Aspire Mining LimitedInvestor Presentation

1Sydney Resources Round Up, May 2014

Important information

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•Nature of this document: This document has been prepared by Aspire Mining Limited (“Aspire”, “AKM”, or the “Company”) and contains summary information about the Companyand its subsidiaries as at the date of release of this document. The information in this document does not summarise all information that an investor should consider when making aninvestment decision. It should be read in conjunction with the Company’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange(“ASX”), which are available at www.asx.com.au or www.aspiremininglimited.com. In attending this presentation or viewing this document you agree to be bound by the followingterms and conditions.

•Not an offer: This document is for information purposes only and does not constitute or form part of any offer for sale or issue for any securities or an offer or invitation to purchaseor subscribe for any such securities. This document and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution,transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

•Not financial product advice: The information contained in this document is not intended to be relied upon as financial product advice or investment advice nor is it arecommendation to acquire Aspire securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making aninvestment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal,taxation and financial advice appropriate to their jurisdiction and circumstances. Neither Aspire nor any of its related bodies corporate is licensed to provide financial product advice inrespect of Aspire securities or any other financial products.

•Forward‐looking statements: This document contains certain “forward‐looking statements”. The words “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “likely”,“intend”, “should”, “could”, “may”, “target”, “plan”, “consider”, “foresee”, “aim”, “will” and other similar expressions are intended to identify forward‐looking statements. Indicationsof, and guidance on, future production, production targets, resources, reserves, capital expenditure and financial position and performance are also forward‐looking statements. Suchforward‐looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are outside the control ofAspire.

•Risks of investment: An investment in Aspire securities is subject to investment and other known and unknown risks, some of which are beyond the control of Aspire, includingpossible loss of income and principal invested. Aspire does not guarantee any particular rate of return or the performance of the Company, nor does it guarantee the repayment ofcapital from Aspire or any particular tax treatment. In considering an investment in Aspire securities, investors should have regard to (amongst other things) the risk and disclaimersoutlined in Aspire’s most recent Annual Report released by Aspire to the ASX on 18 October 2013.

•Unverified information: This document may contain information (including information derived from publicly available sources) that has not been independently verified by theCompany.

•Disclaimer: Neither the Company nor its directors, officers, employees or advisors make any representation or warranty and accordingly no reliance should be placed on the fairness,accuracy, completeness or reliability of the information contained in this document. To the maximum extent permitted by law, the Company, its directors, officers, employees oradvisors do not accept any liability for any errors, omissions or loss (including because of negligence or otherwise) arising, directly or indirectly, from any use of this document or itscontent.

•Financial data: All dollar values are in Australian dollars (A$) and financial data is presented within the financial year ended 30 June unless otherwise stated.

•Effect of rounding: A number of figures, amounts, percentages, estimates, calculations of value and fractions in this document are subject to the effect of rounding. Accordingly, theactual calculation of these figures may differ from the figures set out in this document.

Important information cont.

