Document:

EXHIBIT 10.5

                                 PROMISSORY NOTE

$1,650                                                   Dated:  August 25, 2003
------                                                   -----------------------

1. Principal.

FOR VALUE  RECEIVED,  the  undersigned,  Mongolian  Explorations  Ltd., a Nevada
corporation  ("Borrower"),  hereby  promises  to pay to the  order of  Timursukh
Oidov, of Ulaanbaatar,  Mongolia  ("Lender"),  the principal sum of One Thousand
Six Hundred and Fifty Dollars (U.S.$1,650) (the "Loan") without interest with no
fixed terms of repayment.

2. Manner of Payment.

Principal on the Loan, and all other amounts payable  hereunder,  are payable in
lawful currency of United States in immediately  available funds at such address
and in such form as may be required by Lender.

Unless  accelerated  pursuant to the terms of this Note,  the unpaid  balance of
this Note,  shall be due and payable on demand (the  "Maturity  Date.  No amount
paid under this Note may be  reborrowed.  All payments  received by Lender under
this Note shall be  credited  first to any charges or other  expenses  for which
Lender is entitled to payment hereunder, next to unpaid principal.

3. Events of Default/Remedies.

      a. Events of Default.  Any of the  following  events shall  constitute  an
         Event of Default:

         (1) breach by Borrower of any of  Borrower's  obligations  or covenants
         under this Note; or

         (2)  Borrower  (A) becomes  insolvent  or admits in writing  Borrower's
         inability  to pay  Borrower's  debts  as they  mature,  (B)  makes  any
         assignment for the benefit of creditors, or (C) applies for or consents
         to the  appointment  of a receiver  or trustee  for  Borrower  or for a
         substantial part of Borrower's  property or business,  or a receiver or
         trustee otherwise is appointed and is not discharged within thirty (30)
         days after such appointment; or

         (3) any of Borrower's  representations  or warranties made herein or in
         any  statement or  certificate  at any time given by Borrower  pursuant
         hereto or in connection herewith is false or misleading in any material
         respect; or

         (4)  any   bankruptcy,   insolvency,   reorganization   or  liquidation
         proceeding or other  proceeding  for relief under any bankruptcy law or
         any law for the relief of debtors is instituted by or against Borrower;
         or

         (5) any money  judgment,  writ or  warrant  of  attachment,  or similar
         process  (singly  or,  if more  than  one,  cumulatively  in  excess of
         USD$15,000)  is entered or filed against  Borrower or any of the assets
         of Borrower and (A) remains unvacated,  unbonded, unstayed, undismissed
         or undischarged  for a period of thirty (30) days or in any event later
         than five (5) days before the date of any proposed sale thereunder,  or
         (B)  Borrower  has not  appealed  the same in good  faith  to  Lender's
         satisfaction; or

<PAGE>

         (6) the  condition,  financial or  otherwise,  of Borrower  suffers any
         material adverse change, in the reasonable opinion of Lender; or

      b Remedies.  Upon demand or upon the occurrence and during the continuance
      of an Event of Default described in Subsections  3(a)(2) or 3(a)(4) above,
      all  indebtedness  under this Note shall  automatically be immediately due
      and payable.  In addition,  Lender,  at its option,  and without notice to
      Borrower,  may take one or more of the actions  described below.  Upon the
      occurrence  and  during the  continuance  of any other  Event of  Default,
      Lender at its option and, unless otherwise specified below, without notice
      to Borrower, may do any one or more of the following:

         (1)  declare  all  indebtedness  under  this Note  immediately  due and
         payable and credit any sums  received  thereafter  in such manner as it
         elects upon such indebtedness; provided, however, that such application
         of sums so  received  shall  not  serve to  waive  or cure any  default
         existing under this Note nor to invalidate any notice of default or any
         act done  pursuant to such notice and shall not prejudice any rights of
         Lender; and

         (2) exercise any or all rights  provided or permitted by law or granted
         pursuant  to this Note in such order and in such  manner as Lender may,
         in its sole judgment, determine.

      c. No Waiver of Remedies.  No waiver of any breach of or default under any
      provision  of this Note shall  constitute  or be  construed as a waiver by
      Lender of any  subsequent  breach of or  default  under  that or any other
      provision of this Note.

      d.  Remedies Not  Exclusive.  No remedy  herein  conferred  upon Lender is
      intended  to be  exclusive  of any  other  remedy  herein  or in any other
      agreement between the parties hereto or by law provided or permitted,  but
      each shall be  cumulative  and shall be in addition to every other  remedy
      given  hereunder  or now or  hereafter  existing  at law,  in equity or by
      statute.

