Mongolia Energy Corporation (HKG:0276) Rated BUY by Frontier Securities

Hong Kong, Feb 23, 2010 AEST (ABN Newswire) - Mongolia Energy Corporation (HKG:0276) (PNK:MOAEF) is a Hong-Kong based mining company whose primary focus is the exploration, development and operation of energy-related projects in Mongolia. Mongolia Energy was formerly known as New World Cyberbase.

The local exchange does not allow mining companies in the exploration stage and without economically proven production prospects to apply for listings, the only way for MEC to list itself was by selling all its projects to a company that was already listed.

New World Cyberbase was the e-commerce flagship of conglomerate New World Development but it changed its name to Mongolia Energy in 2007 and reformulated its business strategy to focus on mining projects in Mongolia. Since 2007, MEC has acquired and invested in several mining projects in Mongolia and Xinjiang.

Its primary focus has been on Western Mongolia, bordering Xinjiang, where it owns approximately 330,000 hectares of concession areas for coal, ferrous and non-ferrous metals. It has also made signifi-cant investments into Oil & Gas projects in Western and South Mongolia.

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http://www.abnnewswire.net/media/en/docs/62332-Mongolia_Energy_Corporation.pdf

Contact

Enkhbaatar Demberel Email: en@frontier.mn Odmaa Narantungalag Email: od@frontier.mn TEL: +976-70-11-99-99 FAX: +976-70-11-19-91