Atrum Coal Limited advised of a decision announced by the Government of Alberta to reinstate the previously rescinded Coal Development Policy for Alberta (1976) Coal Policy). Atrum's Elan Hard Coking Coal Project (Elan Project) is located on what had been designated Category 2 land under the Coal Policy. The Albertan Government has also announced that it plans to consult with Albertans in formulating a new, modern coal policy. Atrum believes that this is an important and necessary step towards achieving greater certainty while also balancing and resolving the views of Albertans with respect to responsible resource development. In addition to reinstating the Coal Policy, the Minister of Energy has issued a directive to the Alberta Energy Regulator (AER) that: No mountaintop removal will be permitted and all restrictions under the 1976 coal categories are to apply, including all restrictions on surface mining in Category 2 lands. All future coal exploration approvals on Category 2 lands will be prohibited pending widespread consultations on a new coal policy. The AER has subsequently commented publicly that `mountaintop removal' and open-pit mining are considered different methods of surface mining (`mountaintop removal' being where a proposed mine completely removes the top of a mountain). The AER has further commented publicly that it is not aware of any current or proposed future projects in Category 2 lands that would involve mountaintop removal. There has been exemption granted in the past to allow open pit mining on Category 2 land (exemption to Ram River Coal Corporation in 2016) and Atrum is seeking greater clarity under what conditions open pit mining will be allowed under the new coal policy. Atrum is able to continue activities on the Elan Project already approved under its 2020 Coal Exploration Permit (CEP). However, Atrum confirms that it has halted all significant site-based activities, including any planned drilling in 2021, with the exception of baseline environmental study work that is required to ensure the continuity and integrity of work done in previous years. This decision has been taken in order to preserve cash and allocate due focus and effort to the stakeholder consultation process. Cost reduction measures are being implemented to reflect the now significantly lower level of site activities expected in 2021.