CCF

Cobalt Coal Ltd. (formerly Cobalt Coal Corp.) (TSX VENTURE:CCF) ("Cobalt" or the
"Corporation") is pleased to announce that it has entered into letters of intent
with two private vendors involving the acquisition, directly or indirectly, of
mineral rights on two separate properties potentially containing significant
quantities of metallurgical and specialty coals. One of the properties is
located in Dickenson County, Virginia (the "Virginia Acquisition") and the other
is located in Bell and Knox Counties, Kentucky (the "Kentucky Acquisition").


In the case of the each property, samples from the seams of interest have been
analysed which support the composition of the coal being premium quality low to
mid volume metallurgical and specialty grade coals.


Pursuant to the Kentucky Acquisition, it is proposed Cobalt will acquire the
properties for consideration of US$1,593,000 payable as to US$905,500 in cash
and US$687,500 by the issuance of common shares of Cobalt based on the 20 day
weighted average trading price of Cobalt's common shares on the TSX Venture
Exchange Inc. prior to the scheduled closing date of June 25, 2012.


Pursuant to the Virginia Acquisition, it is proposed Cobalt will purchase the
properties for a purchase price of US$1,000,000 payable in cash on the scheduled
closing date of April 30, 2012.


Cobalt has placed deposits for each of the proposed two acquisitions each in the
amount of $200,000. Funds for the placement of these deposits came from the
recently completed private placement of Convertible Debentures of the
Corporation as announced on February 24, 2012.


Cobalt has entered into these acquisition agreements in furtherance of its
corporate objectives of adding reserves of metallurgical grade coal and placing
them into production. In that regard, Cobalt intends to commission NI 43-101
compliant reports with respect to the properties to be completed in advance of
formal closing of the acquisitions.


Closing of the acquisitions remain subject to the approval of the TSX Venture
Exchange Inc., completion of due diligence and other usual closing conditions
for transactions of this nature. 


About Cobalt

Cobalt is a publicly traded coal exploration and production company
headquartered in Calgary, Alberta, Canada with a regional office in Welch, West
Virginia, and is exclusively focused on growth opportunities in metallurgical
grade coal.


The securities of Cobalt being offered have not been, nor will be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold within the United States or to, or for the account or benefit
of, U.S. persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.


READER ADVISORY

Statements in this news release may contain forward-looking. The reader is
cautioned that assumptions used in the preparation of such information may prove
to be incorrect. Events or circumstances may cause actual results to differ
materially from those predicted, a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control of the
Corporation. These risks include, but are not limited to, the risks associated
with the coal mining industry, commodity prices and exchange rate changes.
Industry related risks could include, but are not limited to, operational risks
in exploration, development and production, delays or changes in plans, risks
associated to the uncertainty of reserve estimates, health and safety risks and
the uncertainty of estimates and projections of production, costs and expenses.
The reader is cautioned not to place undue reliance on this forward-looking
information.

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