TORONTO, ONTARIO--(Marketwire - June 2, 2008) - The Prime Minister of Mongolia, S.Bayar, and General Director of the state-owned Russian Corporation "Rossatom", S.V.Kiryenko, visited Central Asian Uranium Company, (CAUC) and Khan Resources Inc.'s (Khan) (TSX:KRI) Dornod uranium site on May 26, 2008. Following the official visit by Prime Minister S. Bayar to Russia in April 2008, and the signing of cooperation agreements between Mongolia and Russia in exploring and developing uranium mines, the Prime Minister invited Mr. Kiryenko to visit the Canadian, Mongolian and Russian joint venture company, CAUC, at the Dornod uranium mine site in north eastern Mongolia.
Khan, a Canadian company, owns a 58% interest in CAUC, and the remaining shares are equally owned by the Mongolian government and the Russian state owned company Priargunsky Production Mining-Chemical Association (Priargunsky), which is owned by Rossatom Corporation. CAUC holds the only uranium mining license in Mongolia and the Dornod mine was in production under Priargunsky between 1988-1995. In addition, Khan holds 100% of an exploration license covering an adjoining property. During the one day visit, Khan management provided the guests with a presentation on the status of the project, the results from the Pre-Feasibility Study and Environmental Impact Assessment, progress on the ongoing Definitive Feasibility Study, and Mongolian resource and reserve calculations.
After the meeting, the Prime Minister and Mr. Kiryenko made a site tour of the Dornod minesite, and then continued on to Russia to visit the Priargunsky processing and mining operations. Khan expects this visit by the top officials of the joint venture partnership to play an important role in the future development of the Dornod uranium project. Khan looks forward to commencing negotiations with its partners, once the situation in Mongolia regarding development of the uranium mining industry, is clarified.
Offer for Western Prospector Group Ltd.
On May 11, 2008, Khan Resources announced its intention to make an offer (the "Offer") for all of the outstanding common shares of Western Prospector Group Ltd. ("Western Prospector"), together with the associated rights issued under Western Prospector's shareholder rights plan. Khan Resources' offer and circular dated May 12, 2008 and other documents related to the Offer were filed with the securities regulatory authorities in Canada and the United States on May 12, 2008. Western Prospector shareholders are urged to read the offer and circular and related Offer materials as they contain important information including the terms and conditions of the Offer and the procedures for depositing shares of Western Prospector. Copies of the offer and circular and related materials are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov and are available on Khan Resources' website at www.khanresources.com.
Additional Information
The Offer is made for the securities of a Canadian issuer and the offer documents have been prepared in accordance with the disclosure requirements of Canada. Shareholders should be aware that such requirements are different from those of the United States. Financial statements included or incorporated by reference in the offer documents have been prepared in accordance with Canadian generally accepted accounting principles, and are subject to Canadian auditing and auditor independence standards, and thus may not be comparable to the financial statements of United States companies.
The enforcement by Western Prospector's shareholders of civil liabilities under United States federal securities laws may be affected adversely by the fact that Khan Resources is incorporated under the laws of the Province of Ontario, Canada, that Western Prospector is incorporated under the laws of the Province of British Columbia, Canada, and that a majority of Khan Resources' officers and directors are residents of Canada and some of Western Prospector's officers and directors are residents of Canada, that Kingsdale Shareholder Services Inc., the depositary and information agent for the Offer and some or all of the experts named in the offer documents may be residents of jurisdictions outside of the United States, and that all or a substantial portion of the assets of Khan Resources and Western Prospector and of the above mentioned persons may be located outside of the United States. You may not be able to sue Khan Resources, Western Prospector, or their respective officers or directors in a foreign court for violations of the US securities laws. It may be difficult to compel Khan Resources, Western Prospector and their respective affiliates to subject themselves to a US court's judgment.
You should be aware that Khan Resources or its affiliates, directly or indirectly, may bid for and make purchases of common shares of Western Prospector during the period of the Offer, as permitted by applicable Canadian or provincial laws or regulations.
