TMK Energy Limited advised that, after the efficient drilling of Snow Leopard - 04 (SL-04), it has committed to drill SL-05 which is an opportunity to gather additional information on the upper and lower coal seams at relatively low cost at the Gurvantes XXXV CSG Project in the South Gobi Basin in Mongolia. SL-05 presents a low cost (USD 100,000) opportunity and is expected to be drilled to a depth of approximately 650 metres and is located midway between SL-02 and SL-04. SL-05 will complete the 2022 exploration drilling program and is being opportunistically undertaken to build on the excellent results to date and gather more data from both the upper and lower coal seams. The additional well is opportunistic given the current drilling rig is under contract and the necessary personnel and equipment are currently on site and available to complete the drilling and testing of an additional well.

Drilling continues at the SL-03R location following the re-start of operations. SL-03R is specifically targeting the lower seam adjacent to where the upper seam was intersected in SL-03 and is expected to take approximately two more weeks to drill and test. The results from all five exploration wells will be incorporated into the dataset to determine the Company's maiden contingent resource assessment expected to be completed in October 2022.