SOURCE: Sharyn Gol JSC

Sharyn Gol JSC

October 18, 2010 14:21 ET

Sharyn Gol JSC Appoints New Chief Financial Officer

ULAANBAATAR, MONGOLIA--(Marketwire - October 18, 2010) -  Sharyn Gol JSC is pleased to announce that Mr. David Dring has been appointed as Chief Financial Officer of the Company.

Mr. Dring's tenure will commence on November 1, 2010.

Mr. Dring, a British citizen, is currently a director of Singapore registered, Triton Coal Pte Ltd, and has over 10 years of experience in accounting, stock broking and compliance. He has extensive knowledge of natural resource companies and their operations.

This appointment will prove to be a valuable addition to Sharyn Gol's management, and underlines the Company's commitment to strengthening its corporate governance.

As at October 18, 2010, Mr. Dring held 4,284 ordinary shares in Sharyn Gol JSC.

About Sharyn Gol JSC

Sharyn Gol JSC (MSE: SHG MO) has a coal mining operation located in Northern Mongolia. It currently owns and operates 100% of the established Sharyn Gol Coal Mine. The Company was privatized and listed on the Mongolian Stock Exchange in 2003.

The Company has been mining coal at Sharyn Gol for over 45 years, supplying domestic and export customers with coal for thermal and semi-coking (smokeless fuel) uses.

A dedicated rail spur links the mine to the Trans-Mongolian railroad, currently Mongolia's main railway connecting Mongolia to the major markets of Russia and China. This exclusive access to the rail spur provides the Company with a significant competitive advantage over the majority of coal mining operations in Mongolia.

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