HARANGA RESOURCES REPORTS QUARTERLY ACTIVITIES

Ulaanbaatar /MONTSAME/ According to its quarterly activities report released on March 30, operations of Haranga Resources Limited during the March 2014 quarter have been focused on completing previously planned work programmes and planning the Company’s 2014 activities to successfully bring the Selenge iron ore project into the development stage. Highlights of the report include the company’s commencement of the Detailed Environmental Impact Assessment (DEIA) of the Selenge project, which forms part of the Mining License application process to the Mineral Resource Authority of Mongolia (MRAM). Targeting possible off take partners in China, the Company is studying an alternative option to accomplish the pilot scale metallurgical test, the report highlights. An optimized design flow-sheet for the test work has been generated. As agreed in the Pre-Mining Agreement (PMA) with the Mineral Resource Authority of Mongolia (MRAM), a comprehensive study for infrastructure solutions such as road, railway, electricity and water supply for potential open pit mine and beneficiation plant at the Selenge project has commenced, the report says. Feasibility study geotechnical slope design proposal by an independent expert is being reviewed which will be followed by the completion of the geotechnical purpose drill plan, the report highlights. The field work will then commence to complete a Mine Design. Exploration costs are low and existing infra-structure to China provides a ready market for oil discoveries in Mongolia. A hydrogeological drilling plan to study water characterisations and underground hydrogeological conditions for the open pit has been completed. In order to increase the Resource base to ensure a longer life of mine (LOM), the Company is targeting an additional drilling programme to be approved by MRAM in the coming weeks. The Company’s flagship Selenge iron ore project is transitioning into its Development stage after the completion of the successful Exploration phase. The Selenge project is ideally located in the heart of Mongolia’s premier iron ore development region with excellent access to the main trans-Mongolian rail line and nearby rail spurs. The Company has signed a Memorandum of Understanding (MOU) with both the Mongolian Railway Authority and the Ministry for Transportation requesting up to 5Mtpa of rail capacity from 2015 onwards.