Comments from Ian Kraemer Mantles MD:"The signing of this MOU...

Comments from Ian Kraemer Mantles MD:

"The signing of this MOU with Exergen is an extremely exciting step for Mantle. It underscores the Companys capability to generate shareholder value by focussing on projects containing known deposits in key commodity sectors. The Company is continuing to explore development options for its other core Gold and Coal/CBM tenements, with a number of business development activities under consideration.

Exergen has developed and proven a breakthrough clean-coal technology that promises to contribute to global energy security by reducing emissions from upgraded brown coal fired power generation. CHTD is a significant step towards overcoming the social and economic challenges posed by many nations continuedreliance on subbituminous coals for energy production.

The relationship with Exergen is seen as a first step by Mantle in implementing its exploration and development strategy for coal. The strategy involves harnessing upside from commercialisation of leading edge, socioeconomically acceptable, energy resource development.

Mantle recognises that coal and other hydrocarbon energy resources will continue to be utilised in the future due to their availability and to the rapid growth in energy demand from (especially) China and India. However, their use will move more towards extraction of the pure Hydrogen energy component, with a parallel reduction in the impact of the extraction process. This is where Mantle sees positioning itself to best capture the commercial benefits, and reduce the political risks, from developments in the coal sector going forward.

As shareholders are aware, prior to assuming the role of MD of Mantle I held the position of Project Manager responsible for development of Exergen, seconded from Thiess and reporting to the Chairman of Thiess and the Board of Exergen. During that time I developed a knowledge and belief in the technical and commercial robustness the Exergen CHTD technology, and having reviewed this opportunity for its applicability and suitability for this project with Mantle I am excited at the potential for both companies."

I find this really exciting, Mantle has partnered with a company who has technology which is the first step towards hydrogen extraction from coal, leaving the carbon component. This is the future of clean coal.