NEW VENTURE WITH JIANGSU DATANG INTERNATIONAL JINTAN IN CHINA Ausmon Resources Limited ("Ausmon") is pleased to advise that it has entered into an agreement with Jiangsu Datang International Jintan ("Jiangsu") setting out the working arrangements for a joint development of a gas-fired thermoelectric co-generation power project ("Project") in Jiangsu Province in China to supply power to the Jintan Economic Development Zone. The Project consists of the construction in two phases of a 1,000 MW gas fired thermoelectric co-generation power plant involving investments of RMB 4.5 billion (approximately A$ 700 million). The Project also includes the construction of a natural gas pipeline to transport gas from the supplier to the power plant. Ausmon through its business relationships will source gas supply for the Project and has carriage for the construction of the pipeline. Both parties have agreed to proceed immediately with all the studies, approval procedures and other processes to implement the Project. Ausmon will seek the approval of its shareholders prior to capital investment in the Project at the relevant time, by reason of its size and nature relative the company's current operations.
