COALWORKS Limited COALWORKS Limited ACN 114 702 831 Level 5, 44 Miller Street, North Sydney NSW 2060 AUSTRALIA Ph: +61 2 9922 1344 Fax: +61 2 9929 3098 Email: [email protected] www.coalworks.com.au 05 August 2008 UHDE SHEDDEN APPOINTMENT FOR OAKLANDS • Uhde Shedden engineers appointed for Oaklands pre feasibility study Coalworks Limited (ASX:CWK) today announced that it has appointed leading engineers Uhde Shedden (a wholly owned subsidiary of Uhde GmbH) to provide a pre feasibility study for clean coal processing options at the Oaklands North Coal Mine. This study will specifically examine the gasification of Oaklands coal to produce synthesis gas (syngas) and the production of gasoline and synthetic natural gas from the produced syngas. The study will assemble technical, cost and environmental data that will allow Coalworks Ltd to proceed with a bankable feasibility study as the next step in the development. This study will also identify further possible uses of the syngas through future development of an Oaklands production facility such as power generation, ammonia & urea production and Fischer Tropsch liquids production. Coalworks Senior Consultant Chris Hagan welcomed the appointment of Uhde Shedden to undertake the pre feasibility study: “Uhde Shedden is not only a leading engineering group in coal gasification and processing but has access to state of the art clean coal processing technologies. Their appointment is a necessary step to add value to the Oaklands project by laying the groundwork for a coal gasification plant to be built following the establishment of the Oaklands Coal Mine. The particular suitability of Oaklands coal for gasification is shown in prior technical studies already. The construction of such a plant would be designed to decrease mine operating costs and increase profits from coal production at Oaklands.” Uhde GmbH is a company in the technologies segment of the ThyssenKrupp Group with a sales volume of €51.7 billion per year and a global workforce of ~191,000 people. Of this, Uhde has a current workforce of ~4,400 employees with sales for the 2006/07 business year of €1.21 billion. It is one of the world’s leading process technology and engineering companies in the field of large-scale chemical and petrochemical plant construction with activities in Europe, the Middle East, North Africa and Australasia. For further information, please contact: Mr Tony Teng Director/Secretary COALWORKS Limited COALWORKS Limited COALWORKS Limited ACN 114 702 831 Level 5, 44 Miller Street, North Sydney NSW 2060 AUSTRALIA Ph: +61 2 9922 1344 Fax: +61 2 9929 3098 Email: [email protected] www.coalworks.com.au About COALWORKS Coalworks has a portfolio of projects in Australia including Oaklands (JORC inferred 280mt thermal coal), Hodgson Vale (exploration target thermal coal) and Ashford (limestone deposit with high value lime products as target). Coalworks Achievements at Oaklands in 2007 – 2008 • Drilled Oaklands southern zone and achieved inferred JORC resource of 280Mt of thermal coal by drilling within first 6 months of tenement grant in August 2007. • Drilled Oaklands northern zone and intersected thick coal up to 15.6 metres in 3 drill holes giving potential for increasing the above coal resource. • Appointed Minserve Group engineers to undertake test pit design which was completed in the first half of 2008. • Appointed international consulting engineers Connell Hatch to undertake conceptual study for a major coal mine at Oaklands in mid 2008 • Appointed GEOS Mining Consultants to undertake technical studies to support a bankable feasibility study for coal mine at Oaklands • Completed drilling program at Hodgson Vale Coal Project • Completed drilling program at Ashford Limestone Project • Listed on ASX with successful IPO closing oversubscribed raising $25 million in June 2008 • Appointment of prominent environmental consultants R.W. Corkery & Associates to undertake environmental assessments to support test pit approval process and main mine approval. • Watson Drilling was appointed to commence second round of drilling in June 2008. • 10m of coal was intersected in first hydro drill hole in early July 2008 at 58m to 68m depth. • 9.5m of coal was intersected in second and third hydro drill holes in July 2008 from approximately 60m depth. • TCL International was appointed to provide third drilling rig in August for further drilling at Oaklands • Commencement of geotechnical hole for test pit at Oaklands COALWORKS Limited COALWORKS Limited ACN 114 702 831 Level 5, 44 Miller Street, North Sydney NSW 2060 AUSTRALIA Ph: +61 2 9922 1344 Fax: +61 2 9929 3098 Email: [email protected] www.coalworks.com.au Cautionary Note: This release may contain forward-looking statements that are based upon management’s expectations and beliefs in regards to future events. These statements are subjected to risk and uncertainties that might be out of control of Coalworks Limited and may cause actual results to differ from the release. Coalworks Limited takes no responsibility to make changes to these statements to reflect change of events or circumstances after the release. Note: The statements “Coalworks Achievements at Oaklands 2007-2008” made in this announcement were made in reliance upon the announcement released dated 31 July 2008
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