Jinshan Gold Mines Inc. has entered into a memorandum of understanding with Monnis International Inc. to jointly explore and develop gold projects in Mongolia.

Since its establishment in 1998 as an official distributor of Nissan Motor Co. in Mongolia, Monnis has expanded its activities and is now active in the fields of geology, mining, energy, construction, international freight forwarding, foreign trade, automotive service, communication, banking, and air industry, with over 600 employees. Jinshan is a Canadian mining company and is actively advancing its portfolio of gold exploration properties in China.

Jinshan and Monnis will have 51 per cent and 49 per cent equity interest, respectively, in the acquired projects. Jinshan will control and manage them.