COOL Conti.Coal

16 January 2014


By e-lodgment

                 APPOINTMENT OF INDEPENDENT FINANCIAL ADVISOR

Continental Coal Limited (ASX: CCC; AIM: COOL) ("the Company") appointed
Deloitte, Perth as independent financial advisor to conduct a solvency review
on the Company as part of the ongoing recapitalization efforts of the Company.
This assignment will include a review of the overall funding and restructuring
strategy as well as a balance sheet and working capital review. Deloitte will
be presenting their findings to the Board of Directors early next week and
advise the Board on appropriate steps to be taken given their assessment of the
financial position of the Company.


For and behalf of the Board

Don Turvey

Chief Executive Officer


For further information please contact:

Investors/ shareholders
Don Turvey
Chief Executive Officer

Lou van Vuuren
Chief Financial Officer

T: +27 11 881 1429
E: admin@conticoal.com
W: www.conticoal.com


Media (Australia)
David Tasker
Professional Public Relations
T: +61 8 9388 0944

Nominated Advisor
Stuart Laing
RFC Ambrian Limited
T: +61 8 9480 2500

Brokers
Jeremy Wrathall / Chris Sim                  Jonathan Williams
Investec Bank plc                            RFC Ambrian Ltd
T: +44 20 7597 4000                          T : +44 203 440 6817


About Continental Coal Limited

Continental Coal Limited (ASX:CCC/AIM: COOL) is a South African thermal coal
producer with a portfolio of projects located in South Africa's major coal
fields including three operating mines, the Vlakvarkfontein, Ferreira and
Penumbra Coal Mines, producing approx. 2.2Mtpa of thermal coal for the export
and domestic markets. A Feasibility Study was also completed on a proposed
fourth mine, the De Wittekrans Coal Project.

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.