SouthGobi Resources Limited
HKSE : 1878

SouthGobi Resources Limited

December 12, 2014 04:07 ET

SouthGobi Resources Announces Management Changes

HONG KONG, CHINA--(Marketwired - Dec. 12, 2014) - SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) ("SouthGobi" or the "Company") announces the stepping down of the President and Chief Executive Officer Ross Tromans, effective December 12, 2014 and appointment of Enkh-Amgalan Sengee as President and Chief Executive Officer. Mr. Tromans will remain with the Company and on the Board of Directors of SouthGobi until December 31, 2014.

Mr. Enkh-Amgalan Sengee has been President and Executive Director of SouthGobi Sands LLC ("SGS"), the Company's wholly-owned subsidiary, since July 2013. Mr. Enkh-Amgalan Sengee joined SGS from Clean Energy LLC, a subsidiary of Newcom Group, where he was CEO and led the successful development of the first commercial scale wind farm in Mongolia. Prior to this, he gained extensive experience in the extractive industry through a number of senior management positions at the MCS Group of Companies.

Mr. Lancaster, Interim Chair, said, "I would like to thank Ross for his leadership of the Company in very challenging market conditions. Under Ross's leadership SouthGobi returned to safe operations with significantly improved cost performance.

"I am pleased to welcome Enkh-Amgalan Sengee to his new role in SouthGobi. Enkh-Amgalan is a seasoned executive with extensive management skills and in-depth knowledge of the Mongolian mining and energy industries."

About SouthGobi

SouthGobi is listed on the Toronto and Hong Kong stock exchanges, in which Turquoise Hill Resources Ltd. ("Turquoise Hill"), also publicly listed in Toronto and New York, has a 47.9% shareholding. Turquoise Hill took management control of SouthGobi in September 2012 and made changes to the board and senior management. Rio Tinto has a majority shareholding in Turquoise Hill.

SouthGobi is focused on exploration and development of its metallurgical and thermal coal deposits in Mongolia's South Gobi Region. It has a 100% shareholding in SouthGobi Sands LLC, Mongolian registered company that holds the mining and exploration licences in Mongolia and operates the flagship Ovoot Tolgoi coal mine. Ovoot Tolgoi produces and sells coal to customers in China.

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