Aspire Mining Limited , an Australia-based junior resources
exploration company, has agreed to form a joint venture on the Shanagan Coal
Project in Mongolia with Blue Sky Minerals LLC, a Mongolian-owned mining
company. Under the terms of the agreement, Aspire Mining will have an exclusive
12-month option period to explore the project upon the payment of an AUD60,000
option fee. If Aspire spends more than AUD300,000 on exploration within the 12
months, it can earn a 51% interest in the project.