🕐18.07.11 - 02:27 Uhr

HUNNU COAL [ASX: HUN] - MINING LICENCE GRANTED FOR TSANT UUL PROJECT





Fortbridge Media Release

Hunnu Coal [ASX: HUN] - Mining Licence Granted for Tsant Uul Project

Hunnu Coal (ASX: HUN) announces that the Mineral Authority of Mongolia has granted a mining licence MV - 016872 for the Tsant Uul Project, covering total area of 69,233 ha.

Key points:

* Targeting commencement of mining in the last quarter of 2011.
* Targeting initial production of 1.5Mt of coal in 2012 and 3Mt in 2013.
* Owner operator mining fleet currently being purchased with initial purchases including six CAT 773 Dump Trucks and a Hitachi 1200 excavator. Additional purchases underway.
* Exploration and development drilling now totaling 56,101 metres of diamond drill core and RC since discovery of the Tsant Uul Deposit in middle of 2010.
* Study for a coal haulage access road from Tsant Uul Mine site to the existing coal haulage road has been completed and is currently under Government approval process.
* An update of the Tsant Uul Project JORC Resources is being completed. The Companys exploration target for the Tsant Uul Project is for 150 - 200Mt.*
* Final test work and off take agreements progressing well.
* New Coal discovery 7km north of the Tsant Uul Deposit, with drilling currently underway.

The Tsant Uul Project mining licence has been granted for an initial term of 30 years with an option for twenty years extension twice, providing a total of 70 years of mining operations.

The Tsant Uul Project is located in the World Class South Gobi Coal Province of southern Mongolia, approximately 40km to the south of the giant Tavan Tolgoi Coking Coal Deposit. The Tsant Uul Project has a current JORC compliant resource of 90 Mt, with 61Mt in the Measured and Indicated categories.

Please find more in the attached announcement.

For further information, please contact:

Matthew Wood
Executive Chairman
George Tumur
Managing Director
E-mail:
Tel: +61 8 9200 4267

Media:
Fortbridge +61 2 9331 0655
Luke Dean +61 414 535 433




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