CanAm Coal Completes $1,050,000 Private Placement

CanAm Coal Corp. (TSX VENTURE:COE)(OTCQX:COECF) ("CanAm" or the "Company") is
pleased to announce that, subject to final regulatory approval, it has completed
its previously announced private placement and issued 13,077,675 units at a
price of $0.08 per unit for gross proceeds of $1,046,214. Each unit consists of
one common share and one common share purchase warrant. Each warrant is
exercisable at $0.12 per common share for a period of one year from closing. The
common shares issued in connection with the offering are subject to a four month
hold period that expires on October 21, 2013. 


Finder's fees of 6% ($4,392) were paid and 8% finder's warrants (73,200) were
issued in connection with a portion of the private placement. The finder's
warrants are exercisable into common shares at a price of $0.085 per common
share for a period of one year from closing.


Proceeds of the private placement will be used to execute on CanAm's development
and acquisition strategy, to repay outstanding debt obligations and for general
operating purposes. 


Jos De Smedt, President and Chief Executive Officer of CanAm, stated: "This
private placement will further enable us execute on our business plan and
provides us with additional financial flexibility. On behalf of CanAm, I would
like to thank our existing shareholders and the new shareholders for their
support of our Company."


About CanAm Coal Corp.

CanAm is a coal producer and development company focused on growth through the
acquisition, exploration and development of coal resources and resource-related
technologies. CanAm's main activities and assets include its four operating coal
mines in Alabama and the Buick Coal Project which holds significant coal
resources, 188 million indicated and 103 million inferred resources, in
Colorado, USA (see the technical report entitled "Limon Lignite Project, Elbert
County, Colorado, USA," dated October 26, 2007 and filed on SEDAR on November 2,
2007). Other coal and related opportunities continue to be evaluated on an
ongoing basis. 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, is
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Company's disclosure documents on the SEDAR website at
www.sedar.com. The Company does not undertake to update any forward-looking
information except in accordance with applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
CanAm Corporate Office:
Jos De Smedt
President & CEO
403.262.3797 or Toll Free: 1.877.262.5888
[e-mail]