This document discusses the Tavan Tolgoi coal project in Mongolia. It notes that Tavan Tolgoi is one of the largest undeveloped coking coal deposits in the world, located in central Mongolia. The document summarizes that preliminary estimates indicate there are over 7.5 billion tons of thermal and coking coal resources within 300 meters. It provides details on the mine production plans and timelines to reach full capacity of 20 million tons per year by 2016-2017 for the Eastern Tsankhi mine. The document also discusses the West Tsankhi mine development and highlights of the Erdenes TT operation. It reviews key development projects including plans for a coal handling and preparation plant and water supply infrastructure.

1. Tavan Tolgoi Project
London
April 17, 2013

2. Disclaimer
2
THIS PRESENTATION INCLUDES CERTAIN “FORWARD-LOOKING STATEMENTS”. ALL
STATEMENTS, OTHER THAN STATEMENTS OF HISTORICAL FACT, ARE FORWARD-LOOKING
STATEMENTS THAT INVOLVE RISKS AND UNCERTAINTIES, INCLUDING BUT NOT LIMITED TO
THOSE THAT RELATE TO COAL RESOURCES AND SALEABLE PRODUCT YIELDS,
PRODUCTION PLANS, COSTS OF PRODUCTION, STRIP RATIOS, CAPITAL EXPENDITURES,
COAL PRICES AND MARKETS. THERE CAN BE NO ASSURANCES THAT THESE STATEMENTS
WILL PROVE ACCURATE; AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER
MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. THE INFORMATION
CONTAINED HEREIN REPRESENTS THE COMPANY’S JUDGMENT AS OF THE DATE HEREOF,
BASED ON INFORMATION CURRENTLY AVAILABLE, INCLUDING THE INFORMATION
CONTAINED IN A DRAFT INDEPENDENT TECHNICAL REPORT PREPARED AT THE REQUEST
OF THE COMPANY. THE DRAFT TECHNICAL REPORT AND THE COMPANY’S MINE
DEVELOPMENT PLANS ARE SUBJECT TO CHANGE. THE COMPANY DOES NOT ASSUME ANY
OBLIGATION TO UPDATE ANY STATEMENT. NEITHER THE COMPANY NOR ANY OF ITS
PERSONNEL ACCEPTS OR ASSUMES RESPONSIBILITY, OR HAS ANY LIABILITY, TO ANY
PERSON IN RESPECT OF THIS PRESENTATION. THIS PRESENTATION DOES NOT FORM
PART OF AND IS NOT MADE IN CONNECTON WITH ANY OFFERING OF SECURITIES, AND IT
SHOULD NOT BE RELIED UPON IN CONNECTION WITH ANY CONTACT, INVESTMENT,
DECISION OR COMMITMENT WHATSOEVER.

3. Location
Company snapshot - location
– The Tavan Tolgoi
coalfield is located in
the central South Gobi
region of Mongolia
– Approximately 240km
north of the Mongolian-
Chinese border
Tavan Tolgoi is one of the largest developing
coking coal deposits in the world

4. 4
Formation of Tavan Tolgoi deposit(Resource
calculation by JORC code)
According to Norwest’s preliminary estimation of TT In-Situ coal resource by JORC code, there are 7.5 billion tons of thermal and
coking coal within 300 m depth range limit
West Tsankhi coal
field
East Tsankhi coal field1.2 Bt*
Cocking coal 65 %
1.08 Bt*
Cocking coal 78 %
Eastern
(Onch
Kharaat)
Borteeg
South-
Western
(Oortsog)
Tavan Tolgoi JSC
Measured
Indicated
Inferred
282.5 Mt
Calculation within *200m depth
1,21 Bt*
Cocking coal 63%
765 Mt*
Cocking coal 72 %
Calculation by JORC code
Preliminary calculation made by Norwest (within 200 m depth)
60.3 Mt
Cocking coal 70%
74,5 Mt
Cocking coal 61%
78.8 Mt
Cocking coal 82%
298 Mt
Cocking coal 53%
Bor tolgoi
Ukhaa khudag

5. Eastern Tsankhi
• Full capacity of the mine to steady state is 20 Mtpa
• The project will reach full capacity in 2016-2017
• Estimated mine life is 50 years
Western Tsankhi
Eastern Tsankhi
Bor Teeg coalfield Eastern coalfield
Ukhaa Khudag
Mine of Tavan Tolgoi JSC
5
Mine production
2011:
1 Mtpy
2012:
2.5 Mtpy
2013:
6 Mtpy
2014:
10 Mtpy
2015:
15 Mtpy
2016/2017:
20 Mtpy

6. 6
West Tsankhi mine
 Mining operation Pre-stripping and overburden
commenced on February 16th, 2013
 Coal export may commence in 2nd half of 2013
 West Tsankhi mining production
 CHPP commence operation in 2015-2016
2013: 1-2 Mtpy
2014: 3-4 Mtpy
2015: 6 Mtpy
2016: 12 Mtpy
2017: 20 Mtpy
Full capacity of the mine – to mine 20 million tons per year

7. Erdenes TT operation highlights
7
 The mining operation and box-cut has commenced in August 27, 2010
 Commercial production of coal commenced in July 2011
 Coal export began in August 4, 2011
 Currently operation has around 400 personnel on site
 3.5 million tonnes ROM mined since commencement of operation
 About 12 million metric cube overburden stripped
Contract Mining
 Macmahon Holding (Australia)
Coal production and operation
 Off-taker: Chalco (Aluminum Corporation of China)
Off-take agreement

8. Key development - PlantsCoal Handling and Preparation Plant (CHPP)
• Front end engineering study of the plant is on final stage.
• Construction work begins in 2013.
• Targeting mid 2014 for completion of the first module.
• CHPP ramping up to processing 20Mt of ROM coal per year in
2017
Water Supply
• Cabinet approved water use permit minimum 150 liters/sec
from Balgasyn Ulaan Nuur ground water in 2011 (~70km from
mine site).
• Feasibility study completed and ready to announce bidding for
potential contractors.
• Exploration to be commenced for additional water supplies.
• Completion of water supply pipeline and structure targeted in
2015.
8
Dalanzad
gad
Sainshand
Zuunbayan
Tavan Tolgoi
Oyu
tolgoi
Gashuun
sukhait
Zamiin-Uud
Khangi
Balgasiin
Ulaan Nuur

9. Projects
9
Infrastructure development
Projects financed by ETT
CHPP
Water supply
Camp
ETT involved projects
Railroad
Road
Power Plant

10. Erdenes-TT’s main challenges
10
Revision of CHALCO agreement
Marketing consultancy service
Expand sale and marketing
Listing on domestic and
international stock exchanges

11. THANK YOU
Jigjidjav 8, 1st khoroo, Chingeltei district
Ulaanbaatar, Mongolia
Tel: (976) 7011-8585
Fax: (976) 7011-0725