CanAm Announces Management Cease Trade Order Will Not be Issued

Calgary, Alberta--(Newsfile Corp. - May 1, 2015) - CanAm Coal Corp. (TSXV: COE) ("CanAm" or the "Company") announces that the Company has received notice from the Alberta Securities Commission ("ASC") that a management cease trade order will not be issued, in connection with the Company's previously released failure to file its audited consolidated financial statements for the year ended December 31, 2014 and its related management's discussion and analysis and management certifications (collectively, the "Required Filings") on or before the prescribed deadline of April 30, 2015.

As a result it is anticipated that the Company will become subject to a cease trade order by the Alberta Securities Commission. In order to have the cease trade order revoked, the Company would need to file any outstanding continuous disclosure, pay any outstanding fees and make an application for a cease trade order revocation in accordance with National Policy 12-202 - Revocation of a Compliance-Related Cease Trade Order. The Company is targeting to file the Required Filings as soon as possible but no later than May 20, 2015.

As a management cease trade order will not be issued, the Company no longer intends to satisfy the provisions of the alternative information guidelines under National Policy 12-203 — Cease Trade Orders for Continuous Disclosure Defaults including that it will not issue bi-weekly default status reports in the form of news releases while it remains in default of the filing requirements set out above.

For Further Information:

CanAm Corporate Office:
Jos De Smedt, CEO
Tel: 403.262.3797
Toll Free: 1.877.262.5888
Email: jdesmedt@canamcoal.com

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 including management's and the Board of Directors' assessment of the Company's ability to complete the Required Filings, the availability of the funds required to do so, the institution of a cease trade order by the Alberta Securities Commission, a favorable ruling by applicable securities regulators upon the Company's application for a cease trade order revocation in the event a cease trade order is instituted, anticipated defaults or events of defaults under certain of the Company's debt obligations and results thereof and  the availability of alternative refinancings. 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 forward-looking 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 certain additional forward-looking information and a description of risk factors that may cause actual results to differ materially from such certain 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.