Khan Resources Inc.
TSX : KRI

Khan Resources Inc.

May 02, 2007 08:58 ET

Khan Resources Announces Its Exploration Program at the Dornod Uranium Project in Mongolia

TORONTO, ONTARIO--(CCNMatthews - May 2, 2007) - Khan Resources Inc. (TSX:KRI) is pleased to announce that it is implementing its spring and summer exploration program at the Dornod uranium project in north eastern Mongolia.

The exploration programs, which are now underway, will include a systematic gravity and ground magnetic survey to be completed and interpreted during May 2007. This will be followed with a minimum of 6 diamond drill holes with a total of approximately 2000 metres of core to be completed during May and June 2007. The exploration programs are designed to:

- identify local basin areas within the granitic basement favourable to uranium mineralization

- identify possible structures which may host uranium mineralization

- follow up targets that may be identified through the pre-feasibility study

- Prioritize the above targets, including possible infill drilling

"Depending on the outcome from these two initials programs, follow-up drilling will probably be carried out through the summer months in this prolific uranium camp", commented Martin Quick, Khan's President & CEO.

The total indicated resource of the deposit currently stands at 16.5 million tonnes at an average grade of 0.152% U3O8 or 55.4 million lbs U3O8 using a cut-off grade of 0.047% U3O8, of which Khan owns 38.5 million lbs U3O8 or 69.5% of the total indicated resource. (For further details see earlier release dated November 1, 2006). Our resource consultants, Scott Wilson Roscoe Postle Associates Inc., are now re-evaluating this resource, as part of the Pre-Feasibility Study, the results of which are expected to be released in mid 2007.

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.

Qualified Persons:

John Kita B.A.Sc., P.Eng., Chief Geologist, Khan Resources Inc., and Hrayr Agnerian M.Sc., P.Geo., Consulting Geologist at Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA), are the qualified persons on the project and supervised the preparation of the technical information in this release.

About KHAN:

Khan is a Canadian exploration and 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.

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