APAC Coal Limited “(APAC”) has a 30 Year Concession to explore for coal over a 23,124 ha parcel of land in East Kalimantan, Indonesia. A JORC compliant resource of 5.1 million tonnes has been identified which is expected to form the basis of an initial mining operation. This resource occurs within a very small area of the Concession(3.8%) with over 90% of the Concession yet to be explored to any significant degree. Kalimantan is the principal coal producing region of Indonesia, the world's 7th largest coal producer. APAC is a subsidiary of Singapore listed Magnus Energy Group Ltd (“Magnus”), which operates in the upstream petroleum and coal business. Magnus has committed to providing a low cost Management and Finance Team in the initial phase of the development of APAC.