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•Production Target Assumptions: The following are key assumptions used to achieve the ODP first year target of 5Mtpa of marketable coking coal. 1) In the eight months prior tocommencement of first year ODP production, a 23 million BCM waste removal programme to pre‐strip overburden to top of coal; 2) A strip ratio of 7.7:1 (BCM waste: tonne of coal); 3)Preferentially targeting the Upper Seam with a relatively high proportion of low ash coal; 4) Mining of 5.2Mt of ROM coal (at a 2% moisture on an as received basis) producing 5Mt ofsaleable coal. This is made up of 40% of washed coal and 60% of by‐pass coal meeting a 13% ash cut‐off; 5) Higher ash coal totalling 2.1Mt will be washed in a 300 tonne per hour washplant to be constructed at the Ovoot Project; and 6) Overall product yield of 90% to be achieved averaging 9% moisture for a less than 10% ash product. 7) The mine design is that usedto support the announced Coal Resource and Reserve update for the Ovoot Project (refer ASX announcement dated 31 July 2013). 8)All capital and operating costs are in 2013 dollars.•Development Timeline: Aspire’s development timeline for its Ovoot Project relies primarily on i) the provision of a rail concession and other approvals from the Government ofMongolia for Northern Railways to build, and operate the Northern Rail Line, connecting the Ovoot Project to the Trans‐Mongolian Railway at Erdenet; and ii) financing of the NorthernRail Line. The timing with respect to the grant of a rail concession is outside of the control of Aspire. Certain activities to further progress the Ovoot Project and Northern Rail Linedevelopment, and which will follow the grant of the rail concession licences, include the completion of detailed engineering work to support definitive financing negotiations. TheCompany’s development timeline to achieve first production by 2017/18 is indicative and assumes the grant of necessary Government licences, agreements and approvals in 2014.•Competent Persons Statement:In accordance with the Australian Securities Exchange requirements, the technical information contained in this announcement in relation to the JORC Compliant Coal Reserves andJORC Compliant Coal Resource for the Ovoot Coking Coal Project in Mongolia has been reviewed by Mr Ian De Klerk and Mr Kevin John Irving of Xstract Mining Consultants Pty Ltd.The Coal Resources documented in this release are stated in accordance with the guidelines set out in the JORC Code, 2004. They are based on information compiled and reviewed byMr. Ian de Klerk who is a Member of the Australasian Institute of Mining and Metallurgy (Member #301019) and is a full time employee of Xstract Mining Consultants Pty Ltd. He hasmore than 20 years’ experience in the evaluation of coal deposits and the estimation of coal resources. Mr. de Klerk has sufficient experience that is relevant to the style ofmineralisation and type of deposit under consideration to qualify him as a Competent Person as defined in the JORC Code, 2004. Neither Mr. de Klerk nor Xstract have any materialinterest or entitlement, direct or indirect, in the securities of Aspire Mining Limited or any companies associated with Aspire Mining Limited. Fees for work undertaken are on a timeand materials basis. Mr. de Klerk consents to the inclusion of the Coal Resources based on his information in the form and context in which it appears.The Coal Reserves documented in this release are stated in accordance with the guidelines set out in the JORC Code, 2004. They are based on information compiled and reviewed byMr. Kevin Irving who is a Fellow of the Australasian Institute of Mining and Metallurgy (Member #223116) and is a full time employee of Xstract Mining Consultants Pty Ltd. He has morethan 35 years’ experience in the mining of coal deposits and the estimation of Coal Reserves and the assessment of Modifying Factors. Mr. Irving has sufficient experience that isrelevant to the style of mineralisation and type of deposit under consideration to qualify him as a Competent Person as defined in the JORC Code, 2004. Neither Mr. Irving nor Xstracthave any material interest or entitlement, direct or indirect, in the securities of Aspire Mining Limited or any companies associated with Aspire Mining Limited. Fees for workundertaken are on a time and materials basis. Mr. Irving consents to the inclusion of the Coal Reserves based on his information in the form and context in which it appears.The technical information contained in this announcement in relation to the Ovoot Coking Coal Project in Mongolia has been reviewed by Mr Neil Lithgow – Non Executive Director forAspire Mining Limited. Mr Lithgow is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type ofdeposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves.” Mr Lithgow consents to the inclusion in the report of the matters based on this information in the form and context in whichit appears.

Corporate structure

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Ownership (Fully Diluted)

30.97%

13.67%

10.81%

17.82%

26.73%

AKM Directors (ex Turbat)

SouthGobi Resources Ltd

Noble Group

Mongolian Shareholders

Others

Ovoot Coking Coal Project

Northern Railways LLC

Erdenet – Ovoot Railway

100% 90% 10%*

Capital Structure (ASX:AKM)

1 As of 31 Mar 20142 US$5million loan facility provided to Northern Railways LLC (wholly owned subsidiary), fully drawn, as at 31 Mar 2014.3 Options on issue, exercisable at 5c, expiring 12 February 2015.

UndilutedShare Price (1 May 2014) A$ 0.041Shares Outstanding M 658.2Market Capitalisation A$m 26.9 Options and Performance Rights on Issue M 241.13

Cash A$m 4.61

Debt A$m 5.42

Enterprise Value A$m 27.7

10.8%

* Noble Group are contributing 10% pre‐development costs for the Northern Rail Line and will earn 10% equity position upon the grant of a rail concession from the Government of Mongolia.

