Khan Files Fiscal Year End 2013 Financial Results

TORONTO, ONTARIO, Canada, January 15, 2014 – Khan Resources Inc. (CSE:KRI) ("Khan" or "the
Company") announced today that it has filed its financial statements and management discussion and analysis for
the year ended September 30, 2013 on Sedar and has posted these documents to its website
Highlights for the year include:
 International arbitration action against the Government of Mongolia - the hearing by the International
Arbitration Tribunal on merits and quantum was held and completed between November 11 and November
15, 2013. Arguments were heard by the Tribunal from Khan and from the Government of Mongolia on the
merits of the case and the damages incurred by Khan due to the illegal expropriation in 2009 of the mining
and exploration licenses for the Dornod uranium project in northeastern Mongolia. The amount of
damages sought by Khan currently exceeds $326 million.

 Investments - During the year, the fair value of the Company’s investment in Macusani Yellowcake. Inc.
(Macusani) common shares decreased by $1,009,000 net of an impairment reversal of $233,000 which was
recorded in accumulated other comprehensive income (loss) (2012 – impairment loss of $1,953,000).

 Equity issue - On September 24, 2013, the Company announced the closing of a non-brokered private
placement financing resulting in the issuance of 7,237,703 common shares at a price of $0.17 per common
share for gross proceeds of $1,230,410. The Company plans to use the proceeds of the offering to advance
the international arbitration case against the Government of Mongolia and for general corporate purposes.

 Corporate matters - On August 22, 2013 the Company decided to close its operations in Mongolia. Results
of Mongolian operations were a loss of $219,000 (2012 – loss of $ 16,261,000) and the results are reported
as discontinued operations on the face of the Company’s audited consolidated statement of comprehensive
loss for the year ended September 30, 2013 with reclassified comparative results for the year ended
September 30, 2012.

 Atomredmetzoloto (“ARMZ”) litigation – On April 2, 2013 the Court of Appeal for Ontario dismissed
Khan’s appeal to validate, substitute or dispense with service of Khan’s Statement of Claim against ARMZ,
its Russian partner in Mongolia. ARMZ had avoided service of the Statement of Claim as the Russian
Ministry of Justice had invoked Section 13 of the Hague Convention which allowed Russia to refuse to
serve ARMZ as a matter of Russian sovereignty or security. Khan has decided not to appeal this decision to
the Supreme Court of Canada.

Source: Khan Resources


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