Mongolian Mining Corporation (“MMC”, or together with its
subsidiaries, the “Group”; HKEx: 975), is pleased to announce that
Energy Resources LLC, an indirect wholly-owned subsidiary of the Group, entered
into a long-term cooperation agreement with China Datang Overseas Investment
Co., Ltd (“Datang”) to supply middling for a period of 10 years
commencing 9 April 2012.

Middling, the high calorific value thermal coal produced as a secondary
product from the processing of coking coal, is suitable for coal-fired power
plant boilers operations. Pursuant to the agreement, the quantity of middling
to be supplied will be between 500,000 and 2,000,000 tonnes annually, depending
on the availability of the product. The product price will be set based on
market price, and will be subject to periodic review.

Dr. Battsengel Gotov, CEO of MMC, commented, “The cooperation agreement
presents opportunities to boost our average revenue and operational efficiency,
as well as to diversify our revenue sources. We are proud to work with Datang,
the leading power generation enterprise in China,
as one of our end-use customers, and look forward to the long-term mutual
benefits from our collaborative relationship.”

Datang is one of the leading state-owned power generation enterprises in China specialized mainly in power production and
supply, power-related coal mine development and production as well as related
professional technical services. Currently, Datang has carried out a wide range
of businesses, including hydropower, coal-fired power, wind power, nuclear
power, coal mining, mineral resources and international trade.

About Mongolian Mining Corporation (MMC)

Mongolian Mining Corporation (MMC, or together with its subsidiaries, the
“Group”; HKEx: 975) is the largest producer and exporter of
high-quality hard coking coal in Mongolia. It
owns and operates an open-pit coking coal mine at the Ukhaa Khudag
(“UHG”) deposit located within the Tavan Tolgoi (“TT”) coal
formation, as well as the Baruun Naran (“BN”) coking coal deposit,
both located in South Gobi, Mongolia.

In June 2011, MMC”s coal handling and
preparation plant (“CHPP”) at the UHG mine was successfully
commissioned. The first of its kind in Mongolia,
the new plant enables the Company to boost its competitiveness in the world
market and solidifies MMC”s position as the leading coking coal miner in Mongolia.

MMC was listed on the HKEx in October 2010, and
was selected as a constituent stock of the FTSE Hong Kong Index in March 2012.