Cobalt Coal Ltd.- Closing of Financing Facility

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
announce the closing of the $1.75MM Financing Facility disclosed in, and on the
same terms as contained in, Cobalt's January 11, 2013 news release.


About Cobalt

Cobalt is a publicly traded coal exploration and production company
headquartered in Calgary, Alberta, Canada with a regional office in Virginia,
USA. Cobalt was created to capitalize on growth opportunities that exist in the
metallurgical coal 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. 


Reader Advisory

This News Release may contain forward-looking statements and other information
(collectively "forward-looking information") about the Corporation's current
expectations, estimates and projections. Forward-looking information is often
identified by words such as "anticipate", "intend", "believe", "expect", "plan",
"could", "focus", "proposed", "scheduled", "potential", "may" or similar
expressions and includes, but is not necessarily limited to, suggestions of
future outcomes. Readers are cautioned not to place undue reliance on
forward-looking information as the Corporation's actual results may differ
materially from those expressed or implied in the forward-looking information. 


Developing forward-looking information involves reliance on a number of
assumptions and consideration of certain risks and uncertainties, some of which
are specific to the Corporation and others that apply to the industry generally.
The factors or assumptions on which the forward-looking information is based
include without limitation: assumptions inherent in our current guidance,
including: foreign exchange and interest rates and the coal industry generally.
Actual results could differ materially from those currently anticipated due to a
number of factors, risks and uncertainties. Such risks and uncertainties
include, without limitation, risks associated with the ability of Cobalt to fund
its ongoing capital requirements; delays resulting from or inability to obtain
required regulatory approvals; the impact of general economic conditions in
Canada, the United States and globally; industry conditions; changes in laws and
regulations (including the adoption of new environmental laws and regulations)
and changes in how they are interpreted and enforced; increased competition; the
lack of availability of qualified personnel or management; fluctuations in
foreign exchange or interest rates; and stock market volatility. Readers are
cautioned that the foregoing list of factors is not exhaustive.


All subsequent forward-looking statements, whether written or oral, attributed
to Cobalt or persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements. Additional information on the foregoing
risks and other factors that could affect Cobalt's operations are on file with
Canadian securities regulatory authorities and may be accessed through the SEDAR
website (www.sedar.com). Furthermore, any forward-looking statements contained
in this News Release are made as at the date of this News Release and Cobalt
does not undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable securities
laws.


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


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


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