KRI Khan Resources Inc.

Khan Resources Inc. (CNSX:KRI) ("Khan" or the "Company") is pleased to provide
to shareholders this update to the Company's international arbitration action
against the Government of Mongolia. On July 25, 2012 the Company announced the
Tribunal hearing this matter in May of this year ruled entirely in Khan's favour
on matters of jurisdiction and has dismissed all of Mongolia's objections to the
continuance of the suit. The action has now progressed to the quantum and
damages phase. On December 7, 2012, Khan submitted to the Tribunal seven volumes
of documentation in support of its claim. Khan's claim for damages totals US$326
million, including interest from the July 2009 date of the expropriation of the
Dornod deposit by the Government of Mongolia. 


The seven volumes total approximately 500 pages of documentation of the claim
itself along with thousands of pages of supporting documentation. The
documentation includes two independent valuation reports; one by Raymond James
Ltd. and one by the Berkeley Research Group. Also included is a report by an
independent legal expert on Mongolian law in support of Khan's claim. 


The Government of Mongolia is allowed until April 5, 2013 to formulate their
response to the Company's claim and then Khan will have until June 28, 2013 to
respond to the Government's defense. The Tribunal will meet from November 11
through to November 15, 2013, to hear the claim and their ruling would be
expected in the first half of the subsequent year. 


Mr. Grant Edey, President and Chief Executive Officer of Khan, commented "While
the process of International Arbitration is long - we initiated our suit in
January 2011 - we remain confident in a favourable outcome and that we will
receive value for our investments in Mongolia." 


Khan intends to pursue, to the limit of international law, the judgement and
collection of the damage award. 


Forward-Looking Statements and Information

This press release may contain forward-looking statements and forward-looking
information, which are subject to certain risks, uncertainties and assumptions.
Forward-looking statements and information are characterized by words such as
"will", "plan", "expect", "project", "intend", "believe", "anticipate",
"forecast", "schedule", "estimate" and similar expressions, or statements that
certain events or conditions "may" or "will" occur. Forward-looking statements
and information are not historical facts and are based upon a number of
estimates and assumptions and are inherently subject to significant business,
social, economic, political, regulatory, competitive and other risks and
uncertainties, contingencies and other factors, including the impact of
international, Mongolian and Canadian laws, trade agreements and regulatory
requirements on Khan's business, properties, licenses, operations and capital
structure, Khan's ability to re-instate or re-register the Dornod uranium
project licenses, regulatory uncertainty and obtaining governmental and
regulatory approvals, legislative, political, social, regulatory and economic
developments or changes in jurisdictions in which Khan carries on business, the
nature and outcome of pending and future litigation, arbitration and other legal
proceedings, the speculative nature of exploration and development, risks
involved in the exploration, development and mining business, changes in market
conditions, changes or disruptions in the securities markets and market
fluctuations in prices for Khan securities, the existence of third parties
interested in purchasing some or all of the common shares or Khan's assets, the
method of funding and availability of any potential alternative strategic
transactions involving Khan or its assets, including those transactions that may
produce strategic value to shareholders, the need to obtain, maintain and/or
re-register licenses and permits and comply with national and international
laws, regulations, treaties or other similar requirements, and uncertainty in
the estimation of mineral reserves and resources. In addition, a number of other
factors could cause actual results to differ materially from the results
discussed in such statements and information, and there is no assurance that
actual results will be consistent with them. For further details, reference is
made to the risk factors discussed or referred to in Khan's annual and interim
management's discussion and analyses and Annual Information Form on file with
the Canadian securities regulatory authorities and available on SEDAR at
www.sedar.com. Such forward-looking statements and information are made or given
as at the date of this news release, and Khan assumes no obligation to update or
revise them, either publicly or otherwise, to reflect new events, information or
circumstances, except as may be required under applicable securities law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Investor Relations Contacts: Khan Resources Inc.
Grant Edey
President & CEO
Office: 416.360.3405
gedey@rogers.com


Khan Resources Inc.
Marilyn Barton
Manager, Administration
Office: 416.360.3405
mbarton@khanresources.com

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