Pacific Coal Resources Ltd. Announces Corporate Name Change to Caribbean Resources Corporation

Toronto, Ontario--(Newsfile Corp. - February 10, 2016) - Pacific Coal Resources Ltd. (TSXV: PAK) (the "Company") announces that effective at the opening of market on February 10, 2016, the name of the Company will change to "Caribbean Resources Corporation" and that the common shares of the Company will trade under the new name and new corresponding trading symbol, "CRC". The Company's website has also been changed to reflect the name change to www.caribbeanresources.ca.

The name change to Caribbean Resources Corporation will better reflect the business of the Company as it evolves. Executive Chairman Hernan Martinez stated "This name change better reflects the Company as we continue to transition the company, and it is my hope to continue onward with future plans to explore alternatives and expand the scope of our business."

The name change was previously approved by the Board of Directors of the Company and has received all requisite approval from the TSX Venture Exchange.

About Caribbean Resources Corporation (formerly Pacific Coal Resources Ltd.)

Caribbean Resources Corporation is a Canadian-based mining company engaged in the acquisition, exploration and production of coal and coal-related assets from properties located in Colombia. The Company's common shares are listed on the TSX Venture Exchange and trade under the symbol "CRC".

Forward-looking Cautionary Statements

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "intends", "anticipates", or believes" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Caribbean Resources Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Caribbean Resources Corporation disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Neither 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 news release.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Volk, General Counsel and Secretary
Telephone: (416) 360-8725