Cobalt Coal Ltd. Announces Reinstatement of Trading and Corporate Update

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Cobalt Coal Ltd. (TSX VENTURE:CCF) ("Cobalt" or the "Corporation") is pleased to
provide an update pertaining to the reinstatement of trading of the
Corporation's shares, as well as a general corporate update.


Cease Trade Order and Reinstatement of Trading

On November 27, 2012, the Alberta and British Columbia Securities Commission
issued full revocations of their respective cease trade orders which were issued
in October 2012. The cease trade orders were issued as a result of the
Corporation's failure to meet a deadline to file an updated technical report,
compliant with National Instrument 43-101, on the Westchester Mine and the
Westchester Expansion Lease. The technical report was filed on Sedar on November
15, 2012. 


As a result of the aforementioned cease trade order revocations, the Corporation
has been advised by TSX Venture Exchange that its common shares, which have been
suspended from trading since October 9, 2012, are scheduled for reinstatement of
trading at the opening of the market on December 6, 2012.


$100,000 Non Brokered Private Placement of Convertible Debentures

The Corporation advises that it will not be proceeding with the $100,000
non-brokered private placement of convertible debentures previously announced in
the Corporation's news release dated October 1, 2012.


Bell and Knox County, Kentucky Acquisitions

The Corporation advises that it will not be proceeding with the property
acquisitions in Bell and Knox Counties of Kentucky that were the subject of the
Corporation's news release on February 29, 2012. For clarity, these are not the
acquisitions located in Virginia that are the subject of the Corporation's news
releases of March 8, 2012, July 11, 2012 and November 20, 2012, which the
Corporation refers to as the KMH and C&B acquisitions. The Corporation is
working towards closing the KMH and C&B acquisitions prior to the revised
closing deadline of December 14, 2012.


Electrification of the Westchester Mine

The Corporation is pleased to report that installation of the dedicated power
line to the Westchester Mine site is now complete. As a result, the diesel
generator that had been supplying mine power has been removed from site and the
Corporation is arranging for the installation of the necessary electrical
substation equipment such that upon resumption of operations, power will be
supplied from the electrical grid resulting in substantial savings in the
operating costs of the Westchester Mine.


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, USA. Cobalt was created to capitalize on the growth opportunities that
exist in the metallurgical coal mining industry. 


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any state in
which such offer, solicitation or sale would be unlawful. The securities have
not been registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cobalt Coal Ltd.
Al Kroontje
Director
403-607-4009
[e-mail]


Cobalt Coal Ltd.
Robert Gillies
CFO
403-538-8455
[e-mail]


Cobalt Coal Ltd.
Mike Crowder
President & CEO
423-323-2396
[e-mail]