Source: Aspire Mining                     Date: 17 February, 2011

Aspire Mining Limited has engaged a drilling contractor for the 2011 season and a drill rig is expected to be mobilized to site by the end of this month. Aspire have also received preliminary analysis of new drill data from the company's 100%-owned Ovoot Coking Coal Project which shows that the seismic geophysical program has successfully identified faulting basement and location of coal seams. The data is currently being processed and analyzed following the completion of a 2-D seismic campaign which has been ongoing through the Mongolian winter since drilling finished in October 2010.

"We should receive the results of this data analysis shortly, which will be vital to better understand the Ovoot coking coal deposit and to fully determine our 2011 exploration strategy", said Managing Director David Paull.

The Aspire Board has approved a 10,000 meter drill program for Ovoot in 2011, largely to extend its coal resource base at Ovoot and further advance exploration within the basin. Aspire's 2011 drill program will also target additional near-surface coal seams. This will boost the resource base and potential for open pit operations at Ovoot. Geotechnical drilling and infill holes are planned to further assist with mine planning for an initial box-cut entry to the deposit.

Aspire has commenced a study to investigate low capital expenditure options to direct ship up to a million tons of unwashed coking coal from Ovoot via road to rail facilities at Erdenet. Once loaded onto a train at Erdenet, product can then be transported to markets in China, Japan and Korea. Aspire is targeting first production from Ovoot by the December quarter, 2012, but initial export will rely on the completion of the construction of a sealed road from Moron to Erdenet. Construction of this road is in progress and completion anticipated by late 2012.