TurkPower Corporation announced that it is has entered a binding purchase agreement to purchase the Zavyalov Square of the Toguchino Coal Field located in the Toguchino District of Novosibirsk Region, Russia.

Zavyalov decrees over 100 million tonnes of forecasted extractable quantity of coal.

As part of the transaction the Company receives inventory of coking coal worth in excess of USD 20 million which the Company expects to ship in the first quarter of 2012.

Coal at Zavyalov is typically humic with relative low moisture, volatile matters and GCV of 7990 to 8680 kilocalories per kilogram. The grades of coal are fit for processing into hard coking coal and metallurgical coke which are both in perpetual short supply and which trade at high premiums to regular coal.

The Company will inform about its revised business plan and forecasts, its planned name change as well as management and board of directors additions in the coming weeks.