1. Becoming Colombia’s Leading Independent Coal Producer
April 2012
TSXV: PAK

2. Disclaimer
Forward Looking Statement
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.
2

3. 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)
LEADING
INDEPENDENT
Seek opportunities to secure access to markets
and ensure commercial flexibility COLOMBIAN
COAL
Foster a corporate environment of responsible
PRODUCER
citizenship
3

4. Strategy
• 100% ownership and
RAW MATERIAL control of La Caypa,
PRODUCTION Cerro Largo and La Tigra
• Company owns 92% of
(UPSTREAM) CI Jam
CAW/CCW plant
• 50% equity interest
• Carried interest for
50/50 JV
• Upgraded coke production
MANUFACTURING/ • Colloidal asphaltite in water (“CAW”)*
PROCESSING • Colloidal coal in water (“CCW”)* Pyrolysis plant
(MIDSTREAM) • 100% equity interest
• Pyrolysis
• Marketing of colloidal products to:
• Power generation plants
RETAIL/MARKETING • Heavy oil producing companies and refineries
(DOWNSTREAM) • Marketing of thermal coal
• Marketing of coke
Vertical integration to secure market access in value-added product streams
4

5. Capital Structure
 Pacific Coal became a publicly listed company via RTO on March 14, 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
 As at January 31, 2012, 11.2 million shares have been purchased for cancellation under the normal
course issuer bid
Pacific Coal (TSXV: PAK)
Shares outstanding: 322 million
Options (vested & exercisable) 35.8 million
Warrants outstanding with weighted avg. exercise price of $2.10(1) 75.1 million
Fully diluted: 437.2 million
Market cap (basic): $114.3 million (2)
Cash (September 30, 2011) $14.3 million
Long-term debt (3) (September 30, 2011) $32.0 million
Enterprise value $141.7 million
(1)
Expiry date March 14, 2016
(2)
Based on closing price of $0.355 on 3/20/2012
(3)
Includes finance leases 5

6. Pacific Coal
Fully Funded Capex 2011-2012
Exploration = $10 m Development = $15 m Acquisitions = $125 m Infrastructure = $17 m Equipment = $15 m
Pending* = $9 m Pending* = $2.5 m Pending* = $15 m Pending* = $13 m Pending* = $5 m
• Drilling at Cerro Largo • South pit expansion at • Paying Cerro Largo • Completion of Coking • Double body trailers
to update NI43-101 La Caypa (Royalties) contract to Masering Infrastructure (Trucks were acquired
• Drilling, mapping and • Paying Barranquilla • Barranquilla Port setup via leasing)
geophysics at La Tigra Port outstanding debt • Exploration drills
• Drilling in Catatumbo • Closing 86% Cerro • Equipment for South
• Drilling La Caypa for Largo Pit operations
underground mine • Blue ACF investment • Other equipment
design
* As at September 2011
6

7. Executive Management
Strong and Experienced Team
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
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.
Jose Ignacio Noguera (Vice President, Public Relations & Corporate Social Responsibility)
 A lawyer with over 20 years experience in the resource industry, holding positions as legal counsel, public affairs, government
relations, and community relations. During the last 8 years, he was the Public and Government Affairs Manager of ExxonMobil
Investor Relations Advice and Support Provided by The Capital Lab Inc.
 Belinda Labatte, Principal
 Greg DiTomaso, Director Investor Relations and Special Projects
7

8. Asset Summary
Diverse Portfolio of High Quality Coal Assets
Well-positioned portfolio with diversified current and future production of steam coal, coke and asphaltite
Puerto Brisa
Port of Santa Marta 1
1
Port Barranquilla 5
1
2
2 4
Medellin
3 Bogota 3
Cali
4
5
Source: Management estimates
*Annualized rate
1 La Caypa produced 1,239,583 tonnes 2011 8
2 Cerro Largo produced 298,041 tonnes in 2011; Q1 production of 110,875 tonnes was prior to Pacific Coal acquisition of Cerro Largo

9. Thermal Coal Production Profile
Robust production growth from existing assets with additional greenfield and consolidation opportunities
Total Production
Annual Production (millions of tonnes)
Cerro Largo 3.4-3.6
La Caypa
2.7-2.9
2.6-2.9
1.5
1.2
2010A 2011A 2012E 2013E 2014E
Source: Management estimates
*Includes total production from Cerro Largo Q1/2011, before the acquisition closed
9

