Becoming Colombia’s Leading Independent Coal Producer

October 2011

TSXV: PAK

1

This presentation contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws concerning the business, operations and financial performance and condition of Pacific Coal, S.A. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to business plans and strategies of Pacific Coal; information with respect to the proposed subscription receipt financing of Pacific Coal; estimated production of the various projects of Pacific Coal; the benefits of the acquisitions and the development potential of properties of Pacific Coal; the future price of coal; estimates regarding mineralization and exploration results; the ability of Pacific Coal to achieve mining success consistent with management’s expectations; and expected levels of royalty rates, operating costs, and other costs and expenses. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. There can be no assurance that the plans, intentions or expectations upon which forward-looking statements are based will in fact be realized. Actual results will differ, and the difference may be material and adverse to the Corporation and its shareholders. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intend”, “may”, “plan”, “predict”, “project”, “should”, “target”, “will”, or similar words suggesting future outcomes or language suggesting an outlook. Forward looking statements are based on the opinions and estimates of management at the date the statements are made, as well as a number of assumptions made by, and information currently available to, the Corporation concerning, among other things, Pacific Coal’s ability to successfully complete the proposed subscription receipt financing; anticipated geological, operational and financial performance, business prospects, strategies, regulatory developments, future commodity prices, future production levels of the Corporation’s assets, the ability to obtain financing on acceptable terms, the timely receipt of any required approvals and that there will be no significant events occurring outside of Pacific Coal’s normal course of business. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include changes in market conditions, risks relating to international operations, fluctuating coal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of equipment or processes to operate as anticipated, and acquisitions not being integrated successfully or such integration proving more difficult, time consuming or costly than expected. Although Pacific Coal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. Pacific Coal undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. This presentation uses the terms “measured”, “indicated”, and/or “inferred” mineral resources. United States investors are advised that while such terms are recognized by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. Unites States investors are cautioned not to assume that all or any part of mineral resources will ever be converted into mineral reserves. Inferred mineral resources have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

Disclaimer Forward Looking Statement

2

Vision

Explore, expand and develop existing producing assets to increase efficiencies, reserves and production, while securing infrastructure capacity (La Caypa, Cerro Largo, CI Jam/Port of Barranquilla)

Seek opportunities to secure access to markets and ensure commercial flexibility

LEADING INDEPENDENT COLOMBIAN

COAL PRODUCER

Foster a corporate environment of responsible citizenship

3

Strategy

RAW MATERIAL PRODUCTION

(UPSTREAM)

MANUFACTURING/ PROCESSING (MIDSTREAM)

RETAIL/MARKETING

(DOWNSTREAM)

• La Caypa – thermal coal • Cerro Largo – thermal coal • CI Jam – hard coking coal • La Tigra – asphaltite

• Upgraded coke production • Colloidal asphaltite in water (“CAW”)* • Colloidal petcoke in water (“CPW”)*

• Marketing of asphaltite products to: • Power generation plants • Heavy oil producing companies • Refineries

• Marketing of coke

CAW/CCW plant • 50% equity interest • Carried interest for

50/50 JV

Pyrolysis plant • 100% equity interest

Vertical integration to secure market access in value-added product streams

100% ownership and control of assets

*CAW and CCW are technologies being developed by Blue ACF, a company in which PAK has a 5% equity interest, with the right

to increase its investment to 20% pending successful trials. Pyrolysis is a proven procedure.

