Mineralogy amending its offer to purchase common shares of Waratah Coal Inc.

Mineralogy amending its offer to purchase common shares of Waratah Coal Inc.

Mineralogy Pty Ltd. announced today that it is amending its offer to acquire, at a price of $1.41 per share, all of the common shares of Waratah Coal Inc. not already held by Mineralogy or any of its affiliates.

The amended Offer includes disclosure stating that if Mineralogy acquires shares under the Offer, it intends to pursue a statutory right of acquisition or a business combination (each a “going-private transaction”) in order to acquire all of the shares not tendered to the Offer. Mineralogy is also extending the period during which the Offer is open for acceptance until 11:59 p.m. (Toronto time) on December 5, 2008. A notice of extension and variation will be mailed to shareholders and will be available on www.sedar.com shortly.

Mineralogy is a privately-held Australian resource company controlled by Professor Clive Palmer that is engaged in the exploration for and development of mineral resources. Mineralogy has extensive experience in implementing large-scale resource development projects in Australia. For more information about Mineralogy, visit the company’s website at www.mineralogy.com.au.

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