Aspire Mining Limited Appoints Ovoot Project Director

Perth, July 23, 2012 (ABN Newswire) - Aspire Mining Limited (ASX:AKM) is pleased to welcome Mr James Benson to its senior management team, having been recently appointed as Ovoot's Project Director. James is an experienced engineer and large scale project manager with widespread experience in the former Soviet Union and Mongolia.

Based in Ulaanbaatar (Mongolia), James will be responsible for overseeing the Ovoot Coking Coal Project ("Ovoot") through construction of the mine infrastructure as well as management of the Erdenet to Moron Rail line, the multi-user Rail Project being advanced by Aspire's subsidiary, Northern Railways LLC.

James brings to the Company a wealth of over 30 years experience in engineering, procurement, and construction management, with specific expertise in providing leadership and constructive solutions for large scale bulk commodity projects in remote regions. Having worked for over 10 years in Mongolia, Kazakhstan, Ukraine and Russia, James has overseen multiple billion dollar construction projects whilst employed with companies including Parsons Brinkerhoff, FERREXPO, and Bogatyr Access Komir.

Construction projects include the development of an iron ore mine in the Ukraine and a coal mine and associated Russian rail infrastructure in Kazakhstan.

In line with the Ovoot Pre-Feasibility Study completed in May 2012, Aspire is planning to commence Stage 1 production at the Ovoot Project in early 2016 producing up to 6 Mtpa of high quality coking coal, ramping up to Stage 2 in 2018 of 12 Mtpa.

Aspire's Managing Director, Mr David Paull commented that "The quality of the Ovoot Coking Coal Project has again been able to attract a high caliber executive to the Aspire management team".

"Jim's experience base provides an ideal fit for the significant challenges ahead in bringing the Ovoot Project into production".
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About Aspire Mining Limited

Aspire Mining Limited (ASX:AKM) owns 100% of the Ovoot Coking Coal Project in northern Mongolia. Aspire completed a Pre-Feasibility Study for the Ovoot Project in May 2012, targeting a large scale open pit mining operation, with production of 10-12 Mtpa of saleable coking coal at full capacity. Aspire is targeting first production at Ovoot in early 2016 subject to approvals and licenses. Ovoot ranks as the second largest coking coal Reserve, by project in Mongolia, with a JORC Code compliant Coal Resource at Ovoot of 252 Mt (156 Mt Measured, 70 Mt Indicated, 26 Mt Inferred) and Probable Coal Reserves of 178 Mt. Aspire is continuing to progress its application for a mining license, and access to rail infrastructure and other regulatory approvals.



Contact

Aspire Mining Limited
T: +61-8-9287-4555
F: +61-8-9388-1980
WWW: www.aspiremininglimited.com