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

SouthGobi Resources Limited

December 10, 2009 16:15 ET

SouthGobi Energy Resources Names Senior Australian Banker Tony Pearson as Vice-President, Corporate Development

HONG KONG, CHINA--(Marketwire - Dec. 10, 2009) - Alexander Molyneux, President and CEO of SouthGobi Energy Resources Ltd. (TSX VENTURE:SGQ), is pleased to announce the appointment of Tony Pearson as the company's new Vice-President, Corporate Development, effective February 8, 2010. Mr. Pearson will relocate to Hong Kong and will be responsible for business and corporate development initiatives.

Mr. Pearson currently holds a senior position with the Australian Securities & Investments Commission. He previously held senior positions with Citigroup's Metals and Mining Investment Banking team and Westpac Banking Corporation. During his time with Citigroup, Mr. Pearson advised mining clients on capital raisings, mergers, acquisitions and divestitures, with particular responsibility for Asian and Australian mining companies. While at Westpac, Mr. Pearson was integral to the establishment of the bank's infrastructure and funds management business, focusing on financing and investment activities in the infrastructure and transportation sectors.

"We are very pleased to have Tony join SouthGobi's team," said Mr. Molyneux. "His extensive experience in the mining industry, together with his strong background in infrastructure financing, make him a valuable addition to our company as we expand our coal-mining operations."

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