Company Presentation

Strictly Private and Confidential

October 2010

(HKEx: 0975)

1. Company Overview

631887

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308253

220

500

0

100

200

300

400

500

MMC SG Q MA MEC Hidili Fushan

World class hard coking coal reserves closely locat ed to China

Company Overview – Mongolian Mining Corporation (“MM C”)

Hard Coking Coal Resources Closely Located to China One of the Largest Mongolian Hard Coking Coal Resou rces

Item Bowen Basin Moatize Basin

Ash % (ad) 9.1 8.5 10.5

Sulphur % (ad) 0.60 0.53 0.85

CSN 8.5 7.3 9.0

Romax % 1.23 1.12 1.31

(3)(1)

(2)

Source: Mozambique, and Bowen Basin source: Wood Mackenzie. MMC source: Norwest ITR.Notes:(1) Average of seams 0C, 3A, 4A and 4C on a washed coal basis.(2) Average of Goonyella, Oaky Creek, Poitrel and Blackwater mines.(3) Average of Moatize and Benga mines in Mozambique.

High Quality Hard Coking Coal Product

Tavan Tolgoi Fault

Tsankhi Coalfield

Tavan Tolgoi SynclineSouthwest Coalfield

Borteeg Coalfield

UHG Coalfield

Ukhaakhudag SynclineBortolgoi Coalfield

Eastern Coalfield

Tavan Tolgoi Anticline

Coal Bearing Strata

Current Mining Area

DalanzadgadOvoot tolgoi

Zuunbayan

46 km 225 km

Khangy Mandula

Gashuun Sukhait/ Ganqimaodu

Shiveehuren Ceke

Jinquan

Linhe XixiaozhaoBaotou

Hohhot

Bayan obo

Bayan hua

Mongolia

0 200

Kilometers

Planned Railway

Existing Railway

UHG

Ukhaa Khudag (“UHG”)

2

(Mt) Mongolia China

Source: Company filingsNotes:(1) In accordance with the JORC code; Data from prospectus.(2) In accordance with the Canadian NI 43-101 standards; Data from 2010 June Investor Presentation.(3) In accordance with the Canadian NI 43-101 standards; Data from Baruun Naran pre-feasibility study dated 20 March 2008.(4) Data from company website.(5) Data from MEC August company presentation.(6) In accordance with a mix of JORC code and Chinese standards. Data from 2009 Annual Report.(7) In accordance with a mix of JORC code and Chinese standards. Data from Jan 2010 corporate presentation.

Resources Comparison

(1) (7)(6)

Fushan

(5)(2) (3) (4)

114

286

China

15.214.7

10.7

7.0

3.8

1.8

0

4

8

12

16

2009 2010E 2011E 2012E 2013E 2014E

Contracted Sales Un-secured Sales

(ROM Mtpa)

2.6

2.1

2.9

1.10.9

0

1

2

3

M ST MAK Qinghua-MAK SG

Company Overview – Mongolian Mining Corporation (“MM C”)

Largest HCC Producer and Exporter In Mongolia

(ROM Mt)

53% CAGR

Coking Coal Hard Coal

Export – Proxy of Production (Jan – Aug 2010) (1)

Source: Mongolian General Customs Office and company filings.Notes:(1) Jan – Aug 2010 coal export from the Mongolian General Customs Office.

Rapid Production Growth Secured by Offtake

Already the largest hard coking coal producer with rapid growth and secured sales

MMC Small TT SouthGobiMAK

� Ramp-up plan committed and publicly announced by Leighton

3

Shareholding Structure Post HK IPO (1)

MONGOLIAN MINING CORPORATION

(Cayman Islands) (HKSE Stock Code: 975)

100.0%

UHG Mining

Offshore

Onshore

PublicFloat

MCS Petrovis Shunkhlai EBRD Kerry45.3% 11.8% 5.1% 3.2% 8.3% 6.3% 20.0%

Note: As at September 2010.(1) Excluding greenshoe.

