Mongolia Business and Mongolian Daily Business News

TORONTO, ONTARIO, Dec 04, 2008 (MARKET WIRE via COMTEX) —-Khan Resources Inc. (TSX: KRI) is pleased to announce that it has signed a Letter of Intent (LOI) with Marubeni Corporation of Japan relating to uranium exploration and mining in Mongolia. The Energy Division of Marubeni is a multi-national trading company that has been most successful in investing in the oil, gas and uranium sectors, and is interested in working with Khan on the Mongolian Dornod uranium project.

“We are excited by Marubeni’s interest in Khan’s Dornod uranium project and are optimistic about the positive influence Japanese investors have on the Mongolian mining investment environment. Marubeni is a world-class player in the commodities trading arena and we look forward to working together for the mutual benefit of all stakeholders”, stated Martin Quick, Khan’s President and CEO.

Marubeni will work to improve the mining investment climate in Mongolia and Khan will provide Marubeni access to due diligence information on a confidential basis.

Source: FoxBusiness

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