Planned Railways in Mongolia

Existing railway line

Planned railway line in 2010

Planned railway line in 2011

Planned railway line in 2015

ULAANGOM

ALTAI

ERDENETDARHAN

ULAANBAATAR

CHOIBALSAN

BARUUN-URT

SAINSHAND

Tsagaahnuur

Tsagaan hairrhan uul

Tsagaan tolgoi

TsagaanhairhanBaruunturuun

Urgamal

DorvoljinArgalant

Jargalan

Tayangiynnuruu

Burgastai

Altai

Tseel

Shinejinst

Shiveehuren

Nariin suhait

Gashuunsuhait

Tavan tolgoi

Tsagaan suvargaZuunbayan

Zamiyn-Uud

Bor-Ondor

Bagahangai

Baganuur

Shariyn gol

Altanbulag Ereentsav

Rashaant

Toson uul

Matad

Bichigt

Tamsag bulag

Source: Mongolia Railroad Policy, Eurasia Capital

Black Hills

MONGOLIA

RUSSIA

CHINA

CHOIR

Goals and Objectives• Additional drilling and surface

exploration to maximize Black Hills’ full potential including:

• Infill and expansion drilling to expand resources and upgrade resource category

• Step-out drilling between Ovdog Hudag and Ikh Ulaan-Nuur to delineate additional resources

• Re-drill Ikh Ulaan-Nuur

• Commence detailed development studies including: environmental baseline, processing, mine design

• Evaluation of potential for other valuable commodities on the property (Fe, Cu)

• Conduct an economic evaluation

• Develop Black Hills towards production

• Seek strategic partners for funding expansion, off-take, potential development of a mine-mouth power plant, and application of new technologies for monetizing deep-in-ground stranded coal

• Acquire additional coal projects focusing on coking coal and thermal coal in Mongolia

Black Hills Project Key Advantages• Strategic location close to existing rail line (parallel line planned) providing ready access

to Chinese markets

• The mineral concession is 34,054.69 hectares with a mining license covering its extent and includes the Ovdog Hudag and Ikh Ulaan-Nuur thermal coal deposits.

• Open pit accessible thermal coal resources with expected low strip ratio

• NI 43-101 compliant Inferred Resource of 89.6 Mt from 2,370 m of drilling in 14 holes at Ovdog Hudag deposit

• Excellent potential to significantly expand the projects’ coal resources through:

• Infill and step-out drilling at Ovdog Hudag deposit where substantially larger historical resources were delineated by Russian work in the 1960s and 1970s

• Testing the undrilled area between the two known deposits

• Ovdog Hudag coal deposit remains open to the north

• Drilling of the Ikh Ulaan Nuur deposit 7 km NNE of Ovdog Hudag (86.4 Mt)2

• Property has potential for presence of other commodities (Cu, Fe)

About Mogul Ventures Corp.Canadian company focusing on acquisition, exploration and development of coal projects in Mongolia. The Company is developing its 100% owned flagship asset, Black Hills thermal coal project located in Middle Gobi near Choir city.

The extensive Russian exploration history at Black Hills and the recently completed drill program resulted in an intial NI 43-101 compliant 89.6 million tons of Inferred Resources in Ovdog Hudag coal deposit.1

MOGUL VENTURES CORP.

Bay Adelaide CentreSuite 1200, 333 Bay St.Toronto, ONM5H 2R2, Canada

p +1 416.309.4326 F +1 416.364.3346 E information@mogulvc.com

w www.mogulvc.com

NOTES

1 & 2 Ovdog Hudag Coal Deposit, Mogul Ventures Corp. – 43-101 report by SRK Consulting (China) Ltd., December 31, 2011

Mongolian Coal• Viewed as Saudi Arabia of coal:

total Minable resources are estimated at 162Bt 7

• Current coal production of about 16Mt per year (mostly exported to China), expected to reach 60–70Mt by 20158

• High quality and highly accessible: generally near surface, ideal for low cost open pit mining, dominated by high-quality low ash, low sulfur and low phosphorous coals

• Known Geology: 12 coal basins, 3 regions with over 200 deposits of thermal and metallurgical grade coal

Ovdog Hudag Coal Deposit• In 2011, a 14 hole, ~2,370 m core drilling program on 1,000 m centers confirmed

the historical work on the deposit, forming the basis for a NI 43-101 Resource Estimate by SRK Consulting

• NI 43-101 Report summary results:

• Estimated Inferred Resources of 89.6 Mt3

• 8 coal seams recognized – 4 fully mineable, 2 partially mineable

• Classed as High Vol Bituminous A Thermal Coal

• Average Gross Calorific value - 5,636 to 6,431 kcal/kg (daf)*

• * 3,776 to 4,952 kcal/kg on a dry basis; daf = dry ash free basis

• Average Volatile Matter – 29.9 to 37.9%

• Average Fixed Carbon – 32.3 to 39.5%

• Average Ash – 22 to 33% - washing will reduce

• Average Sulphur – 4.94%; removal of abundant visible pyrite by washing expected to reduce S levels significantly

• SRK recommended program: infill and expansion drilling program, process test work, mine design and Preliminary Economic Assessment

Ovdog Hudag & Ikh Ulaan-Nuur Deposits• Ovdog Hudag coal deposit historical

resources, based on Russian drilling from the ‘60s and ‘70s, using a Russian Classification system and based on >85 drill holes:

• 1968: C1+C2 resources totalling 201.2 Mt4

• 1970: B+C1+C2 resources totalling 168.2 Mt5

• Ikh Ulaan-Nuur coal deposit is located 7km NNE of Ovdog Hudag

• 1970: A+B+C1+C2 resources totalling 86.4 Mt6

• Excellent potential for additional coal resources to be delineated in the undrilled area between Ovdog Hudag and Ikh Ulaan-Nuur

• Re-drilling of Ikh Ulaan-Nuur will add to NI 43-101 resources

• Open pit accessible coal resources with expected low strip ratio

OVDOGHUDAG

DEPOSIT

7 km undrilled

area between deposits

IH ULAANNUUR

DEPOSIT

2011 drill holesHistorical drillholes

2 KM

ILLUSTRATION: Drill Rig, 2011

Mogul Ventures TeamSTeveN KHaN, MBa, CFa Executive Chairman & Director

JOHN CaRleSSO CEO & Director

JaMul JadaMBa President & Director

davId a. TeRRy, Ph.d., P.Geo. Senior Technical Advisor

NOTES:

3–6 Ovdog Hudag Coal Deposit, Mogul Ventures Corp. – 43-101 report by SRK Consulting (China) Ltd., December 31, 2011

7–8 Renaissance Capital, “Moncoalia” report, June 15, 2011

MOGUL VENTURES CORP.

Bay Adelaide Centre, Suite 1200, 333 Bay St., Toronto, ON, M5H 2R2, Canada p+1416.309.4326 • F+1416.364.3346• E information@mogulvc.com w www.mogulvc.com