Cobalt Coal Releases 2011 Annual Financial and Operating Results

CALGARY, ALBERTA--(Marketwire - May 1, 2012) - Cobalt Coal Ltd. (TSX VENTURE:CCF) ("Cobalt" or the "Corporation") is pleased to announce the release of its 2011 annual financial and operating results. A copy of Cobalt's audited consolidated financial statements and related management's discussion and analysis ("MD&A") for the year ended December 31, 2011 can be obtained on SEDAR at www.sedar.com.

About Cobalt

Cobalt is a publicly traded coal development and production company headquartered in Calgary, Alberta, Canada with a regional office in Welch, West Virginia. Cobalt is exclusively focused on growth opportunities in metallurgical grade coal.

Forward-Looking Statements

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Cobalt, including, without limitation, statements pertaining to management's future plans and operations. All statements included herein, other than statements of historical fact, are 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 Cobalt's disclosure documents on the SEDAR website at www.sedar.com. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, Cobalt does not assume any obligation to update or revise them to reflect new events or circumstances.