SouthGobi Resources Limited
TSX : SGQ
PINK SHEETS : SGQRF
SEHK : 1878

SouthGobi Resources Limited

December 23, 2009 09:00 ET

SouthGobi Energy Resources Closes Sale of Mamahak Coal Project to Kangaroo Resources Limited

HONG KONG, CHINA--(Marketwire - Dec. 23, 2009) - SouthGobi Energy Resources Ltd. (TSX:SGQ) announced today that it has closed the sale of its Mamahak coal project to Kangaroo Resources Limited, as previously announced on December 15, 2009.

About SouthGobi Energy Resources

SouthGobi Energy Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia's South Gobi Region. The company's flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, plans to supply a wide range of coal products to markets in Asia, and other statements that are not historical facts. When used in this document, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although SouthGobi Energy Resources believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" in SouthGobi Energy's Management's Discussion and Analysis of Financial Condition and Results of Operations for the year ended Dec. 31, 2008, and for nine months ended September 30, 2009, all of which are available at www.sedar.com.

Contact Information

  • SouthGobi Energy Resources Ltd. - Investors
    Steven Feldman
    +1 604-681-6799
    or
    SouthGobi Energy Resources Ltd. - Media
    Bob Williamson
    +1 604-681-6799
    www.southgobi.com