10. Coke Production Profile
High value coke operation with long mine life and coal to coke conversion of ~70%
 Operational adjustments
during the first year of 90,000-1 90,000-1
operations resulted in 20,000 20,000
reduced production Annual Production in tonnes CI Jam
guidance for 2011
(7,000 t of coke)
 These adjustments also
60,000-72,00
allowed for infrastructure 0
and capacity to be built
up, resulting in longer-
term production targets
being achieved sooner
7,000
2010A 2011A 2012E 2013E 2014E
Source: Management estimates
10

11. La Caypa Mine
Significant Thermal Coal Production
High quality steam coal production with attractive expansion and underground potential
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
(1)
2011 Production • 1,239,583 t
Projected Costs (2): • US$85/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: • 6.59:1
(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
11

12. La Caypa Mine
South Pit Expansion to Extend Mine Life
Potential incremental production of 1.0 Mt per annum
 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)
 South pit development to be concurrent with existing mining operations
SECTOR +400
(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

13. La Caypa Mine
Underground Production to Drive Growth
Underground potential to drive resource expansion and continued growth in production(1)
 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
EXISTING OPEN PIT
ELEVATION: 0 Level 1
Cradle
ELEVATION: -150
Level 1
ELEVATION: -300
Level 2
(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

14. Cerro Largo – La Divisa
Acquisition of Significant Coal Production
Contains high volatile bituminous type B coal with high calorific values and low sulphur
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: • 11.6 Mt – 21.2 Mt inferred (1)
Area: •488 hectares
Average BTU: • 12,000 (1)
Average Sulphur: • 0.78% (1)
Operations: • One open-pit mine currently operating
Projected Costs (2): • US$80/t, expected to lower US$2/year with
improved efficiencies and strip ratio
2011 Production • 298,041*
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: • 20.64:1 (during ramp up)
• Long-term mine plan has been implemented
(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
* Q1/2011 production of Cerro Largo was prior to Pacific Coal acquisition 14

15. Regional Infrastructure
Proximity to Infrastructure Supporting Growth
Significant port and road infrastructure in place to support existing regional coal production
Puerto Bolivar
 Secured 1.8 Mtpa of stockpiling and
shipping capacity at the Port of Santa
Port of Santa Marta Puerto Brisa Marta until 2013
Barranquilla  Production trucked 250 km by paved
Port La Caypa
highway to Santa Marta at a cost of
Barranquilla
approximately US$20-$23 per tonne
Cartagena from La Caypa and 280 km from Cerro
Cartagena Port
Largo at a cost of approximately
Cerro Largo US$23-US$24
 Expected capacity at Puerto Brisa
Panama provides alternative port location closer
Catatumbo to both La Caypa and Cerro Largo with
potential to reduce freight costs by
Venezuela 40%-50% and by 30%-40%, respectively
Colombia La Tigra  Puerto Brisa construction
expected to be completed by
r
ve
Ri
a
r
Q1/2013, providing additional 35
uc
ve
Ca
Ri
a
Mt of specialized coal shipping
len
da
CI Jam
ag
capacity
M
Legend
River Transport Coal Mine Coal Project Road Ports 15

16. CI Jam
Coking Coal and Upgraded Coke Production
Underground coking coal operation selling premium coke into high price environment
Location: • Samaca Municipality, in Department of Boyaca
• 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
2011 Production: • 7,000 tonnes of coke
Avg Market Price: • US$280/t
Infrastructure: • Well maintained roads to truck coke to domestic markets
and to port terminals (800 km to Barranquilla)
Status: • Completed refurbishment of 160 beehive coking ovens
• Completed refurbishment of coker infrastructure
• Currently building additional 100 ovens to bring capacity to
120,000 tpa
(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
16

17. Port of Barranquilla
Investing in Long-Term Port Access for Coke
 Pacific Coal acquired a port concession 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. Excess capacity at the port can be
monetized by selling to other exporters
 Pacific Coal plans to tender for engineering, construction and procurement by Q3/2012, expecting to have an early start on coal
loading operations with a provisional set-up for Q3/2012
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
BARRANQUILLA
CONCESSION  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

18. La Tigra’s Asphaltite
Profile
Asphaltites are species of bitumen, dark-colored, comparatively hard
and non-volatile solids, composed principally of hydrocarbons. Gilsonite
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.
Grahamite
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 Q3/2012 La Tigra outcrop
• Production start planned for Q1/2013
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
18

