Corsa Coal Announces New Board Chair

FRIEDENS, Pa., Nov. 18, 2022 /CNW/ - Corsa Coal Corp. (TSXV: CSO) (OTCQX: CRSXF) ("Corsa" or the "Company"), a premium quality metallurgical coal producer, today announced that, effective today, Ronald G. Stovash has been named Chair of the Board of Directors of the Company. Mr. Stovash succeeds Robert (Bo) Sturdivant, who is retiring as a director of the Company effective December 31, 2022.

"Bo has served as a director and Chair since 2017 and the Board wishes to thank him for his valuable contributions to Corsa. I look forward to my new role as Chair and to working with management with a view to improving both our near-term operations and long-term results," said Mr. Stovash.

Mr. Stovash has served as a director of Corsa since 2013, a member of the Health, Safety, and Environment Committee since 2013, a member of the Governance, Nominating, and Compensation Committee since 2013 and Committee Chair since 2014, and member of the Audit Committee since 2016. Additional details regarding Mr. Stovash's expertise and background can be found in the Company's management information circular dated May 6, 2022, a copy of which can be found at www.corsacoal.com or under the Company's profile on SEDAR at www.sedar.com.

The Board does not expect that a successor for Mr. Sturdivant will be appointed prior to the next annual general meeting of shareholders of Corsa.

Information about Corsa

Corsa is a coal mining company focused on the production and sales of metallurgical coal, an essential ingredient in the production of steel. Our core business is producing and selling metallurgical coal to domestic and international steel and coke producers in the Atlantic and Pacific basin markets.

Forward-Looking Statements

Certain information set forth in this press release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") under applicable securities laws. Except for statements of historical fact, certain information contained herein including, but not limited to, statements relating to the improvement of the Company's near-term operations and long-term results, and the appointment of a successor to Mr. Sturdivant prior to the next annual general meeting of shareholders of Corsa constitute forward-looking statements which include management's assessment of future plans and operations and are based on current internal expectations, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "will", "estimates", "expects" "anticipates", "believes", "projects", "plans", "capacity", "hope", "forecast", "anticipate", "could" and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties. These risks and uncertainties include, but are not limited to: changes in market conditions, governmental or regulatory developments as a result of the COVID-19 pandemic or otherwise, the operating status and capabilities of our customers and competitors; various events which could disrupt operations and/or the transportation of coal products, including labor stoppages, the outbreak of disease and severe weather conditions; and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. Corsa does not undertake to update any of the forward-looking statements contained in this press release unless required by law.

The TSX Venture Exchange has in no way passed on the merits of this news release. 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.

SOURCE Corsa Coal Corp.

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