NATIONAL COAL CORP. NAMES MICHAEL
CASTLE CHIEF FINANCIAL OFFICER
Knoxville, Tenn. – (November 29, 2007) –
National Coal Corp. (Nasdaq: NCOC), a producer of high-quality steam coal in Central and Southern Appalachia, announces that Michael R. Castle has
been appointed Senior Vice President and Chief Financial Officer (CFO) effective December 1, 2007.
Current CFO and board member, Mike Love, is leaving
National Coal to pursue other opportunities. “We wish Mike well in his future pursuits and thank him for all the wonderful work he did while
serving with us,” said Daniel Roling, President and CEO of National Coal. With Mike Love’s departure, his seat on
the Board of Directors will remain unfilled for the time being.
Since 1999, Castle has been in professional practice
specializing in management advisory and consulting services. In his practice he offered various financial and operational skill sets designed to help
companies grow, acquire, or sell coal mining and natural gas properties throughout the Kentucky, West Virginia, Ohio, Tennessee and Virginia region.
He also provided income tax planning and compliance services for coal mining and coal industry related businesses.
Roling said Castle’s background was attractive
during the search process and sees areas where his industry insight will undoubtedly offer the Company significant benefit. “Michael is very
knowledgeable about the coal industry, having been associated with it for a number of years. His past achievements speak volumes about his ability to
add value and we look forward to his addition to our team.”
Prior to his service in his own professional practice,
Castle was CFO at Quaker Coal Company, a 12 million ton per-year, Kentucky-based coal mining company with operations in four states, where he
assisted with numerous debt financing arrangements that fostered and enhanced acquisitions and growth. He also served as CFO at Spendthrift Farm, one
of the largest thoroughbred stallion complexes in the United States. Prior thereto he also held positions of increasing authority
at Coopers & Lybrand and various regional accounting firms in Kentucky. His position at National Coal will be based in Knoxville,
Tenn., and he will report directly to Roling.
Castle holds a CPA in public practice and holds a
bachelor’s degree from the University of Kentucky.
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.
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