Western Coal And Walter Energy Extend Exclusivity Agreement

Dec 02, 2010, 06:00 ET from Western Coal Corp.

VANCOUVER, Dec. 2 /PRNewswire/ - Western Coal Corp. (TSX: WTN, WTN.WT and AIM: WTN) ("Western") today announced that it has extended its exclusivity agreement with Walter Energy, Inc. (NYSE: WLT) ("Walter"). Under the terms of the agreement, which was announced November 18, 2010, both companies are working exclusively with each other toward the negotiation of a definitive agreement to give effect to Walter's proposal for a potential business combination.

About Western Coal

Western Coal is a producer of high quality metallurgical coal from three mines in northeast British Columbia (Canada), high quality metallurgical coal and compliant thermal coal from four mines located in West Virginia (USA), and high quality anthracite and metallurgical coal in South Wales (UK). Other interests owned include a 24% interest in Mandalay Resources Corporation (MND: TSX), 40% interest in Xtract Energy (XTR: AIM), and a 20% interest in NEMI Northern Energy & Mining (NNE.A: TSX). The Company is headquartered in Vancouver, BC, Canada, and trades on the AIM and TSX stock exchanges under the symbol "WTN". More information can be found at www.westerncoal.com

SOURCE Western Coal Corp.