In line with SharynGol”s initiatives
to act as a market leader for transparency among Mongolian Stock Exchange
(“MSE”) listed companies, management is pleased to announce that
Ernst & Young has completed the audit of SharynGol”s 2009
accounts. The Ernst & Young audited accounts will not replace the 2009
accounts already approved by the board and shareholders. Instead, the
accounts represent an important milestone in management”s continued efforts to
bring the company into compliance with global standard for business practices.

To the best of management”s
knowledge this marks the first time that a MSE listed company has produced and
made available to shareholders audited financial statements by a Big Four
international accounting firm.

SharynGol JSC (SHG MO: MSE) has a
coal mining operation located in Northern Mongolia. It currently owns and
operates 100% of the established SharynGol Coal Mine. The Company was
privatised and listed on the Mongolian Stock Exchange in 2003.

The Company has been mining coal at
SharynGol for over 45 years, supplying domestic and export customers with coal
for thermal and semi-coking (smokeless fuel) uses.

A dedicated rail spur links the mine
to the Trans-Mongolian railroad, currently Mongolia”s main railway connecting
Mongolia to the major markets of Russia and China. This exclusive access to the
rail spur provides the Company with a significant competitive advantage over
the majority of coal mining operations in Mongolia.