COALSPUR'S MEASURED & INDICATED COAL RESOURCES INCREASED TO 1.01 BILLION
TONNES

Highlights:

• Measured & Indicated Coal Resources on the flagship Vista Coal Project increased by 107.9Mt to 920.5Mt ("Project" or "VCP") ahead of release of Pre-Feasibility Study ("PFS")
• Total Measured & Indicated Resources of Coalspur increased to 1,013.8Mt which represents 74% of total resource
• The PFS on the Project is expected to be completed in the next few weeks and this will incorporate the resource upgrade and is expected to show an increased production rate, longer mine life and mining synergies on the Project
• The upgraded Coal Resource is shallow, with the primary seams ranging in depth from surface to 255 metres inside the mine design and with a gentle average dip of 7°
• The Project has 20km of continuous low dipping strike and access to an underutilised port and adjacent rail
• Resource upgrade based on refined geological reinterpretation of combined Project geological model and inclusion of the Silkstone seam

PERTH, Western Australia, Nov. 10 /CNW/ - Coalspur Mines Limited ("Coalspur" or "Company") (ASX: CPL, TSX: CPT) is pleased to announce a Coal Resource upgrade on its Vista Coal Project in Alberta, Canada ahead of the release of the Company's PFS on the Project. The Company's total Coal Resources have now been increased to 1.01 billion tonnes ("Bt") classified into the Measured and Indicated Mineral Resource categories and 357.3 million tonnes ("Mt") classified into the Inferred Mineral Resource category.

Commenting on the upgrade of the VCP Coal Resource, Managing Director and CEO, Gene Wusaty said "The upgrade is a further testament to the size and quality of the Vista Coal Project and places the resource base of Coalspur in the top tier of emerging global coal developers. This upgraded resource will be incorporated into the final mine planning being conducted on the Project in the PFS and we are excited about the potential of developing one of the largest export coal projects in North America".

Table 1: JORC / NI 43-101 Coal Resources
	Measured (Mt)	Indicated (Mt)	Measured & Indicated (Mt)	Inferred (Mt)
Vista Coal Project	588.9	331.6	920.5	282.3
Vista South Coal Project	51.5	41.9	93.3	75.0
Coalspur Total Resource	640.4	373.5	1,013.8	357.3

The VCP Coal Resource upgrade estimate has been based on the following factors:

• addition of recently obtained historical drillhole information into the geological database;
• addition of the Silkstone seam which underlies the McPherson Seam in the central part of the deposit. The Silkstone seam historical drilling indicates 3 coal plies with an aggregate thickness of up to 4.5m;
• reinterpretation and modelling of the merged boundary areas of the Hinton East, Hinton West, Z-Block and McLeod River North leases which now form the VCP; and
• reinterpretation of all coal seam splits and partings.

The Resource Estimate has been completed in accordance with the JORC Code (2004) and National Instrument 43-101 ("NI 43-101").

The Measured and Indicated Coal Resources of the Company now total over 1.01Bt of low sulphur, high volatile bituminous, export quality thermal coal with the VCP resource accounting for 920.5Mt and the Vista South Coal Project accounting for 93.3Mt. Further resource drilling programs are currently underway to expand the Coal Resource over the Company's large 32,000 hectare coal lease position in the Hinton region of West Central Alberta.

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, 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]