A recently signed Collective
Agreement covering the period July 1, 2010 to June 30 2012 sets the
compensation, benefits and working conditions of Boroo Gold employees at a highly competitive level. It was
signed by representatives of the management and the Trade Union of Boroo Gold.

Both parties to the agreement have been actively collaborating for many months
to get the Government to issue the outstanding approvals required to re-start
Heap Leach and to start mining at Gatsuurt. Obtaining these approvals will
result in continuity of employment for many Boroo workers, contractors and
suppliers and will contribute significant economic and social benefits to
Mongolia and to local communities.