U.S.-based Mongolia Forward has
opened talks with MonAtom, Mongolia’s State-owned uranium development company,
to form a joint venture to explore, mine, and process uranium in Mongolia. In
accordance with the recently enacted Mongolian Nuclear Energy Law, MonAtom will
own 51% of the project.

Leo A. Giacometto is Chairman and CEO of Mongolia Forward. He and another
company of his, GAGE International, are key advisors on multiple projects in
Mongolia including the joint venture between PepsiCo International and GN
Beverages, and Gemnet, an Internet service provider.

Promising that Mongolia Forward will bring the world’s best standards and
practices to Mongolia’s uranium mining sector, Giacometto has said in a
statement, “We intend to work side by side with MonAtom and the Mongolian
Government to create a successful and sustainable uranium fuel sector in
Mongolia.”

Mongolia Forward has several Mongolian businessmen on its Board of Directors,
along with uranium mining professionals, and political and financial notables,
such as John Bolton, former U.S. Permanent Ambassador to the UN.