🕐19.06.13 - 06:54 Uhr

INTERNATIONAL COAL [ASX: ICX] - EPC TERMS ACCEPTED FOR BOWEN BASIN FLAGSHIP (CONSUELO) PROJECT





Fortbridge Media Release

International Coal [ASX: ICX] - EPC Terms Accepted for Bowen Basin Flagship (Consuelo) Project

International Coal Limited (ASX: ICX) is pleased to announce that the company�s joint venture partner Coal Face Resources Pty Ltd (CFR) has accepted the proposed terms and conditions of grant from the Queensland Government for EPC 2318, 2327, and 2332 which together with competing EPC application 2925 form the Consuelo Project in the Bowen Basin.

Highlights:

� ICX in joint venture with Coal Face Resources Pty Ltd has accepted the terms and conditions proposed by the Queensland Government for
� EPC applications 2318, 2327 and 2332 (the Consuelo Project).
� EPC 2318 and 2332 will now proceed to the Minister for consideration of final grant.
� EPC 2327 remains subject to the expedited native title procedures which includes a minimum 4 month Native Title notification and objection period. CFR has a Native Title Agreement with the Bidjara People which includes a non-objection clause.
� ICX and CFR have binding terms of agreement which enable ICX to earn up to 71% interest in the project.
� The project has an Exploration Target range of between 800 and 1700Mt of coal from six seams in the Permian Bandanna Formation.
� Historical evidence from the region suggests the Bandana seams could potentially yield a washed semi-soft coking coal product.
� The project is located close to existing rail and port infrastructure.
� Planning for exploration in 2013-14 is well advanced subject to cultural heritage and landholder clearances.

Chief Executive Officer for ICX, Mr Glenn Simpson said, �The Consuelo Project will be a flagship project for the company. It places the company on the ground floor of a potential semi-soft coking coal project with open-cut and underground potential in the Bowen Basin � Australia�s premier coal producing basin�.

Please see the attached announcement for more details.

For further information, please contact:

Glenn Simpson
Chief Executive Officer
Phone: 0428 886 537

Hugh Dai
Executive Director
Phone: 0416 186 888

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