Support from Shareholders

ProposedRailway

Wash Plant Power Plant Trucking Operations

Paved Road

PublicFloat

Energy Resources LLC

Supported by blue chip shareholders with diversifie d backgrounds

� Global vision

� Local network

� Industry expertise

� Alternative financing solutions

4

MMC’s Strategies

To develop MMC into a leading mining company in Asi a

Improve our transportation infrastructure

Optimize existing resources and reserves

Exploration and acquisition as an established Mongo lian mining company

Mongolian MiningCorporation

5

Expand coal mine production

Complete construction of our coal handling and wash ing plant

Continue to develop and diversify our long-term cus tomer base and establish our own brand

Strong commitment to corporate social responsibilit y

Company Highlights

Mongolian MiningCorporation

Highly Favorable Industry Fundamentals

1 2

MMC is currently the only vehicle providing exposur e to Tavan Tolgoi coalfield, one of the world’s largest undeveloped hard coking coal re sources

Strategic Location –Hard Coking Coal Closely Located to China

Low Cost Producer with ASP and Margin Expansion

4

Mongolia Based Company Operating to International Practices

5

Leading Mongolian Producer With World Class Coking Coal Reserves

3 6

High Production Growth among Asia Peers

6

2. Company Highlights

Europe22%

Asia Ex-China17%

Other8%

China47%

North America

7%

4.6%

2.6%

China Rest of World

Highly Favorable Industry Fundamentals

Source: World Steel Organization.

Source: AME.

2009 Global Steel Production: 1,219Mt

Apparent Finished Steel Demand Growth (09 ~ 19E, %)

351

516

580

355

488

536

300

350

400

450

500

550

600

2004A 2009A 2015EDemand Supply

4

(28)

(44)

(60)

(50)

(40)

(30)

(20)

(10)

0

10

2004A 2009A 2015E

Net Exports Net ImportsSource: Wood Mackenzie.

China Represents Half of World’s Steel Production… China is Now a Net Importer of Coking Coal…

… And Leads the World in Demand Growth

1

(Mt)

Overall Net Supply in China (Mt)

…With Widening Supply Deficit Going Forward

China is the world’s largest consumer of coking coa l with rapidly widening supply gap

7

Undeveloped Developed

Tavan Tolgoi (“TT”)

Moatize Basin

Bowen Basin

Resources (bn tonnes)

Production 2009 (Mt)

Quality

– CSN 8.5 9.0 7.3

Total Producers 2 4 >15

World Class Coking Coal Resources…2

World Class Hard Coking Coal Closely Located to Chi na One of the Largest Undeveloped Coking Coal Fields

Source: Company filings, website.(1) Based on data from Queensland Department of Mines and Energy as of November 2007.(2) Export as proxy of production(3) Central Queensland’s 2009 production used as proxy for Bowen Basin. (4) Tavan Tolgoi’s coal quality based on Ukhaa Khudag’s average of seams 0C, 3A, 4A and 4C on a washed coal basis; Bowen Basin’s coal quality

based on average of Goonyella, Oaky Creek, Poitrel and Blackwater mines; Moatize Basin’s coal quality based on average of Moatize and Benga.

Tavan Tolgoi could become the next Bowen Basin at t he door step of China – MMC is ideally positioned, and currently provides the only availab le exposure to the Tavan Tolgoi coalfield

(4)

7

10

6

Tav an Tolgoi Mozamb ique Bowen Basin

N/A

3.3

Tavan Tolgoi Mozambique Bowen Basin

92.8

(1)

(3)

Operating

Deposits

Target Market Region (“TMR”)

WesternCanada

Appalachia

Elga (Russia)Tavan Tolgoi(Mongolia)

Shanxi (China)

Maruwai (Indonesia) Bowen

Basin

Moatize(Mozambique)

8

(2)

Project Feasibility

�Bankable Feasibility Studies across all project modules

Mine Ramp-up / Equipment

� Fully visible ramp-up to 15Mtpa ROM production in 2013

� Full commitment by Leighton

Wash Plant

� First module fully operational in early 2011

� International standards

Transportation

� Paved road substantially completed by end of 2010

� Proposed railway: 30-year license in 2nd stage of the Mongolia railway development plan

2 …and Leading Mongolian Producer

MMC is one of the most advanced coking coal produce rs in Mongolia, with world class operations

9

Production Ramp-up Secured by High Quality Off-take Agreements

High Production Growth3

Source: Company filings.