This press release may contain forward-looking statements, which are subject to certain risks, uncertainties and assumptions. A number of factors could cause actual results to differ materially from the results discussed in such statements, and there is no assurance that actual results will be consistent with them. Such forward-looking statements are made as at the date of this news release, and the company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Khan Resources (TSX:KRI) is a Canadian acquisition, exploration and uranium development company. Its current activities are focused on the Dornod area in north eastern Mongolia, the site of a former Russian open-pit uranium mine. Khan holds interests in the Main Dornod Property, licensed for mining, and in the Additional Dornod Property, licensed for exploration. The Company's website is www.khanresources.com.
From
http://www.marketwire.com/mw/release.do?id=863738
Jun 02, 2008 17:51
Thursday, June 5, 2008
Ivanhoe Still Talking With Mongolia on Copper Mine
By Brett Foley
June 3 (Bloomberg) -- Ivanhoe Mines Ltd., the developer of the Oyu Tolgoi copper and gold mine in Mongolia, is still talking with the government to secure an investment agreement, the company's founder said.
``The prime minister has vowed to conclude our agreement as soon as possible,'' Chairman Robert Friedland said in a presentation at the World Mining Investment Congress today in London. The first shaft at Oyu Tolgoi has been sunk and the second is under construction, Friedland said.
Oyu Tolgoi is owned by Canada's Ivanhoe. Rio Tinto Group, the world's third-largest mining company, agreed in 2006 to buy 10 percent of the company and may raise its stake by converting a credit line provided to develop the mine. The project is about 80 kilometers (50 miles) north of Mongolia's border with China.
The deposit's current estimated metal content is ``a tiny fraction of what is actually there,'' Friedland said. In March, Ivanhoe raised the estimated resource to 78.9 billion pounds of measured, indicated and inferred copper and 45.2 million ounces of gold.
Ivanhoe dropped 9 cents, or 1 percent, to C$9.30 at 4:27 p.m. in Toronto Stock Exchange trading, bringing this year's decline to 14 percent.
From
http://www.bloomberg.com/apps/news?pid=20601082&sid=avxW4h2ZahYI&refer=canada
June 3 (Bloomberg) -- Ivanhoe Mines Ltd., the developer of the Oyu Tolgoi copper and gold mine in Mongolia, is still talking with the government to secure an investment agreement, the company's founder said.
``The prime minister has vowed to conclude our agreement as soon as possible,'' Chairman Robert Friedland said in a presentation at the World Mining Investment Congress today in London. The first shaft at Oyu Tolgoi has been sunk and the second is under construction, Friedland said.
Oyu Tolgoi is owned by Canada's Ivanhoe. Rio Tinto Group, the world's third-largest mining company, agreed in 2006 to buy 10 percent of the company and may raise its stake by converting a credit line provided to develop the mine. The project is about 80 kilometers (50 miles) north of Mongolia's border with China.
The deposit's current estimated metal content is ``a tiny fraction of what is actually there,'' Friedland said. In March, Ivanhoe raised the estimated resource to 78.9 billion pounds of measured, indicated and inferred copper and 45.2 million ounces of gold.
Ivanhoe dropped 9 cents, or 1 percent, to C$9.30 at 4:27 p.m. in Toronto Stock Exchange trading, bringing this year's decline to 14 percent.
From
http://www.bloomberg.com/apps/news?pid=20601082&sid=avxW4h2ZahYI&refer=canada
Inner Mongolia: Dissident Arrested in Beijing
Inner Mongolian dissident, Jiranbayariin Soyolt has been arrested in Beijing on false accusations. His whereabouts remain unclear as Chinese officials refuse access to him.
Below is an article published by the Southern Mongolian Human Rights Information Center:
Jiranbayariin Soyolt, a Southern (Inner) Mongolian dissident in exile and a citizen of Mongolia, was arrested in Beijing Capital Airport on January 6, 2008, while on a business trip to China along with two other Mongolian citizens Mr. Purevsuren, President of Mon-Energeo HHK, and Mr. Bat-Erdene, partner of Purevsuren. The three left Ulaanbaatar, capital of Mongolia, on January 6 [2008], 11:45 AM, with Air China airline and arrived at the Beijing Capital Airport on January 6 [2008], 1:00 PM.
