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Khan Announces Termination of Agreement with Arden Holdings Ltd.

TORONTO, ONTARIO–(Marketwired – May 4, 2017) – Khan Resources Inc. (“Khan” or the “Company“) (CSE:KRI) announces that the arrangement agreement (the “Arrangement Agreement“) with Arden Holdings Ltd. and its wholly owned subsidiary (together, “Arden“) to purchase the shares of Khan at $0.05 per share has been terminated. Based on proxies received, the Company has determined that there will be less than the required two-thirds majority votes in favour of the transaction. The Company and Arden have agreed to terminate the Arrangement Agreement, and the Company has paid the CAD$175,000 termination fee contemplated in the Arrangement Agreement.