Company Description: ADAMAS MINING was established in 2001 in Mongolia and has successfully undertaken exploration and the development of mineral deposits throughout the country. Over the last 20 years, the company has achieved notable successes with its team, conducting detailed exploration of minerals across over 200 projects, including coal, rare earths, gold, silver, polymetallics, and uranium.

Status: Exploration completed; resource defined

Deposit Location: Approximately 130 km southeast of Ulaanbaatar; ~20 km from railway and paved road; 2–4 km from power line

Deposit Type: Sedimentary thermal coal deposit

Target Commodity: Thermal coal

Ore Resources: 66.4 Mt

Average Grade:

• Average calorific value (Qdaf): ~6,357 kcal/kg
• Average ash content: ~18–20%
• Average sulfur content: ~1.1–1.2%

Work Completed: Systematic geological exploration conducted between 2007–2013, with additional performed exploration referenced in 2020

Drill Results:

• HQ core drilling: 3,630 m
• Percussion drilling: 3,630 m
• Borehole surveys (RL, SP, Gamma): 2,670 m
• Total drillholes intersecting coal seams: >50