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Continental Coal Limited (CCC) ASX Announcement 5 November 2010 Continental Coal Significantly Enhances Executive Management team following acquisition of Mashala Resources Key Points: .

Following acquisition of Mashala Resources, six senior executives previously with Mashala Resources have agreed to join Continental Coal, .

Appointments are in the key areas of operations, finance, marketing, legal and commercial, human resources, and projects, and .

Together with existing personnel and new appointments Continental Coal has arguably one of the most capable and credentialed management teams in South Africa. Emerging mid-tier Southern African focussed coal producer Continental Coal Limited (ASX: CCC) ("Continental" or the "Company") is pleased to announce the strengthening of the Companys South African subsidiary Continental Coal Limiteds ("CCL") executive management team, with the appointment of six senior mining executives who had previously worked with unlisted South African thermal coal mining and export coal producing company Mashala Resources ("Mashala"). Mashala was acquired by Continental Coal in mid-2010, with the transaction due to settle in the coming days. The appointment of these key executives, all of which come from Mashalas former executive management team, in the positions of Chief Operations Officer, Chief Financial Officer, Head of Marketing, Head Legal and Commercial, Head Human Resources and Project Manager further strengthens and complements Continentals core management capabilities and positions the Company as one of South Africas most capable and credentialed management teams. "I can speak on behalf of the Board of Directors and all at Continental by saying that we are extremely pleased that all of the former executive management team of Mashala have shown their support and commitment to Continental and what we are looking to achieve," stated Don Turvey, Continental Coals Chief Executive Officer. "Mashala has been successfully operating and developing mines since 2003 and their integration into the highly capable and experienced executive team at Continental will be invaluable as we look to establish Continental as a major player in South Africas coal sector." Mr Turvey added. Former Mashala Resources CEO, Mr Johan Heystek, has been appointed as Chief Operations Officer of Continental Coal and will assume responsibility for the operational aspects of the Companys existing two mining operations, at Vlakvarkfontein and Ferreira and development of its third mine, the Penumbra underground project, into production in 2011.

Mr Heystek is a registered professional mining engineer with over 25 years of industry experience, focused exclusively on coal in Southern Africa, including senior appointments at Ingwe Coal and BHP Billiton. On his appointment as CCLs new Chief Operating Officer Mr Heystek said, "Continental is very well positioned to deliver strong and sustainable returns to its shareholders, and I am excited by the challenges and opportunities ahead". "My immediate focus will be on integrating the Continental and Mashala teams into an efficient management structure that will oversee the immediate commencement of development of the Companys third profitable coal mining operation at Penumbra; to realise the full potential and value of the Companys now broadened asset base; and to take advantage of the tremendous exploration and growth opportunities that exist within our South African and Botswana projects," he added. In addition to the appointment of Mr Heystek as COO, Continental is also pleased to confirm the following other key executive appointments: Mrs Rachel Hebron joins CCL as Chief Financial Officer, a role she undertook at Mashala since 2003.

Mrs Hebron is a qualified Chartered Accountant with over 15 years broad financial management experience in several leading South African corporates.

Mrs.

Hebron was also a board member of Unihold Limited, a JSE top 100 company. Mr Haroon Alli joins CCL as Head of Marketing, and will be responsible for the sales of both export and domestic coal products.

He has over 25 years of experience within the energy industry, including 20 years in Shells Oil and Minerals Divisions and as Managing Director of Noble Energys South Africa subsidiary, Noble Asia Pacific Limited, situated in Johannesburg.

Mr Alli was a founding shareholder of Mashala Resources and as Marketing Director he handled the marketing side of Mashalas business, both export and local, including the acquisition of third party coal. Mr Andrew Lipshitz joins CCL as Head of Legal and Commercial.

Mr Lipshitz is an admitted attorney and practiced as a corporate commercial attorney as a director of one of South Africas pre-eminent commercial law firms.

In 2004 Mr Lipshitz joined Mashala.

At Mashala, he was involved in the legal management, strategic development and the acquisition of mineral rights as well as dealing with corporate and commercial matters of the company. Mr Ken Hodge joins CCL as a Project Manager.

Mr Hodge is a professional mining engineer with more than 35 years experience in underground and opencast coal exploration, development and mining industry in South Africa. His career includes senior management and technical appointments in mining and operations with major coal mining companies such as BHP Billiton and Xstrata.

He will work closely with Continentals existing Project Manager, Eugene de Villiers, in the mine design, project management and ultimate development of the Penumbra underground project and Continentals other South African coal projects. Mr Andries Mtsweni joins CCL as Head of Human Resource Management.

Mr. Mtsweni has 25 years experience in Human Resources Management, including several Human Resources managerial positions at BHP Billiton over a 12 year period prior to joining Mashala Resources as HR Director in 2007. In addition, following these key appointments to the executive team the Company is pleased to announce the establishment of two new senior executive positions. Mr Martin Westerman will assume the role of Head of New Business Development where he will be initially focused on the listing of the Company on the Johannesburg Stock Exchange in 2011.

Mr Westerman was formerly the Chief Financial Officer of Continental Coal. Mr Mike Nell will assume the role of Senior Manager of Operations where he will be directly involved in all operational aspects of the Companys Vlakvarkfontein and Ferreira coal mining operations. Continentals Chairman, Mr Andy Macaulay, also welcomed the appointments, saying the incoming Mashala executive team brought an exceptionally strong mix of skills in operational management, project development and corporate and financial management. "In securing these key appointments, Continental has significantly enhanced its ability to deliver on its stated goal of producing 10Mtpa of run-of-mine coal by 2015 and the development program for the Penumbra Underground Project," Mr Macaulay added. "We are particularly pleased to have recruited people of this calibre and I am confident that under the strong leadership of Don Turvey our team at Continental has all the necessary skills and attributes to make this company into one of South Africas leading coal producers," he said. For further details on the credentials of the Continental Board and Executive Management please refer to the Companys website. To download a full copy of the ASX Announcement please click here. For further information: Peter Landau, Non Executive Director, Continental Coal Limited Ph: 08 9488 5220 David Tasker, Professional Public Relations, Ph: 08 9388 0944 / 0433 112 936 Em:
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