Source: Aspire Mining                       Date: 04 August, 2010

Aspire Mining Limited (ASX), an Australia-based junior resources exploration company, has agreed to form a joint venture on the Shanagan Coal Project in Mongolia with Blue Sky Minerals LLC, a Mongolian-owned mining company. Under the terms of the agreement, Aspire Mining will have an exclusive 12-month option period to explore the project upon the payment of an AUD60,000 option fee. If Aspire spends more than AUD300,000 on exploration within the 12 months, it can earn a 51% interest in the project.