private sector consortium formed to advance a Trans Kalahari Rail project. This consortium is able to supply in excess of 50 million tonnes per annum of coal for shipment on this proposed rail line.  CIC Energy is one of the potential anchor users of this rail line. The Trans Africa Rail Consortium includes CIC Energy, Exxaro Resources Limited, Morupule Collieries Limited, Industrial Development Corporation of South Africa ("IDC"), and African Infrastructure Investment Managers (Pty) Ltd ("AIIM").

Forward-Looking Statements

This news release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that CIC Energy believes, expects or anticipates will or may occur in the future are forward looking statements. These forward-looking statements reflect the current expectations or beliefs of CIC Energy based on information currently available to CIC Energy. Such forward-looking statements include, among other things, statements concerning the proposed development of the Trans Kalahari Rail Project and CIC Energy's potential participation therein. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, CIC Energy. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, possible delays in the development of the Trans Kalahari Rail Project and the possibility that the Trans Africa Rail Consortium may not be selected to participate in the development thereof.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, CIC Energy disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although CIC Energy believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

For further information:

For additional information on CIC Energy and its projects visit the Company's website at www.cicenergycorp.com or contact:

Erica Belling, CFA, P.Eng.
VP Investor Relations
Tau Capital Corp.
Tel: [phone] x 243
Email: [email protected]