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Market: TSX
Sector: General Mining - Coal
EPIC: CMK
Latest Price: C$0.80  (0,00%)
52-week High: C$2.89
52-week Low: C$0.58
Market Cap: C$166.90M
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Cline Mining Corporation
www.clinemining.com

Cline Mining is in the business of acquiring, exploring and developing mine mineral resource properties to production in Canada, United States and overseas. The Company is a growth-oriented mine finder, developer and operator with an experienced management team and is supported by its strategic international corporate partner and shareholder, Mitsui Matsushima, a Japanese coal miner and conglomerate, which is also represented on the Cline Board of Directors.

Cline is developing its Lossan and Lodgepole metallurgical coal mine projects in British Columbia, Canada – C.I. 43 101 compliant Reports and feasibility studies completed; extensive diamond drilling program in progress at its Cline Lake gold property Ontario, Canada; additional iron ore mineral exploration on extensions and step-out areas at its Bekisopa, Madagascar iron ore properties; development of its New Elk metallurgical and thermal coal mine property in Colorado, U.S.A.

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Cline Mining leases coal storage area for New Elk Mine

9th Feb 2011, 8:57 am

Cline Mining Corp (TSE: CMK) announced Tuesday that it has entered into a long-term lease agreement for 18 acres of land that will serve as a coal storage area for the company's New Elk coal mine in southern Colorado.

The agreement was made with the Port of Corpus Christi Authority of Texas. The 18 acres of land is located adjacent to the shipping channel and near the bulk coal ship-loader, providing Cline Mining with immediate access to seaborne export coal markets for the sale of New Elk metallurgical coal.

The property lease is for an initial five year term, with the option for the company to extend the lease for five additional periods of five years.

The facility is capable of supporting a throughput of up to 2 million tons of metallurgical coal per year, and additional storage area is available to the company at the Port to accommodate future mine production, Cline said.

Cline's New Elk coalmine recently began mine production of high-vol metallurgical coal, with output slated to reach a rate of 3 million tons per year by the end of 2011.

Overall production in 2011 is projected to reach approximately one million tons of coal, with output expected to ramp up exponentially throughout the year.

New Elk has a mineral resource estimate of 315 million tons of coal in-place.

Cline has metallurgical coal property interests in British Columbia and in Colorado, U.S.A. It also has iron ore interests in Madagascar and owns the Cline Lake Gold Mine in northern Ontario, Canada.

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