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Coalcorp Announces Filing of Year End Financials and AIF

Financials

NEWS RELEASE

COALCORP ANNOUNCES FILING OF YEAR END FINANCIALS AND AIF

TORONTO, Oct 29, 2010 – Coalcorp Mining Inc. (“Coalcorp” or the “Company”) (TSX VENTURE-CCJ.H) announces that it filed today its annual financial statements, annual information form (AIF) and related management discussion and analysis (MD&A) for the year ended June 30th, 2010 (the “Financials and AIF”). The Company has applied to have the cease trade orders issued against it for failure to file the Financials and AIF within 90 days of Coalcorp’s financial year end revoked.

A copy of the Financials and AIF are available on the SEDAR website at www.sedar.com and the Company’s website at www.coalcorp.ca.

ABOUT COALCORP

The board of directors of Coalcorp are in the process of developing a new business strategy for the Company which will capitalize on the Board’s and management’s expertise, to invest in projects in the mining, metallurgical and mineral industries. Coalcorp currently holds an investment in Formation Metals Inc. Further information can be obtained under the Company’s profile at www.sedar.com.

FOR FURTHER INFORMATION

Steven Cresswell Interim Chief Executive Officer 416-644-1217

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.