Colombia Clean Power & Fuels, Inc. Acquires Additional Metallurgical Coal Concessions With Over 8,000 Acres

SAN RAFAEL, Calif., May 10, 2011 /PRNewswire-FirstCall/ -- Colombia Clean Power & Fuels, Inc. (OTCBB: CCPF), (the "Company" or "CCPF") announced today that it has finalized the acquisition of additional metallurgical coal concessions totaling approximately 3,300 hectares (8,100 acres).The properties are located near the town of Otanche, in the district of Boyaca.

The concessions contain three contiguous areas, two of which are already permitted for mining operations. The Company expects the Otanche acquisitions to substantially accelerate its commercialization timeline for mining operations. CCPF has signed and filed definitive agreements before the Colombian Institute of Mining and Geology, Colombia's coal authority, and expects full transfer of the titles within 40 days.

Graham Chapman, the Company's Chief Operating Officer, stated, "The Otanche acquisition is a major milestone in our coal prospect acquisition strategy in Colombia. More importantly, with an approved mining plan and two exploratory drills on location, Otanche represents an opportunity for us to move rapidly to prove reserves and commence commercial operations. Based on initial drilling results, the coal at Otanche appears to be predominantly low and mid-volatility metallurgical coal of very high quality. We believe the coal from Otanche will prove suitable for use in our planned heat recovery coking plant without washing or blending with other coals, which we expect to confirm as we receive additional exploration results."

The Company's due diligence included access to preliminary drilling that was completed by a previous owner of the property, full legal due diligence and preliminary exploratory drilling by the Company. In addition, the entire area is being mapped geologically to identify and sample the coal outcrops. The first exploration hole has been completed and revealed seam horizons and coal qualities consistent with potential for significant metallurgical coal resources.

Carlos Soto, President of the Company's operating subsidiary in Colombia, Colombia Clean Power, SAS, added, "All data collected from Otanche is being loaded into a Vulcan database to produce a geological model after which a mining model will follow. A leading contracting company in Colombia is developing a conceptual mine plan, which will be verified by independent international experts prior to implementation. Thus far, a provisional portal position has been defined and work is focusing on the transport route from the proposed mine portal to the existing road network."

About Colombia Clean Power & Fuels, Inc.

Colombia Clean Power & Fuels, Inc. (OTCBB: CCPF) is developing coal mining, coal coking and clean coal technology operations in the Republic of Colombia. The Company plans to build mines to produce both metallurgical coal and high-grade thermal coal and implement advanced coal technologies, such as coal gasification and coal-to-liquids, to produce metallurgical coke, urea, liquid fuels, power and other clean energy solutions. Colombia is the world's tenth largest producer and fourth largest exporter of coal, with an estimated 7 billion metric tons ("MT") of recoverable reserves and 17 billion MT of potential reserves.

The Company's current operations are focused on coal exploration and development activities. The Company has retained leading engineering and geological services firms in the U.S. and Colombia to conduct exploration work in selected concessions acquired to date and others under consideration for acquisition by the Company. The Company's team of executives, advisors and partners is comprised of experienced entrepreneurs and business professionals in the U.S., Colombia and China that have a breadth of experience in coal mining and clean coal technologies as well as substantial industry relationships.

For more information, visit www.ColombiaCleanPower.com

This release contains forward-looking statements regarding Colombia Clean Power & Fuels future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, fluctuations in coal and energy prices, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. Colombia Clean Power & Fuels undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.

Company Contact: Daniel Carlson
Email:  [email protected]
Telephone +1 (415) 460-1165
www.colombiacleanpower.com

SOURCE Colombia Clean Power & Fuels, Inc.