CALGARY, Jan. 15, 2013 /CNW/ – Borrowdale Park S.A. (the “Offeror”)
announced that on January 8, 2013 it acquired ownership and control of
12,724,669 ordinary shares of Coalspur Mines Limited (the “Issuer”).
The shares were acquired as a result of the exercise of options with an
exercise price of A$0.70 per share (the “Acquisition”).

Immediately following the Acquisition, the Offeror beneficially owned
and controlled 153,840,202 shares and options to acquire an additional
15,000,000 shares of the Issuer. Assuming the Offeror’s options are not
exercised, this represents 24.3% of the issued and outstanding shares
of the Issuer. Assuming the Offeror’s options are exercised, this
represents 26% of the issued and outstanding shares of the Issuer.

The shares of the Issuer are listed on the Toronto Stock Exchange under
the symbol “CPT” and on the Australian Securities Exchange under the
symbol “CPL”. The Offeror acquired the shares for investment purposes
and may acquire ownership of, or control over, additional securities of
the Issuer in the future.

An Early Warning Report respecting the Acquisition has been filed on the
System for Electronic Document Analysis and Review (“SEDAR”) under the
Issuer’s profile and can be viewed at www.sedar.com.

This issuance of the news release is not an admission that an entity
named in the news release owns or controls any described securities or
is a joint actor with another named entity.

Neither the Toronto Stock Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.

SOURCE Coalspur Mines Limited