Atrum Coal Limited advised of completion and final results from the 2020 drilling program at its 100%-owned Elan Hard Coking Coal Project (Elan Project) in southern Alberta, Canada. The 2020 drilling program at Isolation South comprised 125 RAB holes, 33 LDC holes and 5 HQ geotechnical and hydrogeological holes. The RAB holes were completed across a typical spacing of 100 to 200 metres. The LDC drilling was designed to reduce the spacing between coal quality data points to around 250 metres; it achieved this along with excellent core recoveries. The program had both an infill and extensional focus, aimed at significantly upgrading resource classification and potentially also expanding the Isolation South resource base. The RAB drilling program was successfully completed in September 2020, with the planned allocation of 125 RAB holes drilled for 21,500 total metres of drilling. The overall aim of the RAB drilling program was to delineate structure and demonstrate continuity of the four seam groups over the optimised pit shell extent identified in the Scoping Study. The 125 RAB holes were completed at a rapid rate due to the fast rates of penetration achieved with hammer drill bits and compressed air as the drilling medium. All holes were completed with downhole geophysical logging with gamma, density, caliper, deviation, dipmeter and sonic wireline logging undertaken. Of this total, 117 holes were drilled within the Scoping Study pit shell, reducing the typical hole spacing to 100 - 200 metres in most areas. The RAB program has resulted in a far higher degree of confidence in coal seam continuity, coal seam splitting and coalescing, subcrop zones and delineation of structural features including low angle thrust faults. The results of the RAB program tracked in-line with expectations with the average total apparent coal thickness maintaining approximately 30 metres per hole in the Scoping Study optimised pit shell area. This is consistent with expectations from the Isolation South geological and resource models for these domains. The coal intersections are also shallow, with starting depth as low as 3m below surface in areas where the coal is not capped by the Cadomin Formation. The RAB program has confirmed that the coal seams of the Mist Mountain Formation are continuous over the optimised pit shell area identified during the Scoping Study. The locations of completed RAB (plus LDC and hydrogeology) holes. LDC drilling results The LDC coring program was successfully completed earlier this week with the completion of hole ISLD20- 35, the last hole of the planned program of 33 cored holes. The 33 LDC holes drilled complement the three LDC holes that were completed in February 2020. The planned distribution of LDC holes has now been achieved, with the spacing between coal quality data points typically 250 metres or less within the Scoping Study optimised pit shell area. Success with the large diameter (150mm) method of coal coring was achieved consistently, with excellent core recovery reported for most holes (core recoveries are provided up to ISLD20-34). Some LDC holes (including ISLD20-01, 02, 04, 24 and 28) required partial or full re-drills to ensure that the coal cores from the required coal seams were sufficiently recovered in each location. The LDC program, and associated coal quality testwork, aims to demonstrate continuity of coal quality characteristics over the Isolation South area. The data acquired from the coal quality testwork will feed into the Coal Handling and Preparation Plant (CHPP) design, and determination of practical processing yield, product specification and optimisation within the current PFS. Coal cores from the LDC program were submitted to GWIL Birtley in Calgary for detailed coal quality, washability and clean coal laboratory testwork. Clean coal composites are prepared by Birtley and forwarded to COALTECH Petrographic Associates, USA (for clean coal characterisation tests). Blended products are designed by Atrum and prepared by Birtley for delivery to coal carbonisation laboratories in Europe; DMT Coal Coke Group (Germany) and INCAR (Spain). Coal and coke quality results from the first four LDC holes of the recently completed program were released last week. These results again confirmed that Isolation South clean coal and coke quality is closely correlated to the globally traded Tier 1 HCC products produced at the nearby Elk Valley mines. Further coal characterisation and large-scale carbonisation (+500kg moveable wall oven) tests are to be conducted from the total 33 LDC hole samples. Coal quality analyses on more than 400 further core samples are already in process. Seismic and LiDAR Surveys A 2D seismic acquisition program was completed on site in September 2020 by Explor Geophysical Ltd. (Explor). The 2D seismic program consisted of five individual lines across the Scoping Study optimised pit shell for a total of 5 line kilometres. After a trial line was conducted in August 2020, Explor returned to the site to undertake the program using a low impact seismic source and receiver points that are appropriate for shallow depth coal deposits. The 2D seismic program is set to assist in the interpretation of structural features, including thrust faults that result in stacking and the structurally thickened coal zones observed in some zones. The seismic reflection data is currently being processed and interpreted. An airborne LiDAR survey was flown over the Isolation South site in July 2020 and a resultant digital elevation model (DEM) has now been processed and delivered. The high accuracy LiDAR surface will be incorporated into geological models and mine planning work. Hydrogeology and geotechnical program Five multi-purpose hydrogeological /geotechnical holes were completed in the 2020 program. These boreholes are fully cored (HQ size) from the surface and are used for the assessment and monitoring of groundwater aquifers. Vibrating wire piezometers (VWPs) are being installed for the measurement of pore water pressures. The HQ core samples are also used for geotechnical logging, sampling and testing, with the overall geotechnical program oversight provided by Golder Associates. The geotechnical testwork is an important part of the program in order to provide geotechnical data to underpin PFS geotechnical design parameters.