Royal Coal Announces Delay to Annual Financial Statements and Interim Financial Statements Caused by COVID-19

Toronto, June 1, 2020 - Royal Coal Corp. (the "Company") announced that further to its press release of April 28, 2020, the Company wishes to provide an update with respect to: (i) the filing of its audited annual financial statements for the year end December 31, 2019 and the related management discussion and analysis ("MD&A"); and (ii) the filing of the interim financial statements and related MD&A with respect to the interim period ended March 31, 2020. The Company will invoke the blanket relief program announced on March 18, 2020 (the "Blanket Order") by the Canadian Securities Administrators (the "CSA") extending deadlines to file financial statements and related MD&A's. The Company is relying on the the relief therein for its audited financial statements, for the year end December 31, 2019, as required by Section 4.2 of National Instrument 51-102, the interim financial period ended March 31, 2020, as required by Section 4.3 of National Instrument 51-102 and the related MD&A as required by section 5.1(2) of National Instrument 51-102.

The Company estimates that the audited financial statements and the related MD&A for the year end December 31, 2019, will be filed no later than June 15, 2020 and the interim financial statements and related MD&A for the interim period ended March 31, 2020 will be filed no later than June 30, 2020.

Until the financial statements and related MD&A's are filed, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles of section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Other than as previously disclosed by the Company, there have been no material business developments since the date of the interim financial stated for the interim period ended September 30, 2019 that were filed on March 17, 2020.

For more information, please contact:

Elia Crespo
Corporate Secretary
Tel: (416) 867-9087 ext 2321
Email: elia@griffis.ca

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56988