Grande Cache Coal : Corporation Announces Receipt of Interim Order For Plan of Arrangement

GRANDE CACHE COAL CORPORATION NEWS RELEASE GRANDE CACHE COAL CORPORATION ANNOUNCES RECEIPT OF INTERIM ORDER FOR PLAN OF ARRANGEMENT Calgary, Alberta, December 9, 2011 - Grande Cache Coal Corporation (GCE-TSX) ("Grande Cache Coal" or the "Corporation") is pleased to announce that, further to its news release dated October 31, 2011, it has received an interim order of the Court of Queen's Bench of Alberta with respect to its previously announced plan of arrangement (the "Arrangement") whereby 1629835

Alberta Ltd. will acquire all of the issued and outstanding common shares of the Corporation at a cash price of C$10.00 per share, for a total cash consideration of approximately C$1.0 billion. In accordance with the order, the materials for the Grande Cache Coal shareholders' meeting to approve the Arrangement, which has been scheduled for January 12, 2012, are anticipated to be mailed to shareholders on December 14, 2011. Grande Cache Coal anticipates that the Arrangement will become effective in February 2012.

About Grande Cache Coal

Grande Cache Coal is an Alberta based metallurgical coal mining company whose experienced team of coal professionals are managing a mine that produces metallurgical coal for the steel industry and holds coal leases covering over 22,000 hectares containing an estimated 346 million tonnes of coal resources in the Smoky River Coalfield located in west-central Alberta. Grande Cache Coal's common shares are listed on the Toronto Stock Exchange under the trading symbol "GCE".
For further information, please contact:
Ian Bootle
Vice President, Finance and Chief Financial Officer
Grande Cache Coal Corporation Suite 1610, 800 - 5th Avenue S.W. Calgary, Alberta T2P 3T6
Canada
Telephone: [phone]
Facsimile: [phone] www.gccoal.com

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Forward-Looking Statement Advisory

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and information concerning: the anticipated timing of the mailing of materials for the Corporation's shareholders' meeting to approve the Arrangement and the closing of the Arrangement.
In respect of the forward-looking statements and information concerning the anticipated completion of the proposed Arrangement and the anticipated timing for completion of the Arrangement, Grande Cache Coal has provided such in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the time required to prepare and mail Grande Cache Coal shareholder meeting materials, including the required information circular; the ability of the parties to receive, in a timely manner, the necessary regulatory, court, shareholder and other third party approvals, including but not limited to Investment Canada Act approval; and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement. These dates may change for a number of reasons, including unforeseen delays in preparing meeting materials, inability to secure necessary shareholder, regulatory, court or other third party approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.
Risks and uncertainties inherent in the nature of the Arrangement include the failure of Grande Cache Coal, 1629835 Alberta Ltd. ("AcquisitionCo") or Winsway Coking Coal Holdings Limited ("Winsway") to obtain necessary shareholder, regulatory, court and other third party approvals, or to otherwise satisfy the conditions to the Arrangement, in a timely manner, or at all. Failure to so obtain such approvals, or the failure of Grande Cache Coal, AcquisitionCo or Winsway to otherwise satisfy the conditions to the Arrangement, may result in the Arrangement not being completed on the proposed terms, or at all. In addition, the failure of Grande Cache Coal to comply with the terms of the Arrangement Agreement may result in Grande Cache Coal being required to pay a non-completion or other fee to AcquisitionCo, the result of which could have a material adverse effect on Grande Cache Coal's financial position and results of operations and its ability to fund growth prospects and current operations.
Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the operations or financial results of Grande Cache Coal are included in reports on file with applicable securities regulatory authorities, including but not limited to, Grande Cache Coal's Annual Information Form for the fiscal year ended March 31,
2011 which may be accessed on Grande Cache Coal's SEDAR profile at www.sedar.com.
The forward-looking statements and information contained in this news release are made as of the date hereof and Grande Cache Coal undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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