TORONTO, ONTARIO, Mar 01, 2010 (MARKETWIRE via COMTEX) -- Khan Resources Inc. ("Khan") announced today that it acknowledges that Atomredmetzoloto JSC ("ARMZ"), a Russian state-owned nuclear energy corporation, intends to allow its unsolicited offer to purchase all of the outstanding common shares of Khan (the "Shares") for $0.65 per Share to expire. The decision by ARMZ to abandon its bid comes in the face of the commencement on February 26 by CNNC Overseas Uranium Holding Ltd. ("CNNC") of its superior offer to acquire all of the outstanding Shares for $0.96 in cash per Share (the "CNNC Offer").