4

Capital Structure Fully Funded to Execute Strategy Pacific Coal became a publicly listed company via RTO on March 11, 2011, making the Company the

only independent, public coal producer in Colombia

Fully leveraged to rising interest in Colombian coal

Strong sponsorship and institutional investor support Cash flow positive As at September 30, 2011, 3,071,000 shares have been purchased for cancellation under the normal

course issuer bid

(1) Expiry date March 11, 2016 (2) Based on closing price of $0.41 on 10/05/2011

Pacific Coal (TSXV: PAK)

Shares outstanding: 330.0 million

Options (vested & exercisable) 30.9 million

Warrants outstanding with weighted avg. exercise price of $2.10(1) 75.1 million

Fully diluted: 436.0 million

Market cap (basic): Cash (June 30, 2011)

Long-term debt (June 30, 2011)

Enterprise value

$135.3 million (2) $34.2 million $9.0 million $110.1 million

5

Pacific Coal Fully Funded Capex 2011-2012

Exploration = $10 m Pending* = $9 m

Development = $15 m Pending* = $2.5 m

Acquisitions = $125 m Pending* = $15 m

Infrastructure = $17 m Pending* = $13 m

Equipment = $15 m Pending* = $5 m

• Drilling at Cerro Largo to update NI43-101

• Drilling, mapping and geophysics at La Tigra

• Drilling in Catatumbo

• Drilling La Caypa for underground mine design

• South pit expansion at La Caypa (Royalties)

• Paying Cerro Largo contract to Masering

• Paying Barranquilla Port outstanding debt

• Closing 86% Cerro Largo

• Blue ACF investment

• Completion of Coking Infrastructure

• Barranquilla Port setup

• Double body trailers (Trucks were acquired via leasing)

• Exploration drills

• Equipment for South Pit operations

• Other equipment

* As at September 2011

6

Luis Arturo Carvajales (Chief Executive Officer)

More than 20 years of experience in the mining industry, holding management positions in marketing, sales, logistics, and serving as legal counsel

Most recently President / Legal Representative of Carbones Colombianos del Cerrejon S.A.

Miguel Velasquez (Chief Financial Officer)

Over 25 years experience as Finance & Administrative Manager at companies in Colombia and at Colombian branches of Canadian companies

Giovanni Pizarro (Chief Operating Officer)

Over 23 years experience in the mining industry, specifically coal, holding senior positions in logistics and mine management. He spent over 8 years with Carbones del Caribe (Argos) and has a breadth of experience in managing integrated mining projects, coal processing and handling facilities, quality control, and port operations in Colombia.

Has a degree in Civil Engineering

Peter Volk (General Counsel and Secretary)

Mr.Volk has acted as General Counsel and Secretary of PetroMagdalena Energy Corp., Pacific Rubiales Energy Corp., Gran Colombia Gold Corp., and Bolivar Gold Corp.

Executive Management Strong and Experienced Team

7

Source: Management estimates *Annualized rate 1 La Caypa produced 654,445 tonnes in H1/2011 2 Cerro Largo produced 125,730 during H1/2011; Q1 production prior to Pacific Coal acquisition of Cerro Largo

Well-positioned portfolio with diversified current and future production of steam coal, coke and asphaltite

Asset Type Stage Current

Production*

La Caypa Open pit steam coal mine with underground potential

Producing 1.2 Mt1

(Coal)

Cerro Largo Open pit steam coal mine

Producing 600 Kt2

(Coal)

CI Jam Underground coking coal mine upgrading to coke

Producing (2011 ramp-

up)

35 kt (Coke)

La Tigra Asphaltite Development Start late-

2012

Catatumbo Steam coal Evaluating

opportunities -

Port Barranquilla Port concession for coke export

Development -

Port of Santa Marta Puerto Brisa

1 Port Barranquilla

Bogota

2

1

Medellin

Cali

3

1

2

3

4

5

Asset Summary Diverse Portfolio of High Quality Coal Assets

4

5

6

6

8

Source: Management estimates *Includes total production from Cerro Largo Q1/2011, before the acquisition closed

Thermal Coal Production Profile Fully Funded Organic Growth Pipeline

Robust production growth from existing assets with additional greenfield and consolidation opportunities

An

nu

al P

rod

uct

ion

(m

illio

ns

of

ton

nes

)

