CIC CI Canadian Banks Coverd Call Income Class ETF

SouthGobi Energy Resources Ltd. (TSX:SGQ)(SEHK:1878) announced today that it
intends to provide Land Breeze II, a wholly owned subsidiary of China Investment
Corporation ("CIC"), a notice of intention to convert US$250 million of the
US$500m convertible debenture ("the Debenture") issued to Land Breeze II into
common shares of SouthGobi Energy Resources, following receipt of confirmation
by the Stock Exchange of Hong Kong Limited of its approval to list and deal in
the shares upon conversion.


Pursuant to the Debenture conversion terms, SouthGobi has the right to call for
the conversion of up to US$250 million of the Debenture upon SouthGobi achieving
a public float of 25% of its common shares.


SouthGobi will issue common shares to Land Breeze ll, based on the conversion
price of the lower of C$11.88, the base conversion value established by the
terms of the Debenture or the 50-day VWAP at the date of conversion. Upon this
conversion, China Investment Corporation, through its wholly owned subsidiary,
will own approximately 13% of the common shares of SouthGobi Energy Resources.


China Investment Corporation 

CIC is the sovereign wealth fund of the People's Republic of China.

Information about CIC is available on its website:
www.china-inv.cn/cicen/about_cic/aboutcic_overview.html


About SouthGobi Energy Resources

SouthGobi Energy Resources is focused on exploration and development of its
Permian-age metallurgical and thermal coal deposits in Mongolia's South Gobi
Region. The Company's flagship coal mine, Ovoot Tolgoi, is producing and selling
coal to customers in China. The Company plans to supply a wide range of coal
products to markets in Asia.


Forward-Looking Statements: This document includes forward-looking statements.
Forward-looking statements include, but are not limited to, Plans to supply a
wide range of coal products to markets in Asia; and other statements that are
not historical facts. When used in this document, the words such as "plan,"
"estimate," "expect," "intend," "may," and similar expressions are
forward-looking statements. Although SouthGobi believes that the expectations
reflected in these forward-looking statements are reasonable, such statements
involve risks and uncertainties and no assurance can be given that actual
results will be consistent with these forward-looking statements. Important
factors that could cause actual results to differ from these forward-looking
statements are disclosed under the heading "Risk Factors" in SouthGobi's
Management Discussion and Analysis of Financial Condition and Results of
Operations for the year ended Dec. 31, 2008, and for nine months ended September
30, 2009, all of which are available at www.sedar.com.

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