SharynGol JSC has
successfully completed a 16,000-meter diamond drilling program, with the aim of
establishing a JORC standard resource over the company”s mining lease. The
drilling has proved all of the coal seams identified by historic Soviet
drilling, as well as encountered several previously undiscovered coal seams,
representing an important new discovery. An international mining consultancy
has been engaged to produce a three dimensional model of the coal seams. The
consultant”s report, which will include a revised resource estimate, is
expected to be released later in the year. Management anticipates that the
report will demonstrate a significant increase in coal resources for the
project.