Global Met Coal Corporation announced that the TSX Venture Exchange has accepted the Technical Report dated February 28, 2012. The Technical Report was prepared by SRK Consulting (UK) Limited in accordance with National Instrument 43-101 with respect to the Mogoin Gol Coking Coal Deposit located in the territory of Tsetserleg Soum of the Khuvsgul Province of Mongolia. The Mogoin Gol Project comprises both a current Mining License (384A) area, and an adjacent Exploration License (13841X) area. The Mogoin Gol coal mine has been in continuous open pit production since 1971. Coal currently being mined on the property is sold to Russian steel mills as coking coal. The Mogoin Gol property contains a single seam bituminous coal deposit. Overall, the seam appears simple with locally limited thin dirt bands. Based on historic exploration data, and recent mining experience, the seam has been recorded as 7.8 metres (m) thick on average, but can attain a maximum of 23.2 m. The existence of the same seam across the adjacent Aspire Mining Ovoot project area also confirms that the deposit is of low structural complexity and `simple' sedimentary coal seam structure. GMC announced earlier, that it has negotiated and concluded a memorandum of understanding with Aspire Mining Ltd., the owners of the adjacent properties, related to the co-operation and collaboration relating to the Mogoin Gol and Ovoot coking coal projects. The Technical Report contains information with respect to the adjacent Aspire property. The company has no interest or rights to acquire, explore or mine the Aspire property, and mineral deposits on adjacent or similar properties, and any production or economics with respect thereto, are not indicative of mineral deposits on the company's properties or the potential production from, or cost or economics of, any future mining of any of the company's mineral properties. Within the Mining License SRK is of the opinion that, based on an initial VulcanTM model, there is reasonable potential for outlining from 9 to 11 million metric tonnes (Mt) of additional coal of a quality similar to that already mined on the Mining License area. The average vertical coal thickness to coal overburden thickness ratio in the Mining License area is expected to be on the order of 1:5. The potential quantity and quality of coal is still conceptual in nature, because there has been insufficient exploration to define a mineral resource, and it is uncertain that further exploration will result in the target being delineated as a mineral resource. The VulcanTM seam model was extrapolated further across the Exploration License, with only 15 boreholes of the historical drill data covering the northern third of the area and four in the south. The model was then checked against published data from the Aspire drillholes numbers 200, 208, 228, 231, 258 and 262. These holes lie within 250 m of the eastern edge of the Exploration License. SRK found that the extrapolated seam model was between 5 m and 20 m different for the seam elevations predicted to those observed in the geophysical logs for these holes. Using surface model extrapolation techniques across the mining area and into the adjacent Aspire property to the east, the results show modest discrepancies in predicted seam elevations. This suggests that there is potential to define an additional resource of between 9 and 11 Mt across the Exploration License area, if a successful drilling and sampling campaign is undertaken. Given that the Exploration License area lies between the open pit mine and a line of Aspire drill holes, it can reasonably be expected that a bed of moderate to high CV coking coal is present across the Exploration License area. The average coal thickness to coal overburden thickness in the exploration area is expected to be on the order of 1:11. The potential quantity and quality of coal is still conceptual in nature, because there has been insufficient exploration to define a mineral resource, and it is uncertain that further exploration will result in the target being delineated as a mineral resource. Following successful completion the work, which should be completed in 2012, the company should then initiate a second phase and undertake a Pre-feasibility Study (PFS) in 2013 that can be continued through to a full Feasibility Study in 2014 to plan and recommend the best direction to implement the project, such as introducing a modern mining fleet to achieve the full potential of the mine and reduce operational costs. SRK recommends that the company develops a two phase exploration work programme over the next three years, with, an estimated expenditure of $1.5 million to attain a PFS level. SRK considers that the company should expect an additional cost of approximately $2 million - $3 million for the exploration, sampling, infrastructure, mining and environmental studies/activities necessary to complete a Feasibility Study within three years.