KRI Khan Resources Inc.

Khan Resources Inc. (CNSX:KRI) ("Khan" or "the Company") announced today that it
has filed its financial statements and management discussion and analysis for
the year ended September 30, 2012 on Sedar and has posted these documents to its
website www.khanresources.com.


Highlights for the year include:



--  International arbitration action against the Government of Mongolia -
    Submissions on the merits and damages arising from the Mongolian
    Government's expropriatory and unlawful treatment of Khan were filed by
    the Company on December 7, 2012. Khan's claim has been revised upwards
    from $200 to $326 million. This submission was pursuant the Tribunal's
    ruling on July 26, 2012 which was entirely in Khan's favour on matters
    of jurisdiction. The Tribunal dismissed all of Mongolia's objections to
    the continuance of the suit. 
    
--  The decision of the Court of Appeal for Ontario remains pending
    regarding the $300 million lawsuit against Atomredmetzoloto JSC
    ("ARMZ"). The appeal was heard on September 11, 2012. 
    
--  The Company closed and began decommissioning the Dornod site on June 30,
    2012 and consequently recognized non-cash impairment losses of $16.1
    million related to the Dornod Project. 
    
--  On September 30, 2012, the Company recorded an impairment loss of
    $1,953,000 on its investment in shares of Macusani Yellowcake Inc. ("
    Macusani"). 
    
--  On May 14, 2012 the Company's common shares commenced trading through
    the facilities of the Canadian National Stock Exchange ("CNSX") under
    the symbol "KRI". 
    
--  On April 19, 2012, the Company announced the closing of a non-brokered
    private placement financing resulting in the issuance of 13,600,000
    common shares at a price of $0.17 per common share for gross proceeds of
    $2,312,000. The Company plans to use the proceeds of the offering to
    advance the international arbitration case against the Government of
    Mongolia, for the lawsuit against ARMZ and for general corporate
    purposes. 
    
--  The Company's financial statements have been prepared in accordance with
    International Financial Reporting Standards ('IFRS") and in Canadian
    dollars ("CAD"). Comparative statements, previously prepared in US
    dollars under Canadian Generally Accepted Accounting Principles
    ("GAAP"), have been adjusted for changes in the functional and reporting
    currencies of the Company and its subsidiaries and other IFRS
    adjustments. 
    
--  The following table summarizes financial results of the Company for the
    fourth quarter and the years ended September 30, 2012 and 2011. 
    

In thousands of dollars                                                     
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                     Change 
                                                   2012      2011         % 
----------------------------------------------------------------------------
Net loss                                                                    
 Three months ended September 30                 (2,544)     (939)   -170.9%
 Twelve months ended September 30               (21,623)   (3,824)   -465.5%
----------------------------------------------------------------------------
Basic and diluted earnings per share (CA                                    
 cents)                                                                     
 Three months ended September 30                  (0.04)    (0.02)   -116.0%
 Twelve months ended September 30                 (0.36)    (0.07)   -404.6%
----------------------------------------------------------------------------
Cash flow                                                                   
 Year ended September 30                         (1,247)   (4,933)     74.7%
----------------------------------------------------------------------------
Cash and cash equivalents                                                   
 As at September 30                               4,680     5,927     -21.0%
----------------------------------------------------------------------------



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.
Bruce Gooding
Chief Financial Officer
Office: 416.360.3405
bgooding@khanresources.com
www.khanresources.com

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