19. La Tigra’s Asphaltite Applications
Proven Applications Applications in Evaluation Phase
Asphalt modifiers Colloidal Asphaltite in Water (“CAW”)
•Oil drilling and mud additive •Crushed asphaltite, suspended in water forming a colloid, can
•Metal casings be used as fuel by power generators
•Paving/roofing asphalts •PAK and Blue ACF are in the process of developing a pilot
•Paint resins plant test for CAW at Babcock & Wilcox facilities in Ohio, USA
•Trials on track at Babcock & Wilcox
Pyrolysis
•Significant marketing opportunities as CAW can be sold as a
•Extensively used technology at the industrial level fuel oil substitute
•Management foresees strong market demand for CAW in
•Converts asphaltite to valuable liquid and gas products, and
Central America and the Caribbean
pet coke
•Pet coke is a by-product produced through pyrolysis
Colloidal Coal in Water (“CCW”)
•Prefeasibility study indicates excellent economics based on •Similar to CAW, but using coal instead of asphaltite
lab tests conducted with Colombia grahamite and gilsonite
•Blue ACF will conduct CCW trials at Babcock & Wilcox in May
•High margin application, potential for substantial volumes 2012
•Feasibility study in progress in order to select the specific
technology and to conduct pilot plant tests (100% PAK)
PAK has investment option in the development
of the CAW and CCW plants (50%)
19

20. Pacific Coal
Health, Safety and Community
Health and Safety Mission: Achieve Health and Safety goals through stewardship, integrity, and empowerment
The Company seeks to continuously reduce the number of workplace and operational safety incidents, with the ultimate
goal of achieving the lowest accident frequency rates in the industry
• The Company strives for eco-friendly operations wherever possible, by forming strategic alliances with environmental
corporations
• The Company seeks to work with partners with high health and safety policies and standards
• The Company encourages its employees to participate actively in safety initiatives and prevention programs
• All of our employees take part in our community health programs as both volunteers and patients
• The Company maintains weekly updates of its safety performance indicators
Community Mission: 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
• The Company aligns its initiatives with the needs and activities of local governments, to contribute to the nation’s progress
• The Company works closely with non-profit organizations to maximize its community efforts
• The Company ensures responsible operations by minimizing wherever possible its impact on the environment
20

21. Pacific Coal
Achievement Scorecard
Achieved In Progress
Completion of amended NI 43-101 at La Caypa and Cerro Largo O
Commencement of development of south pit expansion / O
Commencement surface work for underground at La Caypa 
Implementation of integrated mine plan at Cerro Largo O
Transition from Port of Santa Marta to Puerto Brisa, reducing freight O
costs by 30%-50%
Completion of refurbishment of 160 beehive coking ovens at CI Jam 
Building additional 100 beehive 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
CAW tests and trials 
CCW tests and trials O
21

22. Pacific Coal
Summary
Strategically located, high-quality projects in a world-class jurisdiction with significant growth potential
 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
22

23. APPENDIX
23

24. Colombia
A World-Class Coal District
Catatumbo LA GUAJIRA DEPARTMENT
La Tigra
Cerrejon
(BHP/Xstrata/Anglo)
CI Jam  Colombia is the world’s 10th largest producer (76
La Caypa
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
CESAR DEPARTMENT reserves and 17 billion tonnes of potential reserves
El Descanso
(Drummond) Calenturitas
El Hatillo
(Glencore)
 Colombia’s estimated 2011 coal production is 85
La Francia
(Vale)
million to 95 million tonnes
(Goldman Sachs)
Cerro Largo La Jagua
(Glencore)
Pribbenow
(Drummond)
Source: Ingeominas Colombian Institute of Geology and Mining; Energy Information Administration; Reuters; Intierra
24

25. Colombia
A World-Class Coal District
Colombia is a significant coal mining region with 2012 production forecast to exceed 87 million tonnes*
Colombian Coal Production (Mt) DMTU Thermal Coal Price (FOB Puerto Bolivar)
$250 Colombian Coal
prices up over 60%
since January 2010
$200
$150
$100
$50
$0
2012E*
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
*Economist Intelligence Unit
25

26. Valuation Metrics
Opportunity For Re-evaluation
As at March 20, 2012
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 26

27. Becoming Colombia’s Leading Independent Coal Producer
April 2012
TSXV: PAK
27