1.2

1.6-1.8*

2.6-2.9 2.7-2.9

3.4-3.6

9

Source: Management estimates

Coke Production Profile Fully Funded Organic Growth Pipeline

High value coke operation with long mine life and coal to coke conversion of ~70% A

nn

ual

Pro

du

ctio

n in

to

nn

es

36,000

55,000

68,000

82,000

10

RESERVES & RESOURCES (1)

LA CAYPA - (Inclusive of Additional Resources) Surface (Mt) Underground (Mt) Measured 11.2 35.8 Indicated - 17.8

High quality steam coal production with attractive expansion and underground potential

(1) Source: Report titled “NI 43-101 Compliant Technical Report, La Caypa Mine, Department of Guajira, Colombia” prepared by SRK Consulting and dated November 1, 2010

(2) Includes transportation, port, and administrative costs

La Caypa Mine Significant Thermal Coal Production

(1)

Location: • Guajira Department, Colombia

• Adjacent to Carbones del Cerrejón mine, largest coal mine in South America

Resource estimate: • 47.0 Mt of measured resource (1)

• 17.8 Mt of indicated resource (1)

Area: • 300 hectares

Average BTU: • 12,264 (1)

Average Sulphur: • 0.69% (1)

Operations: • One open-pit mine currently operating

₋ South pit expansion in development with expected start-up in 2012 and potential production of additional 1.0 Mtpa

• One underground mine in exploration, expected development in 2013

Projected Costs (2): • US$80/t

Avg Contract Price: • US$102/t in long-term contracts for 100% of production to 2013

Infrastructure: • Secured allocation at Santa Marta (250 km)

• Expected additional capacity at Puerto Brisa, early-2012, reducing freight costs by 40%-50%

Current strip ratio: • 8.2:1

LA CAYPA – COAL CHARACTERISTICS (1)

Year Moisture % Ash % Sulphur % CV Btu/lb 2009 10.11 5.78 0.69 12,264

11

Extension of existing open pit to south of highwall with same premium coal characteristics as the primary pit with a similar CV Btu/lb

Straightforward integration into existing mining operations

Expected production start-up in 2012 with all permits in hand

South pit measured and indicated resources of 7.7 Mt(1)

Development of south pit will be concurrent with existing mining operations

Potential incremental production of 1.0 Mt per annum

La Caypa Mine South Pit Expansion to Extend Mine Life

(1) Report titled “NI 43-101 Compliant Technical Report, La Caypa Mine, Department of Guajira, Colombia” prepared by SRK Consulting and dated November 1, 2010

12

Mine planning underway based on 16 coal seams showing consistent thicknesses suitable for underground mining (average thickness ranging from 2.3 meters to 6.8 meters)

Measured and indicated resource of 53.6 Mt (1)

Potential thermal coal production to increase 0.8 – 1.0 Mtpa expected to commence in 2013

Existing pit provides underground access point with three contemplated levels to depth of 240 meters from pit bottom

Studies underway to determine optimum mining method and design; potential to become the largest underground coal operation in Colombia

Underground potential to drive resource expansion and continued growth in production(1)

ELEVATION: 0

ELEVATION: -150

ELEVATION: -300

Level 1 Cradle

Level 1

Level 2

EXISTING OPEN PIT

La Caypa Mine Underground Production to Drive Growth

(1) Source: Report titled “NI 43-101 Compliant Technical Report, La Caypa Mine, Department of Guajira, Colombia” prepared by SRK Consulting and dated November 1, 2010 and management

projections

13

Contains high volatile bituminous type B coal with high calorific values and low sulphur

Cerro Largo – La Divisa Acquisition of Significant Coal Production

(1) Source: Report titled “Independent Technical Report, Cerro Largo Mine” prepared by SRK Consulting and dated February 2011

(2) Includes transportation, port, and administrative costs

Location: • Cesar Department, Colombia in the La Jagua de Ibirico coalfield

• Adjacent to licences owned by Drummond and Vale. Glencore is currently operating an open-pit mine on the adjacent La Jagua sector

Resource estimate: • 18 Mt – 22 Mt inferred (1)