An emerging coking coal developer well placed to benefit from Mongolia’s changing infrastructure landscape

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Company Focus:“To develop World Class Coking Coal Projects”

• Northern location provides opportunity for Ovoot to access European and seaborne coking coal markets

• Planned upgrade of TMR will allow capacity for Ovoot coking coal south to China

• Moratorium on Exploration Licences expected to be lifted in near future

• New potential exploration projects identified to grow Aspire’s project portfolio

Why the Erdenet – Mogoin Gol railway (Northern Rail Line) will proceed

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1. The Ovoot project will produce a quality coking coal product required in Mongolia and export markets

2. Recent progressive legislative and policy changes shows GOM support of minerals sector and infrastructure developments

3. Over 2.5Bt of coal reserves to the north of Ovoot can also access this railway in time

4. Northern Rail Line will be part of an international rail network

5. Rail line could be upgraded to over 30mt capacity for this combined freight task

6. Currently working with UBTZ to facilitate tie‐in of Northern Rail Line to existing rail and negotiate capacity allocation

7. Additional freight from Northern Rail Line is needed for planned UBTZ capacity upgrades

8. Financing interest received for US$1.3bn to construct Northern Rail Line

Northern Rail Line expected to become an important link for Russian/Chinese trade

Mongolia – set to become a major trading corridor

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• Mongolia has agreed to establish a working group with China to oversee the construction of new road, rail and pipeline infrastructure connecting the two countries with Russia (Reuters, 28 Oct 2013).

• “Landlocked Mongolia aimed to become a transit corridor to facilitate tradebetween Russia and China” (Mongolian Official to Reuters 28 Oct 2013).

• Mongolia‐China‐Russia Government officials agree under MOU to investigate upgrade of Trans‐Mongolian Railway amongst other infrastructure items (Dec 2013)

Rail Route Current StatusTavan Tolgoi – Sainshand Under construction, to be completed by 2017. Sainshand – Ereentsav, Nomrog, Bichil (via Hoot)

Working group assessment underway.

Ukhaa Khudag – Gashuun Sukhait Under construction. To be completed end of 2015.

Trans‐Mongolian railway upgrade from Ulan Ude (Russia) – Jining(China)

Feasibility study underway. Phase 1 upgrade (up to 34Mtpa capacity) to be completed end of 2015. Phase 2 dual track up to 100mtpa.

Erdenet – Ovoot PFS and on‐ground field study completed.

Working group established with UBTZ to discuss tie‐in at Erdenet and capacity allocation.

Awaiting grant of concession.

Source – State Policy on Railway Transportation Presentation dated 2011, by Ministry of Road, Transportation, Construction and Urban Development. Business Council of Mongolia Newswire Issue 306‐307 “Erdenes TT set for greater export” dated 10 January 2014, Montsame.gov.mn “Engineering Design of Far East Route Railways to be completed coon” dated 6 January 2014, Eurasia Daily Monitor Vol 11 Issue 15 “The Mongolian Russian Chines Northern Railway Corridor” dated 24 January 2014, InfoMongolia “Mongolia and China agree to establish Gashuun Sukhait Railway Joint Venture” dated 8 April 2014. RZD website, The Economic Times, United Nations Economic Commission for Europe – Transport Division “Euro‐Asian Transport Links Project”.

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Note1: Source ‐ IMC Montan presentation “Russian Coking Coal Development – An Update” dated 19‐20 June 2013Note2: Source – Reserve estimate for Elegest, Mezhegey and Tsentrany reported by Severstal Resources presentation “Cokin Coal market Perspectives” dated May 15, 2013.Note3: PortNews “RF Defense Minister Sergei Shoigu suggests shifting of coal flows from Eastern to Southern direction” article dated 4th April 2014.

Project Estimated Reserves

Owner

Elegest2 895 Mt Tuva Energy Industrial Corporation (TEPK)

Kaa Khem1 200 Mt En+ Group

Mezhegey2 765 Mt Evraz

Tsentralny2 639 Mt Severstal

Total 2,499 Mt

Russia considering access to China and other countries via western Mongolian border of Tsagaan Tolgoi3:

• Russia’s defence Minister Sergei Shoigu proposed an extension of the Kyzyl – Kuragino Railway through Mongolia to connect with China.

• Russian Prime Minister Dmitry Medvedev supports railway transiting Mongolia and has ordered work to commence on investigating the proposal.

Potential Russian Users of Railway:

• Ulug Khem Basin holds 4 major coking coal projects:

• Up to 47mtpa coal at full production1

Unlocks development potential for large scale coal projects

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Elegest Coal Project Development1:

• Phased production stages increasing to 5mtpa production, and up to 15mtpa from 2018.

