GMZ

Global Met Coal Corporation (the "Company" or "GMC") (TSX
VENTURE:GMZ)(FRANKFURT:B1H) is pleased to announce that it has submitted a
National Instrument 43-101 Technical Report dated December 23, 2011 with the TSX
Venture Exchange. The Technical Report was prepared by SRK Consulting (UK)
Limited ("SRK") with respect to the Mogoin Gol Coking Coal Deposit in Mongolia. 


The Mogoin Gol Project comprises both the current mining and exploration license
areas. The project area is underlain by a single bituminous coal seam that
averages 7.8 metres (m) in thickness. Coal currently being mined on the property
is sold to Russian steel mills as coking coal. The mine has been in continuous
open pit production since 1971.


SRK DUE DILIGENCE 

Within the Mining License (384A), SRK has provisionally estimated, based on a
provisional model, 10.3 million tonnes coal remaining within the Mining License
(384A), and with an estimated variance of +/-1 million tonnes. The average
vertical coal thickness to overburden thickness is 1:5. 


A Vulcan seam model extrapolated across the Exploration License (13841X) gives
confidence that a resource of 10.7 million tonnes could be achieved, if a
successful drilling and sampling campaign is undertaken. The estimated average
coal thickness to overburden thickness in the exploration area is 1:11, based
upon historical drilling and backed by the recent and adjacent Aspire Mining
drilling results.


CONCLUSIONS AND RECOMMENDATIONS 

For the mining and material handling, SRK has identified the following:



--  Insufficient data is available to undertake even a 'high level' mine
    design. 
    
--  A modern mining fleet should be introduced to achieve the full potential
    of the mine and reduce operational costs. 
    
--  There are significant variations in ratio which will require careful
    mine planning and strict operational controls to ensure an even output
    through the life of mine. 
    
--  It is possible to design a mine with a relatively low mine gate cost. 
    
--  The highest cost and risk is the distance and difficulty of transporting
    the coal to market. 



SRK recommends that an intensive phase of resource drilling, geophysical logging
and sampling should be undertaken across the Exploration License (13841X) and
completed to ASTM Standards (ASTM 1999 and ASTM 2008). The following key
objectives should be met by GMC.




--  At least three drilling section lines, containing at least three
    boreholes per section line should be completed with cored sampling,
    geophysical logging and coal analysis of the main seam with proximate,
    coking and wash test analyses. The spacing of the section lines should
    be around 500 m and the holes along line should be spaced at
    approximately 300 m. The traverses should start with a location
    overlapping the Mining License (384A) to prove and extend continuity
    from the existing drilling. 
    
--  Data recorded from this phase of drilling and sampling should then be
    recorded into a project database, using appropriate lithology,
    geotechnical logging and coal analyses data. 
    
--  An accurate ground survey should be made from available satellite data
    and verified by ground DGPS measurements across the mining and
    exploration license areas. This survey must include an accurate survey
    of the open pit limits within the mining area. 
    
--  Collection of geotechnical and hydrogeology data should be obtained from
    this phase of drilling and recorded for future feasibility studies on
    the asset. 
    
--  A comprehensive coal market analysis of the asset should be undertaken
    by a leading coal markets analyst. This should focus on market studies,
    commodity price projections, product valuations, market entry
    strategies, and product specification requirements. 



Following the work above, GMC should then initiate a second phase and undertake
a Pre-feasibility Study (PFS) that can be continued through to a Feasibility
Study. 


SRK recommends that GMC develops a two phase exploration work program, with an
estimated expenditure of USD1.5M to attain a PFS level. SRK considers that GMC
should expect an additional cost of approximately USD2-3M for the exploration,
sampling, infrastructure, mining and environmental studies/activities necessary
to complete a Feasibility Study within three years. 


Dr. William Hatton, Chartered Geologist, Geological Society of London, is a
Qualified Person as defined under National Instrument 43-101 and has reviewed
and approved the scientific and technical information presented in this news
release.


Before investing, readers are encouraged to read the entire thirty-seven page
report after the TSX Venture Exchange review is complete and it has been posted
on SEDAR. 


CAUTIONARY STATEMENTS 

The potential quantity and grade of metallurgical coal at the Mogoin Gol Project
is conceptual in nature and there has been insufficient exploration to define a
mineral resource. It is uncertain if further exploration will result in
discovery of a mineral resource. There can be no assurance that the transaction
to purchase an interest in the Mogoin Gol Project will be completed as proposed
or at all. 


Investors are cautioned that, any information released or received with respect
to the transaction may not be accurate or complete and should not be relied
upon.


ABOUT GLOBAL MET COAL 

Global Met Coal Corporation is an exploration and development company currently
focusing on the acquisition of advanced stage properties with special emphasis
on metallurgical coal projects. The Company's strategy is to maximize
shareholder value through successful exploration and development. 


In addition to this proposed acquisition, the Company is also investigating
other met coal development projects in North America and Asia.

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