Area: • 488 hectares

Average BTU: • 12,000 (1)

Average Sulphur: • 0.78% (1)

Operations: • One open-pit mine currently operating

2011 Projected Costs (2): • US$80/t, expected to lower US$2/year with improved efficiencies and strip ratio

Infrastructure: • Secured allocation at Santa Marta (250 km)

• Expected additional capacity at Puerto Brisa in early-2012, reducing freight costs by 30%-40%

Current strip ratio: • 15:1 (during ramp up)

• Long-term mine plan has been implemented

14

River Transport Coal Mine Coal Project Road Ports

Legend

Significant port and road infrastructure in place to support existing regional coal production

Colombia

Venezuela

Panama

Barranquilla

Cartagena Cartagena Port

Port of Santa Marta

La Caypa

Cerro Largo

La Tigra

Catatumbo

Puerto Brisa

Barranquilla Port

Puerto Bolivar

Regional Infrastructure Proximity to Infrastructure Supporting Growth

CI Jam

Secured allocation to 2013 of 1.8 Mtpa of coal stockpiling and shipping capacity at the Port of Santa Marta

Production trucked 250 km by paved highway to Santa Marta at a cost of approximately US$20-$23 per tonne from La Caypa and 280 km from Cerro Largo at a cost of approximately US$23-US$24.

Expected capacity at Puerto Brisa provides alternative port location closer to both La Caypa and Cerro Largo with potential to reduce freight costs by 40%-50% and by 30%-50%, respectively

Puerto Brisa construction expected to be completed in the first half of 2012 providing additional 35 Mt of specialized coal shipping capacity

15

Underground coking coal operation selling premium coke into high price environment

CI Jam Coking Coal and Upgraded Coke Production

(1) Source: Report titled “SRK Technical Report Written To Be Compliant With NI 43-101 On Contract 7241, Boyaca, Colombia” prepared by SRK Consulting and dated August 2010

(2) Includes transportation, port, and administrative costs

Location: • Boyaca Department, Colombia, west of the town of Samaca

• 3,000 small HCC producers in the area

Resource estimate: • 2.8 Mt in situ (1)

Area: • 52 hectares

Average BTU: • 13,800 with coking properties (1)

Average Sulphur: • 0.92% (1)

Operations: • Underground coking coal

• Upgrading coking coal to coke

Projected Costs (2) : • US$210/t

Avg Contract Price: • US$350/t - US$400/t

Infrastructure: • Well maintained roads to truck coke to domestic markets and to port terminals (800km to Barranquilla)

Status: • Completed refurbishment of 160 beehive coking ovens

• Completed refurbishment of coker infrastructure • 2011 estimated production at 36,000 tpa of coke • Currently evaluating economics of solera ovens

16

Pacific Coal has agreed to acquire a port concession owned by Masering situated on the Magdelena River near the Port of Barranquilla (approximately 5km from the Caribbean Sea) to be used to export coke, specialized coals, and bulk commodity products

Pacific Coal plans to tender for engineering, construction and procurement by the Q4/2011 pursuant to commissioning of the port starting in Q3/2012

Port of Barranquilla Investing in Long-Term Port Access for Coke

BARRANQUILLA CONCESSION

Main features of the final proposed scheme:

Two portable shiploaders

A pile supported concrete berth with 12 m water depth

Portable Stacker

Coal/coke piles

Reclaim conveyor alongside the open stockpiles

Office/Maintenance building

FEL receiving hopper (rail mounted)

Overall average loading capacity of approximately 10,000 tonnes per day

BARRANQUILLA CONCESSION

17

Profile

La Tigra’s Asphaltite

Grahamite

Gilsonite

La Tigra outcrop

Location of La Tigra: • 80 km from Barrancabermeja

Area: • 5,700 hectares

Operations: • Initial exploration drilling, mapping, trenching and geophysics commenced June 2011 with the objective of a NI 43-101 compliant report by Q1/2012

• Production start planned for late-2012

Infrastructure: • 70 km from Bucaramanga with paved roads between Bucaramanga and San Alberto

• 80 km from Barrancabermeja, the centre for petroleum refining and a port on the Magdalena River

Asphaltites are species of bitumen, dark-colored, comparatively hard and non-volatile solids, composed principally of hydrocarbons.