• 410 km Kyzyl – Kuragino Railway to be completed by 2018:

‐ Privately owned and operated by TEPK‐ Russian Government Guarantees provided for 75% debt portion

• Initial rail capacity 15mtpa, to accommodate full scale production from Elegest, with ability to increase capacity to 27mtpa.

• Burny Cape Coal terminal under construction at Vanino port to accommodate 15mtpa coal throughput, due for completion 2016.

Additional Development of Mezhegey, Tsentrany, Kaa Khem:

• Will require capacity upgrade along Kyzyl – Kuragino Railway, or

• Alternative route via Northern Rail Line provides attractive distance savings2 from Russian coal to China and Far East Russia

Note1: Sources – TEPK website http://www.tepk‐invest.ru/.  Rusmininfo Limited “TEPK elaborates the plan of Elegest development” dated 13 May 2013, Prime Business News Agency “Bedeschi, Russi’a TEPK ink 7.2bln ruble deal to build coal terminal, Portnews.Ru“Infrastructure issues of SPIEF 2013” dated 25 June 2013, CEE Construction “Tuva Energy Industry Corporation announces Elegest railway tender” dated 14 March 2014. Note2: Internally calculated by Aspire Mining.

Kyzyl – Far East Russia Distance (km) Savings (km)

Via Trans‐Siberian Railway 5,714

Via Northern Rail Line 5,269 445

Kyzyl – China (Erenhot)

Via Trans‐Siberian Railway 3,434

Via Northern Rail Line 2,181 1,253

Northern rail line could become part of  major international trade route

Once Northern Rail Line is built, only 475km rail link is required to create a more efficient link between Russia and China

Rail infrastructure key to resources development

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• Connects the Ovoot Project and Northern Mongolia directly onto the Trans‐Mongolian Railway network for access to international markets

• Apply for BOOT (Build Own Operate Transfer) rail concession

• 51% ownership to be vested in the Mongolian Government after expiration of the concession

• Major transport corridor in Northern Mongolia (passing through Orkhon, Bulgan, Khuvsgul and Zavkhan provinces)

• Open access multiple bulk commodity users, freight and passenger

• Erdenet – Ovoot Railway:

• Up to 22Mtpa Capacity (multiuser)

• 547km length

• 220km south of the Khuvsgul Lake

• >120km south of the defined Tourism zone in the KhuvsgulProvince

• US$1,300 million Capex1 estimate + contingencies

• Estimated Commencement 2017/18*

Note 1: Capex estimate according the  Revised Rail PFS completed in April 2013. Total alignment is 595km which includes bypass loops. As part of its Opex estimates, Aspire will pay to Northern Railways the normal commercial tariff to access  Northern Rail Line.

*Future development is contingent on the grant of a rail concession from the Government of Mongolia

Potential rail financing structure

11* Aspire’s current ownership interest in Northern Railways, which is expected to reduce as Strategic Investors are introduced in the financing process.

Equity

Export Credit

Banks

Strategic Investor/s

10.8%

90%*

10%

Northern Rail Line

Financing Situation Preliminary Stages:• Non‐binding Expressions of Interest 

received totalling US$1,300m

• Indicates broad level of interest in financing railway

• Definitive discussions can commence once rail concession is granted from Government of Mongolia

Aspire in line to capitalise on government initiatives to re‐attract FDI

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1. The introduction of the new Investment Law in November 2013 effectively removed the requirement for Government approvals for Foreign investment to circumstances of changes in control events involving foreign state owned enterprises.

2. The delivery in January 2014 of a new Minerals Policy supportive of continued development and investment by the private sector. The Minerals Law of 2006 will now be updated to take account of this new policy.

3. Cabinet proposed for Parliamentary approval to lift Exploration Licence Moratorium in near future, allowing new mineral projects to be explored.

4. The recent agreement between the Government of Mongolia, Russia and China to increase capacity along the Trans‐Mongolian rail line, combined with the Northern Rail development provides a definitive path to export markets globally, unblocking the infrastructure log jam holding back investment.

5. Continued progress between the Government and Rio Tinto in relation to Stage 2 Underground for Oyu Tolgoi. Stage 1 continues to perform to expectations.