10

14.7

10.7

7.0

3.8

0

3

6

9

12

15

2010E 2011E 2012E 2013EContracted Sales Un-secured Sales

57% CAGR

� Ramp-up plan committed and publicly announced by Le ighton

Production Ramp-Up (ROM Mtpa)

MMC has met all key project milestones since incept ion

Strategic Location – Hard Coking Coal Closely Located to China

Distance to Baotou / Regional Chinese Railway Hub

Distance to Hebei, China’s Steel Capital

4

9,000

7,000

600

590

0 2,000 4,000 6,000 8,000 10,000

MMC

Shanxi Coal

Indonesian Coal

Australian Coal

650

1,590

6,000

8,000

0 2,000 4,000 6,000 8,000 10,000

Shanxi Coal

MMC

Indonesian Coal

Australian Coal

(km)

(km)

Source: Company filings and World Shipping Register.Notes:(1) Distance information was estimated according to web resources and company filings.(2) Uses Taiyuan as the starting point.(3) Sea distance estimated by World Shipping Register.

(3)

(3)

(3)

(3)

MMC is one of the closest open pit hard coking coal mines to key steel markets in China

(1)

(1)

(2)

(2)

Mongolia

China

Target Market Region (“TMR”)

Gashuun Sukhait / Ganqimaodu

Baotou Tangshan

We are at the Door Step of China

11

MMC is one of the lowest cost coking coal producers and exporters to the Chinese Market

Low Cost Producer…

Global Cost Curve (FOT to TMR China)

5

Notes: (1) Excludes processing expenses.Source: Wood Mackenzie.

Mongolian Mining Corporation

(1)

12

0

100

200

300

400

500

0 50 100 150Cumulative Production (Mt)

FO

T C

ash

Cos

ts (R

MB

/t) .

0 50 100 150

UHG Rest of the Mines Supplying the TMR

…with ASP and Margin Expansion5

Dalanzadgad

Zuunbayan

Khangy Mandula

Gashuun Sukhait/ Ganqimaodu

Jinquan

Linhe Xixiaozhao

BaotouHohhot

Bayan obo

Bayan hua

Mongolia

0 200

Kilometers

Planned Railway

Existing Railway

Tsagaan Khad

► Largely at minegate

► Increasing portion sold at TKH

► Obtained license to directly truck across border

Sales and Marketing Logistics

Selling Point

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

2011onwards

UHG

► Increased direct trucking across border to customers’ stockpiles

► Vast majority sold at Tsagaan Khad (“TKH”)

China

13

MMC has the ability to sell directly to end users

… With ASP and Margin Expansion (cont’d)

2

55

Off-take SalesShifting Customer Base

14

Source: Company filings.Note: (1) Represents % in currently contracted tonnages; Some end-users have nominated agents for their offtake agreements.

0% 0% 0%

69%

93% 100% 100% 100%

7%

31%

2010E 2011E 2012E 2013E 2014ETraders End Users

Production Growth Largely Secured by Off-take Agreements

% of Traders vs. End Users Secured by Off-take Agreements (1)

15.214.7

10.7

7.0

3.8

2010E 2011E 2012E 2013E 2014E

Contracted Sales Un-secured Production

Shagang

MMC End UsersCoal TraderMongolian Coal Miner

� Entered into direct off-take agreements with MMC

�

�

�

�

�

Mongolia Based Mining Company…6

15

Operating to International Practices6

� Railway design� Paved road feasibility

study

� Railway feasibility study and design

� Wash plant design and construction

� Water supply facility design and construction

� Power plant feasibility study

� Coal mining operator

� Equipment procurement

� Ramping-up of coal production capacity

� Paved road construction management

� Independent technical consultant

� Industry consultant

� Public consultant –Environmental and social responsibilities

… Facilitating success and delivery

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3. Conclusion

National Mining Champion

Mongolian MiningCorporation

Highly Favorable Industry Fundamentals

Mongolia’s National Mining Champion

Strategic Location –Hard Coking Coal Closely Located to China

Low Cost Producer with ASP and Margin Expansion

Mongolia Based Company Operating to International Practices

Leading Mongolian Producer With World Class Coking Coal Reserves

High Production Growth among Asia peers

17