NATIONAL
COAL CORP. CLOSES THREE NEW SALES CONTRACTS
COMMITTING
NEARLY ALL OF ITS ANTICIPATED 2008 PRODUCTION
Knoxville, Tenn. – (December 13, 2007) –
National Coal Corp. (Nasdaq: NCOC), a producer of high-quality
steam coal in Central and Southern Appalachia, announces that it
has signed three new coal sales contracts. With the addition of
these commitments, National Coal has now sold 2,500,000 tons, or
96% of its estimated 2008 production.
Of the Company’s committed 2008 sales, approximately
1.1 million tons will come from National Coal of Alabama and
approximately 1.4 million tons from National Coal Corporation’s
properties in Kentucky and Tennessee. The three new contracts
vary in length from one to three years.
Daniel Roling, President and CEO of National Coal said,
“The signing of these additional sales contracts puts the
Company in a more secure position going forward. We have been
anticipating higher levels of production for 2008 versus 2007,
and these additional sales contracts will support those higher
levels of production.”
About National Coal Corp.
Headquartered in Knoxville, Tenn., National Coal Corp.,
through its wholly-owned subsidiary, National Coal Corporation,
is engaged in coal mining in East Tennessee and Southeastern
Kentucky, and through its wholly-owned subsidiary, National Coal
of Alabama, is engaged in coal mining in Alabama. Currently,
National Coal employs about 350 people. National Coal sells steam
coal to electric utilities and industrial companies in the
Southeastern United States. For more information visit www.nationalcoal.com.
Information about
Forward Looking Statements
This release contains
“forward-looking statements” that include information
relating to future events and future financial and operating
performance. Examples of forward looking-statements include
a belief that the sales commitments will support anticipated
higher levels of production. Forward-looking statements
should not be read as a guarantee of future performance or
results, and will not necessarily be accurate indications of the
times at, or by which, that performance or those results will be
achieved. Forward-looking statements are based on
information available at the time they are made and/or
management’s good faith belief as of that time with respect
to future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially
from those expressed in or suggested by the forward-looking
statements. Important factors that could cause these differences
include, but are not limited to: (i) the worldwide demand for
coal; (ii) the price of coal; (iii) the price of alternative fuel
sources; (iv) the supply of coal and other competitive factors;
(v) the costs to mine and transport coal; (vi) the ability to
obtain new mining permits; (vii) the costs of reclamation of
previously mined properties; (viii) the risks of expanding coal
production; (ix) the ability to bring new mining properties
on-line on schedule; (x) industry competition; (xi) our ability to
continue to execute our growth strategies; and (xii) general
economic conditions. These and other risks are more fully
described in the Company’s filings with the Securities and
Exchange Commission including the Company’s most recently filed
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q,
which should be read in conjunction herewith for a further
discussion of important factors that could cause actual results
to differ materially from those in the forward-looking
statements. Forward-looking statements speak only as of the
date they are made. You should not put undue reliance on
any forward-looking statements. We assume no obligation to
update forward-looking statements to reflect actual results,
changes in assumptions or changes in other factors affecting
forward-looking information, except to the extent required by
applicable securities laws. If we do update one or more
forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements.
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