Planned Railways in Mongolia

Existing railway line

Planned railway line in 2010

Planned railway line in 2011

Planned railway line in 2015

ULAANGOM

ALTAI

ERDENETDARHAN

ULAANBAATAR

CHOIBALSAN

BARUUN-URT

SAINSHAND

Tsagaahnuur

Tsagaan hairrhan uul

Tsagaan tolgoi

TsagaanhairhanBaruunturuun

Urgamal

DorvoljinArgalant

Jargalan

Tayangiynnuruu

Burgastai

Altai

Tseel

Shinejinst

Shiveehuren

Nariin suhait

Gashuunsuhait

Tavan tolgoi

Tsagaan suvargaZuunbayan

Zamiyn-Uud

Bor-Ondor

Bagahangai

Baganuur

Shariyn gol

Altanbulag Ereentsav

Rashaant

Toson uul

Matad

Bichigt

Tamsag bulag

Source: Mongolia Railroad Policy, Eurasia Capital

Black Hills

MONGOLIA

RUSSIA

CHINA

CHOIR

Company Accomplishments• Completed initial NI 43-101 compliant

Resource Estimate at the Ovdog Hudag deposit

• Successfully converted the Exploration License in to a Mining License for the entire concession

• Conducted a technical program to test coal characteristics and washability. Initial results suggest that ash and sulfur can be substantially reduced, indicating that the mine could produce an attractive product for the regional market

• Completed a review of historic exploration material on Oortsog Ovoo and designed an exploration program for the project

Company ObjectivesCoal

• Commence additional drilling and surface exploration to maximize Ovdog Hudag-Ikh Ulaan Nuur for full potential including:

• Infill and expansion drilling to expand resources and upgrade resource category

• Step-out drilling towards Ikh Ulaan-Nuur deposit to evaluate seam continuity

• Complete washability study

• Complete Pre-Feasibility or Feasibility Study for the project

• Move the coal project in to development as early as 2014

• Acquire additional coal projects focusing on coking coal and thermal coal in proximity to near-term infrastructure development

Metals• Conduct an extensive exploration program

including detailed mapping, geophysics and drilling

• Complete a drilling program and a subsequent initial NI 43-101 compliant resource with the goal of substantially exceeding the historic resources of 39,000t of contained tin (Sn)

• Evaluate potential for other valuable commodities on the property, including a potential copper system where surface samples have shown up as high as 1.5%, 3% and 6% Cu

Black Hills Project Overview• Black Hills (Khar Tolgoi) property is located 100km from the Choir railway station and has a 35KWatt power line on the property

• The mining license consists of 34,055 hectares and includes the Ovdog Hudag-Ikh Ulaan-Nuur thermal coal deposits and the Oortsog Ovoo polymetallic project

• The company plans to monetize its coal assets through conventional open-pit mining as well as the application of new technologies for underground coal gasification

• The company will endeavor to conduct substantial exploration on the polymetallic project and expects Oortsog Ovoo to become one of the largest undeveloped tin projects in the world

MogulFS113v3

C anadian company focusing on acquisition, exploration and development of coal and metals projects in Mongolia. The Company is developing

its 100% owned flagship Black Hills property, consisting of Ovdog Hudag-Ikh Ulaan Nuur thermal coal project and Oortsog Ovoo polymetallic project, both located in Middle Gobi near Choir city. The coal project has a NI 43-101 compliant report prepared by SRK Consulting Ltd.

MOGUL VENTURES CORP. 100 King St E, Ste 5700, Toronto, ON, M5X 1C7, Canadap +1 416.915.4202 F +1 416.497.6426 E info@mogulvc.com w www.mogulvc.com

Ovdog Hudag Coal Deposit• Initial NI 43-101 compliant 89.6 Mt of Inferred Resources based on a limited

14 drill hole program1

• Deposit’s historical resources based on Russian drilling from the 1960s and 1970s (non 43-101 compliant) estimated a C1 resource of 135 Mt and a C2 resource of 66.2 Mt for a total of 201.2 Mt

• The deposit is comprised of 5 shallowly-dipping coal seams ranging from 1m to 71m thick and defined by 85 historical drill holes

• 2,370m, 14 hole diamond drilling program completed Q3, 2011 to form basis for 43-101 Resource Estimate and Technical Report

