Source: RTT News                     Date: 24 February, 2011

Khan Resources Inc. has said that the Government of Mongolia has appointed its arbitrator for the international arbitration proceedings asked for by the company. The two appointed arbitrators would now select a third arbitrator to preside over the arbitration tribunal. The procedure is expected to take upwards of 30 to 45 days.

Khan Resources formally initiated an international arbitration action against the Government of Mongolia for its expropriatory and unlawful treatment of Khan in relation to the Dornod uranium deposit located in northeastern Mongolia. The claim seeks over USD200 million in compensation for losses and damages.