Endocoal Limited. : Updated Indicative Timetable for Proposed Scheme of Arrangement with U&D Mining

ASX RELEASE

UPDATED INDICATIVE TIMETABLE FOR PROPOSED SCHEME OF ARRANGEMENT WITH U&D MINING 11 March 2013 Updated indicative transaction timetable for proposed scheme of arrangement with U&D Mining

Endocoal Limited (ASX: EOC, Endocoal) would like to update Shareholders on the indicative timing for the proposed Scheme of Arrangement (Scheme) with U&D Mining Industry (Australia) Pty Ltd (U&D Mining).
As announced on Friday, 8 March 2013, the hearing before the Federal Court of Australia (Court) to approve the Scheme (Second Court Hearing) was adjourned until 10.15am (AEST) on Friday, 19 April
2013.
The indicative timetable below highlights the expected key dates to completion of the Scheme based on the new Second Court Hearing date.

Date Item

19 April 2013 Second Court Hearing

22 April 2013 Scheme becomes effective

30 April 2013 Scheme Record Date to determine eligibility to receive cash consideration

7 May 2013 Scheme Implementation Date where A$0.38 cash consideration becomes payable

All dates in the above timetable are indicative only and subject to the Court approval process, ASX approval and the satisfaction or, where applicable, waiver of the conditions precedent to the implementation of the Scheme.
The dates in the above timetable are subject to the necessary Chinese regulatory approvals being received before the Second Court Hearing. Under the Scheme Implementation Agreement between Endocoal and U&D Mining in relation to the Scheme (SIA), U&D Mining has until 25 April 2013 to obtain the Chinese regulatory approvals. If the Chinese regulatory approvals have not been received by that date, Endocoal may terminate the SIA unless U&D Mining requests a two month extension, which Endocoal must not unreasonably refuse.
Endocoal will provide further updates on progress of the transaction as necessary and when information becomes available.

Further Information

If Endocoal shareholders have any questions regarding the proposed Scheme they are urged to contact the Endocoal Company Secretary, Peter Edwards, on 07 3720 9300 (within Australia), or +61 7 3720

9300 (outside Australia), from 9:00am to 5:00pm Australian Eastern Daylight Time. Yours faithfully
Peter Edwards

1

26088629_3

ASX RELEASE

Company Secretary

About Endocoal

Endocoal is an Australian public company focused on exploration of coal tenements and mine development in the Bowen Basin, Queensland's premier coal producing region. Endocoal currently holds JORC Marketable Reserves of 13Mt and total JORC Resources of 498Mt. The Company is proceeding to develop an export-quality thermal coal open cut mine at its flagship Orion Downs tenement, positioned close to existing infrastructure. Endocoal has several other tenements in the Bowen Basin region. These will be the subject of future exploration and drilling activities. Near-term priority will focus on Rockwood tenement with anthracite coal prospective for PCI coal; plus greenfield Talwood and Stockyard Creek Project tenements where scout drilling has commenced seeking coking coal. At both locations, coal seams have been intersected and are being evaluated. At Pretoria Hill an exploration program with joint venture partner Carabella Resources (ASX:CLR) is being planned. Elsewhere, tenement applications will target other locations identified as being potentially prospective for coal exploration.

Endocoal Limited

Directors & Management

ACN 132 183 281

ASX CODE: EOC Securities Information

Ordinary Fully Paid Shares: 186.9m

Unlisted Options & Rights: 20.8m

Phillip McCarthy

Non-Executive Chairman

Tim Hedley

CEO & Managing Director

Peter Edwards

CFO and Company Secretary

Lex Hansen

Non-Executive Director

Gavin Solomon

Non-Executive Director

Ray Miller

Non-Executive Director