Pine Valley Mining Corporation announced that, further to its October 22, 2008 news release, the Toronto Stock Exchange (TSX) has de-listed the Company's shares and the securities commissions in each of British Columbia and Ontario have issued cease trade orders prohibiting trading in the Company's shares. The delisting and issuance of the cease trade orders follows the release of Pine Valley and its wholly-owned subsidiary, Globaltex Gold Mining Corporation, from protection under the Companies' Creditors Arrangement Act (Canada), which occurred on November 24, 2008 upon the issuance and filing with the Supreme Court of British Columbia by Ernst & Young Inc., monitor in the CCAA proceedings, of a certificate of completion under the definitive plan of compromise and arrangement.

Pine Valley Mining Corp. announced that the company has received approval by way of a final order from the Supreme Court of British Columbia of a definitive plan of compromise and arrangement under the Companies' Creditors Arrangement Act. Prior to receiving Court approval, the Definitive Plan was approved at a meeting of the affected creditors of Pine Valley, its wholly-owned subsidiary, Globaltex Gold Mining Corporation, and former creditors of Pine Valley's former subsidiary, Falls Mountain Coal Inc.