Modun Resource Ltd., formerly TVN Corporation Limited, has completed its 2011 drill season at its Nuurst coal project.

The drilling program began in July, and after discovering a reportedly significant coal sequence on early holes, the company shifted its focused to the south western portion of the Nuurst project. During the five months since acquiring the license for the area, Modun has obtained all approvals necessary to explore the licensed area, completed the acquisition of the Nuurst license for 100 percent ownership, obtained foreign investment approval, established an office in Ulaanbaatar, and continued to undertake negotiations on potential acquisitions of coking and thermal coal projects within Mongolia. At the site it has mobilized a drilling team that grew as large as 49 people with 4 diamond drill rigs by early November and completed 7,411 meters of diamond drilling over 26 holes.

The Nuurst Project currently has an exploration target of 200 to 300 million tons of thermal coal. Modun is on schedule to deliver a maiden JORC reportable Coal Resource in December of this year and has used its collected data for this aim. The Nuurst coal project is 120 kilometers south of Ulaanbaatar and six kilometers from existing railways in an area with a number of operating coal mines.