Coalspur Mines Limited - News Release

CALGARY, Jan. 15, 2013 /CNW/ - Borrowdale Park S.A. (the "Offeror") announced that on January 8, 2013 it acquired ownership and control of 12,724,669 ordinary shares of Coalspur Mines Limited (the "Issuer"). The shares were acquired as a result of the exercise of options with an exercise price of A$0.70 per share (the "Acquisition").

Immediately following the Acquisition, the Offeror beneficially owned and controlled 153,840,202 shares and options to acquire an additional 15,000,000 shares of the Issuer. Assuming the Offeror's options are not exercised, this represents 24.3% of the issued and outstanding shares of the Issuer. Assuming the Offeror's options are exercised, this represents 26% of the issued and outstanding shares of the Issuer.

The shares of the Issuer are listed on the Toronto Stock Exchange under the symbol "CPT" and on the Australian Securities Exchange under the symbol "CPL". The Offeror acquired the shares for investment purposes and may acquire ownership of, or control over, additional securities of the Issuer in the future.

An Early Warning Report respecting the Acquisition has been filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.

This issuance of the news release is not an admission that an entity named in the news release owns or controls any described securities or is a joint actor with another named entity.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Coalspur Mines Limited