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Abstract
WorldStar's Mongolian licenses cover an aggregate of some 817,000 hectares (8,200 square kilometers) of lands believed to be prospective for base and precious minerals in Mongolia. Eight of its licenses are located in the South Gobi region where the mineral of interest is coal. This area of Mongolia is known to host coal mineralization where several projects are currently in advanced exploration stages. WorldStar's coal prospective licenses cover more than 50% of the licensed area.
WorldStar further advises that Mr. Amrasanaan Baljinnyam has been appointed Executive Director of Bulgan Gold LLC ("Bulgan"), its Mongolian subsidiary. Mr. Baljinnyam is a professional administrator with government and mineral exploration industry experience in Mongolia, and replaces Mr. Bazar Radnaabazar who left Bulgan to pusue other interests, but who remains a minority shareholder. Bulgan holds a 100% interest in the company's Mongolian licenses referred to above.