According to a written communication to SMHRIC [Southern Mongolian Human Rights Information Center] by Ms. Tuyaa, wife of Soyolt, Purevsuren and Bat-Erden entered the airport customs check followed by Soyolt. After waiting for Soyolt outside the customs check for two hours, Purevsuren and Bat-Erden returned to the customs counter to inquire about the reason for Soyolt’s delay. At the customs counter, they saw Soyolt in handcuffs surrounded by 5 policemen. Upon seeing them, Soyolt told them that he has been arrested by the Chinese police and asked them to contact his family and the Mongolian Embassy in Beijing immediately on his behalf. Purevsuren contacted Soyolt’s family immediately to inform the family members of what had happened to Soyolt in Beijing.
Soyolt’s family members in Ulaanbaatar immediately sent an appeal to the Ministry of Foreign Affairs of Mongolia calling for Soyolt’s immediate release. The Ministry acted promptly to contact the Chinese authorities and assigned Soyolt’s case to its foreign affairs officer, Mr. Boldoo. Since the arrest, Soyolt’s family has been in frequent contact with the foreign affairs office.
On January 11 [2008], according to Tuyaa, Soyolt was forced by the Chinese authorities to contact Purevsuren by telephone from Beijing to tell him that he is still being held in Beijing for “some issue” with his passport, and asked Purevsuren and others not to reveal anything about his arrest to any foreign news media in order not to “make things worse”. Under this threat, family members and friends of Soyolt have kept quiet and waited for his release until fairly recently. However, a series of official notes and requests by the Mongolian Government regarding the case have been completely ignored by the Chinese Government.
Soyolt’s wife, Ms. Tuyaa accompanied by Mr. Purevsuren travelled to Beijing on January 28 [2008], and met with officials of the Embassy of Mongolia to Beijing. On January 31 [2008], on behalf of Soyolt’s family members, Mr. Badamnyambuu, director of the Consular Office of the Embassy, and Purevsuren visited Public Security authorities in Beijing and met with a top official there to express their concern on Soyolt’s case. The Beijing Public Security authorities confirmed that Soyolt did enter China through Beijing Capital Airport on January 6, 2008 even though they had previously repeatedly denied any knowledge of Soyolt’s whereabouts.
SMHRIC has contacted the Consular Office director Badamnyambuu in Beijing however he declined to provide any information on the case, stating that “it is inappropriate for me to explain it over the phone”. SMHRIC also contacted the Beijing Airport Security Department and the Custom Check Office over the phone. All refused to provide any information on the case.
Jiranbayariin Soyolt, a long-term dissident, human rights activist and one of the founding members of several exiled groups based in Mongolia, was born in central Southern Mongolia’s Shiliin-gol League. He was one of the leaders of the 1981 Mongolian Student Movement, a mass protest by ethnic Mongolian students and intellectuals against the Chinese Central Government’s plan for migrating 600,000 Hans into Southern Mongolia without any consultation with local Mongols. In 1992, he went into exile in the independent country of Mongolia and continued his human rights activities, criticizing the Chinese Government’s ethnic policy and defending the human rights of the Mongols in China. In 1993, Soyolt attended the World Mongolian Alliance First Congress in Ulaanbaatar, Mongolia, and gave a speech publicly criticizing China’s gross human rights violations in Southern Mongolia and called the Chinese ethnic policy as “a policy of ethnic cleansing and cultural genocide”. Later he was granted political asylum in Mongolia, and in 1997 he was granted citizenship of Mongolia under the Naturalization Act of Mongolia.