As of today in the La Tigra area, there is evidence for the presence of two different types of asphaltite: Grahamite and Gilsonite.

Management expects a significant resource at La Tigra to be confirmed with a National Instrument 43-101 compliant report – physical evidence on outcrops, oil seeps and 3 mines already in production in the area lead to optimistic forecasts on the existence of important asphaltite reserves.

18

La Tigra’s Asphaltite Applications

Colloidal Asphaltite in Water (“CAW”)

• Crushed asphaltite, suspended in water forming a colloid , can be used as fuel by power generators

• PAK and Blue ACF are in the process of developing a pilot plant test for CAW at Babcock & Wilcox facilities in Ohio, USA

• Trials on track at Babcock & Wilcox with results expected in Q4/2011

• Significant marketing opportunities as CAW can be sold as a fuel oil substitute

• Management foresees strong market demand for CAW in Central America and the Caribbean

Colloidal Petcoke in Water (“CPW”) • Similar to CAW, but using pet coke instead of asphaltite

• Blue ACF already conducted successful trials on colloidal pet coke in water at Babcock & Wilcox in Q1/2011

Proven Applications

Asphalt modifiers • Oil drilling and mud additive • Metal casings • Paving/roofing asphalts • Paint resins

Pyrolysis • Extensively used technology at the industrial level

• Converts asphaltite to valuable liquid and gas products, and pet coke

• Pet coke is a by-product produced through pyrolysis

• Prefeasibility study indicates excellent economics based on lab tests conducted with Colombia grahamite and gilsonite

• High margin application, potential for substantial volumes

• Feasibility study in progress in order to select the specific technology and to conduct pilot plant tests (100% PAK)

Applications in Evaluation Phase

PAK has investment option in the development of the CAW and CCW plants (50%)

19

CAW/CCW Emissions Abatement

The abatement of these emissions is usually achieved using Flue Gas Desulfurization technologies (`FGD`)

The key component is the limestone-based reaction (or calcium carbonate) as it removes SO2 from the flue gases to produce calcium sulfate or gypsum, a non-emission causing element

CAW with this limestone-based component will make this fuel less detrimental to the atmosphere than other heavy fuels

SO2

The abatement of NO2 is achieved by re-burning: re-burning is a NO2 staged combustion control technique that suppresses the formation of NO2 in burners and then provides for additional NO2 reduction in the furnace area of the boiler

NO2

Blue ACF is currently developing a new scheme to further reduce SO2 and NO2 emissions

The technologies being developed by Blue ACF have emissions abatement opportunities embedded in the R&D

20

Pacific Coal Health & Safety

Mission & values: To achieve Health & Safety goals through stewardship, integrity, and employee empowerment

• We encourage our employees to participate actively in safety activities by creating prevention programs.

• All of our employees take part in our community health programs as volunteers and patients.

• We periodically work with our direct and indirect workforce in industrial security to ensure best practice in the mining industry.

Our goal as a responsible company is to reduce the safety incidents in our operations each year: seeking to achieve the lowest rates of the mining industry

• We seek to find work partners that have high standards in health and safety politics.

• The company makes strategic alliances with environmental corporations to guarantee top eco-friendly performance.

• The organization maintains weekly updates in our safety performance indicators.

• We assure that the company and our work partners perform by all law obligations regarding health and safety activities.

21

Pacific Coal Community Relations

Mission: To maximize shareholder value, while fostering a corporate environment of responsible citizenship and respecting the interests of our stakeholders and members of the communities in which we operate and live

Leading the responsible progress our country needs

We work hand to hand with non-profit organizations to maximize our community efforts.