• An additional large-core 5 hole diamond drilling program completed Q3, 2012. Samples were used for the ongoing technical program to test coal characteristics and washability

Ikh Ulaan-Nuur Coal Deposit• Located 7km northeast of Ovdog Hudag Deposit

• Ikh Ulaan-Nuur historical coal resources (C2) were estimated at 88.4 Mt

• Drilling program planned to establish and confirm resource potential and coal characteristics

• Potential for Ovdog Hudag and Ikh Ulaan-Nuur to be linked by drilling in between

• Total historic resources for Ovdog Hudag-Ikh Ulaan Nuur were based on 137 drill holes

Oortsog Ovoo Polymetallic Project• Cassiterite (Sn) skarn system with Cu-Zn-Pb-Fe-W-Ag-In

• Twenty four ore bodies have been identified and studied to varying extents

• Historic exploration focused on Sn provided following results:

• Historic Resources totalling 39,237 t Sn Metal reported*

• ~6.7 Mt at an average grade of 0.60% Sn, with no credits for other metals present

• The deposit was proposed to be mined via 5 open pits to a maximum depth of 150m, with average stripping ratio of 4:1

• Tremendous exploration upside as historically only outcropping ore bodies were explored at shallow depths, minimal exploration focused on Au

ULAAN NUUR-2

IKH ULANN NUUR

ULANN NUUR-3

OORTSOGOVOO

OVDUGKHUDAG

ENGERIINULAAN NUUR

Proterozoic

MezozoicPaleozoic

CretaceousLower

CretaceousUpper

Proterozoic

Mezozoic

NKilometers

-2 2 40 6

Building materials depositsCoal depositsRare and base metals depositOld drill holes, on Oortsog ovoo2011 drill holes, on Ovdog khudagUpper cretaceous coal bearing formationLower cretaceous volcanogenic formationProterozoic metamorphic formationPaleozoic and mezozoic graniteBoundary of license area

LEGEND

39,237.2 t (historic) Tin (Sn)RESOURCEDEPOSIT COMMODITY

OORTSOG OVOO

Source: ThreeSummit LLC

MogulFS113v3

Mogul Ventures Teamsteven Khan, MBa, CFa Executive Chairman & Director

JaMul JadaMBa, MBa CEO & President, Director

Paul haBer CFO

dr . david a. terr y, Ph.d., P.Geo. Senior Technical Advisor

MiChael hawKins, P.Geo. Director

Mazen haddad Director

Mongolian Coal• Viewed as Saudi Arabia of Coal: total

minable resources are estimated at 162Bt 2

• Current coal production of about 20Mt per year (mostly exported to China), expected to reach 60-70Mt by 2015 3

• High quality and highly accessible: generally near surface, ideal for low cost open pit mining, dominated by high-quality low ash, low sulfur and low phosphorous coals

• Known Geology: 12 coal basins, 3 regions with over 200 deposits of thermal and metallurgical grade coal

NOTES

1 Ovdog Hudag Coal Deposit, Mogul Ventures Corp. – 43-101 report by SRK Consulting (China) Ltd., December 31, 2011

2 Renaissance Capital’s June 15, 2011 report on “Moncoalia”

3 Mongolian Ministry of Mineral Resources and Energy

M O GUL V EN T UR E S CO R P.

100 King St. West, Suite 5700, Toronto, Ontario, M5X 1C7, Canada p +1 416.915.4202 • F +1 416.497.6426 • E info@mogulvc.com w www.mogulvc.com

WESTERN

NORTH-WESTERN

NORTHERN

MIDDLE

CENTRAL

SOUTHERN

SOUTH-EASTERN

EASTERN

N

250 250 5000

meters

Drill holes

Trenches

Ore bodies

Ore zones

LEGEND

Source: ThreeSummit LLC

ORE ZONENUMBER OF ORE BODIES

RESERVE (RESOURCE) TN SN AVERAGE GRADE %

C2

P1

C2+P

1

Northern 919347.6

0.64-

19347.6 0.64

Eastern 710535.8

0.75926.4 1.13

11462.2 0.77

Central 53430.1

0.47-

3430.1 0.47

South-eastern 113104.3

0.651494.6

0.654598.9

0.65

Southern 1434.4 0.53

-434.4 0.53

SUM 3336852.2

0.642421.0

0.7739237.2

0.65