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Strategies & Market Trends : Ride the Tiger with CD

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To: Rocket Red who wrote (88824)8/17/2007 5:06:37 PM
From: Rocket Red  Read Replies (1) of 313752
 
Khan's licence for Additional Dornod deemed invalid

2007-08-17 10:01 ET - News Release
Shares issued 53,200,529
KRI Close 2007-08-15 C$ 3.21

Mr. Martin Quick reports

KHAN RECEIVES NOTICE REGARDING SPECIAL EXPLORATION LICENSE

Khan Resources Inc. has received a notice from the Mineral Resources Authority of Mongolia advising that the Minerals Authority has determined that the decision to issue Khan's special exploration licence 9282X in respect of the property referred to as the Additional Dornod property is considered invalid. The company understands that a number of other uranium exploration licences have been similarly declared invalid. Khan is working closely with its counsel to assess the implications of the notice from the Minerals Authority and the company's legal rights. The company intends to vigorously oppose this determination.

This determination does not affect the existing mining licence in respect of the property referred to as the Main Dornod property. Khan indirectly holds a 58-per-cent interest in the Main Dornod property.
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