CanAm Obtains Gooden Creek #2 Mine Permit

Calgary, Alberta--(Newsfile Corp. - November 17, 2014) - CanAm Coal Corp. (TSXV: COE) ("CanAm" or the "Company") is pleased to report that the Company's subsidiary, Birmingham Coal & Coke ("BCC"), was issued permit # 3979 by the Alabama Surface Mining Commission ("ASMC") for the Gooden Creek #2 Mine. This permit is a 5 year surface mining permit covering a total of 401 acres. The Gooden Creek #2 Mine is adjacent to the Gooden Creek Mine and, with most infrastructures already in place, the Company is targeting an immediate production startup. Annual productive capacity at the Gooden Creek #2 mine is forecasted at 120,000 to 150,000 tons per annum.

The coal at the Gooden Creek #2 mine is considered to have the same qualities/characteristics as the coal that was being mined from the Gooden Creek mine. On average, the core sample analysis has indicated 4% ash, 1.3% sulfur and 14,000 BTU/lb.

"We are excited about our new Gooden Creek #2 Mine permit as it will allow us to further expand our mining operations and continue to meet our customer commitments", said Jos De Smedt, CEO of CanAm. "The quality and characteristics of this coal makes it a very versatile coal which will allow us to service both our utility and industrial customers."

The Company is also announcing that it will release its full financial results for the nine month period ending September 30, 2014 on November 28, 2014.

For Further Information:

CanAm Corporate Office:
Jos De Smedt, Chief Executive Officer
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.

Forward-Looking Information and Statements

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.