Source: Aspire Mining                Date: 20 October, 2010

Just eight months after acquiring the Ovoot Coking Coal and the Nuramt Coal projects in Mongolia, Aspire Mining has defined an initial maiden 330.7 million tons JORC coking coal resource at Ovoot. Over 80% of the resource is in the measured and indicated categories, and 75% of the coal resource is above 250 meters vertical depth, making large scale open pit mining a distinct possibility. The Ovoot project encompasses an area of approximately 509 sq. km, with only 10% of the project area drilled to date, allowing for a potentially significant increase in the JORC resource.

Initial coal quality parameters indicate high quality coal, low in moisture.  However, follow up tests will be undertaken to establish washing yield, product specifications and coking properties.

Aspire will be looking to develop an infrastructure strategy for a rail connection from Ovoot.