CanAm Update on Debenture Interest Payment

Calgary, Alberta--(Newsfile Corp. - May 15, 2015) - CanAm Coal Corp. (TSXV: COE) ("CanAm" or the "Company") announces that it has exceeded the 10 day cure period respecting the payment of interest on its 12% secured debentures due May 23, 2018. As per the terms of the debenture agreement, the failure to pay interest constitutes an event of default under the debenture agreement. Following the occurrence and during the continuance of any event of default, a holder of debentures may accelerate the obligations owing to it and exercise all remedies available to it. At this point in time, the Company has not received any notices of acceleration in respect of the 12% debentures.

The Company is continuing its efforts to deal with its current financial position, however there can be no guarantee that these efforts will be successful. Reference should be made to the May 1, 2015 and May 7, 2015 press releases for additional details.

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 anticipated defaults or events of default under certain of the Company's debt obligations and results thereof, and the Company's ongoing efforts to deal with its current financial position.. 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.