Continental Coal : Corporate Update

Dear Name Surname 10 June 2010

25 February 2015

Company Announcements Office Australian Securities Exchange Level 6, 20 Bridge Street

SYDNEY NSW 2000

Via E Lodgement

Corporate Update

The Board of Continental Coal Limited ("CCC" or the "Company") is pleased to be proceeding with Ivory Mint in respect of the previously announced sale process and looks forward to concluding the transaction over the coming weeks.

Following completion of the rights issue, Ivory Mint has agreed to advance Continental an additional US$5m as part of its commitment to proceeding with the sale process. Continental will, commensurate with the additional funding from Ivory Mint, provide additional funding to its 74% owned subsidiary to ensure the sale process can proceed with the requisite funding and financing in place. The US$5m will come into Continental as an unsecured 10% coupon loan converting to either sale proceeds or a coal offtake depending on the final structure utilised by Ivory Mint, in financing the acquisition of the Continental Coal South Africa 74% interest.

Continental has also commenced looking at a number of strategic opportunities with Ivory Mint in the energy sector and looks forward to updating shareholders shortly on key developments.

For and on behalf of the Board

Peter Landau Executive Director

South Africa Australia

T [phone] F [phone] W www.conticoal.com T [phone] F [phone] W www.conticoal.com

34/36 Fricker Road, Illovo 2196 Ground Floor, 1 Havelock Street, West Perth, WA 6005

PO Box 787646, Sandton 2146 PO Box 684, West Perth, WA 6872

Executive Chairman: Dr Paul D'Sylva Executive Director: Mr Peter Landau

Non-Executive Directors: Dr Lars Schernikau and Mr Bruce Buthelezi

For further information please contact:

Investors | Shareholders Media (Australia)

Peter Landau David Tasker

Continental Coal Limited Professional Public Relations

T: + 61 8 9488 5220 T: [phone]

E: [e-mail] : [e-mail]

About Continental Coal Limited

Continental Coal Limited (ASX:CCC) is a South African thermal coal producer with a portfolio of projects located in South Africa's major coal fields including two operating mines, the Vlakvarkfontein and Penumbra Coal Mines, producing approx. 2Mtpa of thermal coal for the export and domestic markets. A Feasibility Study was also completed on a proposed third mine, the De Wittekrans Coal Project with a mining right granted in September 2013.

Forward Looking Statement

This communication includes certain statements that may be deemed "forward-looking statements" and information. All statements in this communication, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to take place in the future are forward-looking statements and information. Although the Company believes the expectations expressed in such forward-looking statements and information are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements and information. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, drilling and development results, production rates and operating costs, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those stated.