Vancouver, British Columbia, May 25, 2012 – Khan Resources begins
trading on Canadian National Stock Exchange (CNSX).
Khan Resources Inc. is a Canadian-based company that has
interests in certain uranium properties that are located in the Dornod district
of north eastern Mongolia, a district that contains a number of known uranium deposits.
As a result of certain actions by the Mongolian Government, the Corporation”s
interests in the Dornod Properties are uncertain at this time. In January 2011,
the Corporation commenced the International Arbitration process against the
Government of Mongolia and certain of its agencies for actions taken by the
Government to effectively expropriate Khan”s licenses.
The company recently closed a private placement of 13.6 million
shares at $0.17 per share, for gross proceeds of $2.3 million. The company
plans to use these funds to advance its international arbitration case for $200
million against the Government of Mongolia and for general corporate purposes.
Khan also holds 15,523,330 common shares and 4,031,665 share
purchase warrants of Macusani Yellowcake Inc., a Canadian exploration company
listed on the TSX Venture Exchange under the symbol “YEL”. Macusani
trades at $0.185, placing a value of approximately $2.9 million on the shares
held by Khan.
Macusani holds properties and explores for uranium in the
Macusani Plateau district in southern Peru. The Corporation”s primary business
objective is to obtain value for its interests in the Dornod Properties and its
investment in Macusani.
The company currently trades at $0.155 and with approximately 68
million shares outstanding, is capitalized at approximately $10.5 million.