Ovoot is considered one of the key input sources for Mongolia’s largest industrial complex development

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Sainshand Industrial Complex

• Expected Completion 2015

• Intended to include coke and steel plants and other industry

• Non‐binding MOU signed for the supply of Ovoot coking coal to Sainshand

• Ovoot recognised as one of the key coal suppliers including Tavan Tolgoi

• Huren Chuluut Iron Ore also regarded as key iron ore supplier to Sainshand which would be an additional user of the Northern Rail Line infrastructure

Oxidised and low quality coking coals can be upgraded when blended with Ovoot coking coal

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Non‐coking, Thermal Coals, and Semi‐Soft Coking Coals

• Coke oven blend tests conducted on 50/50 blend and 75/25 blend (oxidised coal/Ovoot)

• Used alone, low coking, thermal and oxidised coals are not enough to create a coke end product

• However, when blended with Ovoot coking coal, these coals are upgraded significantly to produce a good coke product

• Under Chinese classification, these blended products are classified as a Primary Coking Coal (JM)

Ovoot coking coal = High Value in Use

VITROCOAL: low ash, high fluidity coking coal

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Ovoot Coking Coal displays high fluidity and plastic properties

An ideal blend coking coal indicated by industry leading Gray‐King Index and Rank

Chinese classification “FM Premium Fat Coal” – attracts hard coking coal pricing

Russian classification “Fat Coking Coal” (Zh and KZh)

Indicative Ovoot Washed Coking Coal Specification

Moisture 9%

Ash 9%

Volatiles 25‐28%

Sulphur 1.2%

CSN 9

Max Fluidity Log 3.60

Max Dilation +300%

Gray King G11

G Caking Index +95

Y Index mm +26

RoMax 1.2

Significant interest in Ovoot coking coal exceeds Ovoot development production

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Additional Chinese, Russian, Japanese, Eastern Europe Steel Mills and Coke Plants are being followed up by Aspire

Offtake Customers Potential Offtake under Non‐Binding MOU’s

Chinese up to 5.6 Mtpa

Russian up to 1.3 Mtpa

ODP Production 5 Mtpa

Excess MOU interest 1.9 Mtpa (+38%)

Ovoot development plan

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Mine CAPEX and OPEX Estimates

Initial Production up to 5 MtpaCAPEX US$144m (incl. contingency and working capital)Note2

Commencement 2017/18Production growth potential up to 10MtpaNote1

Life of Mine 21 yearsNote1

OPEX (Avg first 2 years)

OPEX (Avg first 5 years)

US$76‐86/tNote2

US$82‐92/tNote2

Total Saleable Product 188 MtNote3

Product Type 100% High Quality Coking Coal

Average Strip Ratio 7.7:1 BCM waste/t (excluding pre‐strip) Note4

Note1: Full scale production based on December 2012 PFS Revision (refer ASX Announcement dated 6 December 2013). Note2: All costs nominal (2013 dollars). Operating costs exclude royalty and includes all freight and border costs FOR China, based on a scheduled saleable production rate of 5mtpa over first five years. Costs assume rail line 

has been extended to the Ovoot Project and 3c/t/km tariff is applied. Refer ASX Announcements dated 13 August 2013 and Quarterly Report for period ended 31 December 2013Note3: Total marketable coal produced over life of mine. Note4: Refer ASX Announcement dated 31 July 2013

Ovoot mine economics now expected to result in quick mine capital payback (expected to be less than 2 years based on existing price estimates)

JORC Resource & Reserve confirm Ovoot as second largest coking coal reserve in country

18Source: Company website, Company annual reports, Project technical reports*Ovoot Project ROM Coal Reserves based on Arb 2% moisture.

JORC Reserve(31 July 2013)

Probable (Mt)(arb 2% moisture)

Total (Mt)

Marketable (Mt)

(arb, 9.5% moisture)

Ovoot Open Pit 247 247 182

Ovoot Underground

8 8 6

Total 255 255 188

JORC Resource(31 July 2013)

Ovoot Open Pit

Ovoot Underground

Total (Mt)

Measured 197.0 0.0 197.0

Indicated 46.9 25.4 72.3

Inferred 9.2 2.6 11.8

Total 253.1 27.9 281.0

China fat, primary coking coal against seaborne traded HCC

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Why the Low Prices?

