CCF

Cobalt Coal Ltd. ("Cobalt" or the "Corporation") (TSX VENTURE:CCF) is pleased to
announce that it has closed the previously announced second tranche of its
brokered private placement (the "Offering"). Cobalt issued 2,526,000 common
shares in the capital of the Corporation (the "Shares") at a price of $0.12 per
Share for gross proceeds of $303,120. All securities issued pursuant to the
second tranche of the Offering are subject to a four month hold period expiring
on April 20, 2012.


Mackie Research Capital Corporation ("Mackie Research Capital") acted as agent
of the Corporation pursuant to the Offering. Mackie Research Capital was paid a
cash commission and was granted 202,080 compensation options in connection with
the closing of the second tranche of the Offering ("Compensation Options"), with
each Compensation Option entitling the holder to acquire one Share at a price of
$0.12 per Share until June 19, 2013.


The proceeds of the Offering will be used to acquire mining equipment, to
perform infrastructure upgrades for Cobalt's Westchester/Westchester Expansion
Mine, and for working capital purposes.


About Cobalt

Cobalt is a publicly traded coal exploration and production company
headquartered in Calgary, Alberta, Canada with a regional office in Welch, West
Virginia, USA. Cobalt was created to capitalize on the growth opportunities that
exist in the metallurgical coal mining industry. 


The securities of Cobalt being offered have not been, nor will be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold within the United States or to, or for the account or benefit
of, U.S. persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.


READER ADVISORY

Statements in this news release may contain forward-looking information
including the use of proceeds from the Offering and the timing of closing of the
Offering. The reader is cautioned that assumptions used in the preparation of
such information may prove to be incorrect. Events or circumstances may cause
actual results to differ materially from those predicted, a result of numerous
known and unknown risks, uncertainties, and other factors, many of which are
beyond the control of the Corporation. These risks include, but are not limited
to, the risks associated with the coal mining industry, commodity prices and
exchange rate changes. Industry related risks could include, but are not limited
to, operational risks in exploration, development and production, delays or
changes in plans, risks associated to the uncertainty of reserve estimates,
health and safety risks and the uncertainty of estimates and projections of
production, costs and expenses. The reader is cautioned not to place undue
reliance on this forward-looking information.

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