We align our initiatives with local government needs and activities contributing to the nation’s progress.

We ensure responsible operations by minimizing the impact on the environment.

22

Pacific Coal Achievement Scorecard

Achieved In Process

Completion of updated NI 43-101 at La Caypa and Cerro Largo

Production and costs in line with management estimates at La Caypa

Commencement of development of south pit expansion and surface work for underground at La Caypa

O

Implementation of integrated mine plan at Cerro Largo

Transition from Port of Santa Marta to Puerto Brisa, reducing freight costs by 30%-50%

O

Completion of refurbishment of 160 beehive coking ovens

Evaluation of expansion with solera ovens at CI Jam O

Commencement of exploration at La Tigra

Completion of NI 43-101 on La Tigra O

Development of Port of Barranquilla O

23

Fully funded for organic growth plans and cash flow positive

High-grade material of which global supply is permanently depleting and thus carrying premiums

High quality coal characteristics – high BTU, low moisture, low ash, low sulphur

Access to international markets via ports – improving efficiencies and cost reductions

Opportunities to develop projects to access growth markets such as coking coal and asphaltite

Strong operating team with a proven track record for project advancement

Strategically located, high-quality projects in a world-class jurisdiction with significant growth potential

Pacific Coal Summary

24

APPENDIX

25

Source: Ingeominas Colombian Institute of Geology and Mining; Energy Information Administration; Reuters; Intierra

Colombia is the world’s 10th largest producer (76 million tonnes in 2009) and 4th largest exporter of coal

Coal represented 25% of total export earnings for Colombia in 2009

Colombia has one of the largest proven coal reserves in the world, with over 7 billion tonnes of recoverable reserves and 17 billion tonnes of potential reserves

Colombia’s estimated 2011 coal production is 85 million to 95 million tonnes

Pribbenow (Drummond)

Calenturitas (Glencore)

La Francia (Goldman Sachs)

El Descanso (Drummond)

La Jagua (Glencore)

Cerro Largo

LA GUAJIRA DEPARTMENT

CESAR DEPARTMENT

La Tigra

CI Jam

Catatumbo

Cerrejon (BHP/Xstrata/Anglo)

La Caypa

Colombia A World-Class Coal District

El Hatillo (Vale)

26

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

19

80

19

82

19

84

19

86

19

88

19

90

19

92

19

94

19

96

19

98

20

00

20

02

20

04

20

06

20

08

20

10

Production in Mt

$0

$50

$100

$150

$200

$250

Jul-06 Jul-07 Jul-08 Jul-09 Jul-10 Jul-11 Jul-12 Jul-13

FOB Puerto Bolivar to Europe API#2 Price

Source: BP Statistical Review of World Energy and Bloomberg

Colombian Coal Production (Mt) DMTU Thermal Coal Price (FOB Puerto Bolivar)

Colombia A World-Class Coal District

Colombia is a significant coal mining region with 2011 production forecast to exceed 85 million tonnes

Colombian Coal prices up over 60% since January 2010

20

11

E

27

Source: Management estimates, Fraser Mackenzie research, and Bloomberg * Peers: Corsa Coal Corp., Forbes & Manhattan Coal Corp., Lipari Energy, and Xinergy Ltd. ** Production sales as of most recent quarter on an annualized basis

Valuation Metrics Opportunity For Re-evaluation

2.4x

2.9x

0.0

0.5

1.0

1.5

2.0

2.5

3.0

Pacific Coal Peer*

EV /

20

12

E EB

ITD

A

$1.78

$16.34

$-

$2

$4

$6

$8

$10

$12

$14

$16

$18

Pacific Coal Peer*

EV /

Re

sou

rce

$94.04

$139.91

$0.00

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

Pacific Coal Peer*

EV /

To

nn

e S

old

**

As at October 1, 2011

28

Becoming Colombia’s Leading Independent Coal Producer

October 2011

TSXV: PAK