• Current Seaborne market oversupplied

• Domestic Chinese production competing with seaborne imports

• Fundamentals for HCC in med‐longer term drive LT consensus price at US$186/tNote1 from 2018 onwards

Source: Shaanxi Fenwei Energy Consulting, “China Coal Resource”.Note1: Average nominal Long Term price of 9 analysts including – Goldman Sachs, Credit Suisse, Citi, Bank of America Merrill Lynch, BMO Capital Markets, Morgan Stanley, UBS, Wood Mackenzie and BHP Billiton.

0.00

50.00

100.00

150.00

200.00

250.00

300.00

350.00

400.00

US$/ton

ne

China HCC (Primary Coking Coal)

China Fat Coking Coal

Seaborne HCC

Source: China Coal Resource, Fenwei Energy, McCloskey, PlattsNote: Prices Exclude 17% VAT, Exchange rate (US:CNY 6.28)

US$186

Ovoot coking coal will have a long term cost advantage

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Ovoot and Mongolian coking coal has a significant geographical advantage that requires rail development to secure

Source: Aspire Mining Ovoot coking coal nominal cost US$82‐92/t (not including royalty) for first 5 years of production. Refer Quarterly Report for period ended 31 December 2013. Note: China Primary Coking Coal price excludes VAT, source: China Coal resource, Shaanxi Fenwei Energy Consulting.*April – June Quarterly HCC price (Source: TEX report)

Metallurgical Coal (HCC + PCI + SSCC)

40% of Seaborne metallurgical coal production is uneconomic

Supply response: met coal production reductions

21Graphic Source: Alpha Natural Resources presentation “2013 UBS Coal Conference” dated 4 December 2013. Teck News Release dated 13 Feb 2014.Note1: UBS Commodities Mining and Metals “Metallurgical coal: upside price risk emerges”, dated 1 May 2014.

Canada – British Columbia

…Plus approximately 13mt1 supply cuts during 2014 from:‐ James River‐ Walter Energy‐ Arch Coal‐ Patriot Coal‐ Mechel‐ Consol Energy‐ DrummondTotal supply cuts to date ~ 53mt

Met coal prices should rise as supply/demand balance is reached

Ovoot and railway development pathway

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Ovoot Mine Completed

JORC 2012 Resources and Reserves ✓

Pre Feasibility Studies ✓Mining Licence ✓

MRAM Approval of Mongolian Feasibility Study

✓

Coke Oven Testwork ✓

Offtake Interest 138% of Initial production (non‐binding)

✓

Port Capacity, up to 6Mtpa (non‐binding) ✓

Detailed Environmental Impact Assessment 2015*

Bankable Feasibility Study 2015*

Fund Raising 2015/16*

Construction 2017*

Northern Railway Completed

Pre Feasibility Studies ✓Confirmation of Alignment to Mongolian Standards ✓

Initial Stakeholder Engagement ✓General Environment Impact Assessment (GEIA) Granted

✓

Approval of GEIA by Mongolian Government ✓

On‐Ground Field Study ✓Detailed Satellite Imagery Data for 1:5000 Mapping ✓

Rail Concession 2014

Detailed Engineering Work & Environmental Impact Assessment

2014*

Fund Raising 2014*

Construction Commencing 2015*

* Dependant on receipt of rail concession licences prior to commencing. Refer Development Timeline discussion under “Important Information”

7 key points to remember

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1. The Ovoot project is world class

2. Financing solutions have been identified

3. Ovoot coking coal product is in high demand

4. Northern Railway could become part of an international trade route

5. Government of Mongolia is supportive of development

6. Northern Rail Line concession application is proceeding:‐ high level ministerial support‐ no identifiable objection or groups opposed to railway development

7. UBTZ is working with Northern Railways on next phase of alignment tie‐in with existing rail network and capacity allocation

Contact details

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Aspire Mining LimitedABN: 46 122 417 243ASX Code: AKM

Web:  www.aspiremininglimited.com

AUSTRALIALevel 2, Suite 20, 22 Railway RoadSubiaco, Western Australia, 6008

MONGOLIASukhbaatar District, 1st Khoroo, Chinggis Ave‐8 Social Insurance Department BuildingAltai Tower, 3rd Floor, Room 302 West wing, 1st floor, 2nd doorUlaanbaatar Moron, KhuvsgulTel: +976 7011 6828 Tel: +976 9990 1385

David Paull:  Tel:  +61 8 9287 4555(Managing Director) Email: info@aspiremininglimited.com