Coalspur Mines Limited - INITIAL MEASURED & INDICATED COAL RESOURCE OF 93.3MT
AND INFERRED COAL RESOURCE OF 75.0MT DEFINED AT VISTA SOUTH

Highlights:

• Substantial initial Measured and Indicated Coal Resource of 93.3Mt and Inferred Coal Resource of 75.0Mt defined at the Vista South Project ("Vista South")
• Increases Coalspur's total Measured & Indicated Resources to 905.9Mt
• Resource defined from the first phase of the drilling program on Vista South which represents only 18% of the Vista South leases
• Coalspur is preparing a larger second phase of drilling commencing before year end to further define resources in the Vista South leases
• Vista South resources have the advantage of leveraging off coal mining, handling and processing infrastructure to be developed for Vista Coal Project

PERTH, Western Australia, Nov. 3 /CNW/ - Coalspur Mines Limited ("Coalspur" or "Company") (ASX: CPL, TSX: CPT) is pleased to announce that an initial Coal Resource comprising 93.3 million tonnes ("Mt") classified into the Measured and Indicated Mineral Resource categories and 93.3Mt classified into the Inferred Mineral Resource category, has been defined on the North West portion of the Vista South Project (refer Figure 1). This increases the Company's total Measured and Indicated Coal Resource to 905.9Mt and Inferred Coal Resource to 168.1Mt across both the Vista Coal Project ("Vista") and Vista South located in Alberta, Canada.

Commenting on the resource upgrade the Company's Managing Director and CEO, Mr Gene Wusaty, said "The Vista South Project area extends for over 25km on each of the northern and southern limb of the Entrance Syncline. Given its proximity to the flagship Vista Coal Project we will initially be focusing on the northern limb which we believe has the potential to host a significant coal resource. Any economic coal deposits defined on the northern limb can easily be leveraged off the infrastructure to be developed for the Vista Coal Project."

"The first phase of drilling has given us a much improved understanding of the geological structure in the large areas evaluated and will help determine the targets for the second phase drilling program. Although our ongoing Pre-feasibility Study is focused on the Vista Coal Project we will restart drilling Vista South later this year and continue to advance our understanding of this area which can provide a significant upside to our current Vista Coal Project."

Table 1: JORC / NI 43-101 Coal Resources
	Measured (Mt)	Indicated (Mt)	Measured & Indicated (Mt)	Inferred (Mt)
Vista Coal Project	533.3	279.3	812.6	93.1
Vista South Coal Project	51.5	41.9	93.3	75.0
Total Coal Resource	584.7	321.2	905.9	168.1

The initial Vista South Coal Resource estimate has been based on the historical drilling data and recently completed Vista South drilling program. The drilling completed by the Company was the first phase drilling program and consisted of 19 rotary drill holes which were drilled primarily to locate and define seam structure. The second phase is planned to begin in November 2010 and will consist of 30 rotary and diamond drill holes. The Resource Estimate has been completed in accordance with the JORC Code (2004) and National Instrument 43-101 ("NI 43-101").

Vista South is located immediately to the southwest of the Vista Coal Project, which has a Measured and Indicated Coal Resource of 812.6Mt of low sulphur, high volatile bituminous, export quality thermal coal (see Table 1). Vista South has a Measured and Indicated Coal Resource of 93.3Mt.

The full version of this announcement is available on the Company's website at www.coalspur.com and SEDAR at sedar.com.

Regulatory Disclosures

For further information regarding the Project, including a description of Coalspur's quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Project please refer to the technical report on the Project titled "Resource Estimate for the Vista Coal Property" (the "Technical Report") which is compliant with National Instrument 43-101 - "Standards of Disclosure for Mineral Projects" ("NI 43-101") and is available for review on SEDAR at sedar.com.

Competent Person/Qualified Person Statements

The information in this news release that relates to Coal Resources is based on information compiled by Mr. Robert J. Morris, who is a Member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta. Mr. Morris is a full-time employee of Moose Mountain Technical Services, who are consultants to Coalspur. Mr. Morris has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a "Competent Person" as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC Code"), and a "Qualified Person" under NI 43-101. Mr. Morris consents to the inclusion of such information in this news release in the form and context in which it appears.

The scientific and technical information in this news release that relates to Exploration Results, other than information relating to Coal Resources, is based on information compiled by Mr. Eugene Wusaty, who is a Member of the Association of Professional Engineers and Geoscientists of Alberta. Mr. Wusaty is a full-time employee of Coalspur. Mr. Wusaty has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a "Competent Person" as defined in the JORC Code, and a "Qualified Person" under NI 43-101. Mr. Wusaty consents to the inclusion of such information in this news release in the form and context in which it appears.

Forward-Looking Statements

This news release contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, scoping, pre-feasibility and other studies, results of exploration and related expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'expect', 'potential', 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this news release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company's Annual Information Form. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information.

The Company disclaims any intent or obligation to update or revise any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.

For further information:

Gene Wusaty
Managing Director and CEO

Telephone: [phone]