Below is an article published by the Southern Mongolian Human Rights Information Center:
Jiranbayariin Soyolt, a Southern (Inner) Mongolian dissident in exile and a citizen of Mongolia, was arrested in Beijing Capital Airport on January 6, 2008, while on a business trip to China along with two other Mongolian citizens Mr. Purevsuren, President of Mon-Energeo HHK, and Mr. Bat-Erdene, partner of Purevsuren. The three left Ulaanbaatar, capital of Mongolia, on January 6 [2008], 11:45 AM, with Air China airline and arrived at the Beijing Capital Airport on January 6 [2008], 1:00 PM.
According to a written communication to SMHRIC [Southern Mongolian Human Rights Information Center] by Ms. Tuyaa, wife of Soyolt, Purevsuren and Bat-Erden entered the airport customs check followed by Soyolt. After waiting for Soyolt outside the customs check for two hours, Purevsuren and Bat-Erden returned to the customs counter to inquire about the reason for Soyolt’s delay. At the customs counter, they saw Soyolt in handcuffs surrounded by 5 policemen. Upon seeing them, Soyolt told them that he has been arrested by the Chinese police and asked them to contact his family and the Mongolian Embassy in Beijing immediately on his behalf. Purevsuren contacted Soyolt’s family immediately to inform the family members of what had happened to Soyolt in Beijing.
Soyolt’s family members in Ulaanbaatar immediately sent an appeal to the Ministry of Foreign Affairs of Mongolia calling for Soyolt’s immediate release. The Ministry acted promptly to contact the Chinese authorities and assigned Soyolt’s case to its foreign affairs officer, Mr. Boldoo. Since the arrest, Soyolt’s family has been in frequent contact with the foreign affairs office.
On January 11 [2008], according to Tuyaa, Soyolt was forced by the Chinese authorities to contact Purevsuren by telephone from Beijing to tell him that he is still being held in Beijing for “some issue” with his passport, and asked Purevsuren and others not to reveal anything about his arrest to any foreign news media in order not to “make things worse”. Under this threat, family members and friends of Soyolt have kept quiet and waited for his release until fairly recently. However, a series of official notes and requests by the Mongolian Government regarding the case have been completely ignored by the Chinese Government.
Soyolt’s wife, Ms. Tuyaa accompanied by Mr. Purevsuren travelled to Beijing on January 28 [2008], and met with officials of the Embassy of Mongolia to Beijing. On January 31 [2008], on behalf of Soyolt’s family members, Mr. Badamnyambuu, director of the Consular Office of the Embassy, and Purevsuren visited Public Security authorities in Beijing and met with a top official there to express their concern on Soyolt’s case. The Beijing Public Security authorities confirmed that Soyolt did enter China through Beijing Capital Airport on January 6, 2008 even though they had previously repeatedly denied any knowledge of Soyolt’s whereabouts.
SMHRIC has contacted the Consular Office director Badamnyambuu in Beijing however he declined to provide any information on the case, stating that “it is inappropriate for me to explain it over the phone”. SMHRIC also contacted the Beijing Airport Security Department and the Custom Check Office over the phone. All refused to provide any information on the case.
Jiranbayariin Soyolt, a long-term dissident, human rights activist and one of the founding members of several exiled groups based in Mongolia, was born in central Southern Mongolia’s Shiliin-gol League. He was one of the leaders of the 1981 Mongolian Student Movement, a mass protest by ethnic Mongolian students and intellectuals against the Chinese Central Government’s plan for migrating 600,000 Hans into Southern Mongolia without any consultation with local Mongols. In 1992, he went into exile in the independent country of Mongolia and continued his human rights activities, criticizing the Chinese Government’s ethnic policy and defending the human rights of the Mongols in China. In 1993, Soyolt attended the World Mongolian Alliance First Congress in Ulaanbaatar, Mongolia, and gave a speech publicly criticizing China’s gross human rights violations in Southern Mongolia and called the Chinese ethnic policy as “a policy of ethnic cleansing and cultural genocide”. Later he was granted political asylum in Mongolia, and in 1997 he was granted citizenship of Mongolia under the Naturalization Act of Mongolia.
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