4. Covenants and Agreements.

Borrower  hereby  makes the  following  covenants,  which  shall be deemed to be
continuing  covenants  until payment in full of all  indebtedness of Borrower to
Lender arising under this Note:

      a. Borrower shall  promptly  notify Lender in writing of the occurrence of
      any act or event including, without limitation, the commencement or threat
      of any action,  suit,  claim or  proceeding  against or  investigation  of
      Borrower,  which could  materially and adversely  affect Borrower or which
      could impair the validity,  effectiveness or enforceability  of, or impair
      Borrower's ability to perform its obligations under, this Note, and of the
      occurrence  of any Event of Default or any event  which with the giving of
      notice,  the lapse of time, or both,  would become an Event of Default and
      the action Borrower proposes to take with respect thereto.

      b.  Borrower  shall,  at any time and from time to time,  upon the written
      request of Lender,  execute and deliver to Lender such  further  documents
      and instruments and do such other acts and things as Lender may reasonably
      request in order to effectuate fully the purpose and intent of this Note.

<PAGE>

5. Representations and Warranties of Borrower.

Borrower hereby makes the following representations and warranties,  which shall
be deemed to be continuing  representations and warranties until payment in full
of all indebtedness of Borrower to Lender arising pursuant to this Note:

      a. No Conflict.  The execution,  delivery and performance of this Note are
      not in  contravention  of or in conflict with any agreement,  indenture or
      undertaking  to which  Borrower is a party or by which  Borrower or any of
      Borrower's  assets or property  may be bound or affected  and do not cause
      any security interest,  lien or other encumbrance to be created or imposed
      upon any such property by reason thereof.

      b. Litigation.  There is no action,  suit or proceeding pending or, to the
      best of Borrower's  knowledge and belief,  threatened against or affecting
      Borrower which could impair the validity,  effectiveness or enforceability
      of, or impair  Borrower's  ability to perform its obligations  under, this
      Note,  whether said actions,  suits or proceedings are at law or in equity
      or before or by any governmental authority.

6. Legal Fees.

Borrower  agrees to pay all costs and  expenses,  including  without  limitation
reasonable   attorneys'  fees,   incurred  by  Lender  in  connection  with  the
enforcement of any obligation of Borrower under this Note.

7. Severability.

In case any term or any  provision  of this Note  shall be  invalid,  illegal or
unenforceable,  such provision shall be severable from the rest of this Note and
the validity,  legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby.

8. Headings.

Headings  used in this Note are inserted for  convenience  only and shall not be
deemed to constitute a part hereof.

9. Governing Law.

This Note shall be governed by and construed in accordance  with the laws of the
State of Nevada.

                                             Borrower:

                                             MONGOLIAN EXPLORATIONS LTD.
                                             a Nevada corporation

                                             By: /s/ Ivan Bebek

                                             Ivan Bebek, PresidentEXHIBIT 10.6

                                 PROMISSORY NOTE

$30,000                                                 Dated:  October 15, 2003
-------                                                 ------------------------

1. Principal.

FOR VALUE  RECEIVED,  the  undersigned,  Mongolian  Explorations  Ltd., a Nevada
corporation ("Borrower"),  hereby promises to pay to the order of Ivan Bebek, of
Vancouver ("Lender"), the principal sum of Thirty Thousand Dollars (U.S.$30,000)
(the "Loan") without interest with no fixed terms of repayment.

2. Manner of Payment.

Principal on the Loan, and all other amounts payable  hereunder,  are payable in
lawful currency of United States in immediately  available funds at such address
and in such form as may be required by Lender.

Unless  accelerated  pursuant to the terms of this Note,  the unpaid  balance of
this Note,  shall be due and payable on demand (the  "Maturity  Date.  No amount
paid under this Note may be  reborrowed.  All payments  received by Lender under
this Note shall be  credited  first to any charges or other  expenses  for which
Lender is entitled to payment hereunder, next to unpaid principal.

3. Events of Default/Remedies.

      a. Events of Default.  Any of the  following  events shall  constitute  an
         Event of Default:

         (1) breach by Borrower of any of  Borrower's  obligations  or covenants
         under this Note; or

         (2)  Borrower  (A) becomes  insolvent  or admits in writing  Borrower's
         inability  to pay  Borrower's  debts  as they  mature,  (B)  makes  any
         assignment for the benefit of creditors, or (C) applies for or consents
         to the  appointment  of a receiver  or trustee  for  Borrower  or for a
         substantial part of Borrower's  property or business,  or a receiver or
         trustee otherwise is appointed and is not discharged within thirty (30)
         days after such appointment; or

         (3) any of Borrower's  representations  or warranties made herein or in
         any  statement or  certificate  at any time given by Borrower  pursuant
         hereto or in connection herewith is false or misleading in any material
         respect; or

         (4)  any   bankruptcy,   insolvency,   reorganization   or  liquidation
         proceeding or other  proceeding  for relief under any bankruptcy law or
         any law for the relief of debtors is instituted by or against Borrower;
         or

         (5) any money  judgment,  writ or  warrant  of  attachment,  or similar
         process  (singly  or,  if more  than  one,  cumulatively  in  excess of
         USD$15,000)  is entered or filed against  Borrower or any of the assets
         of Borrower and (A) remains unvacated,  unbonded, unstayed, undismissed
         or undischarged  for a period of thirty (30) days or in any event later
         than five (5) days before the date of any proposed sale thereunder,  or
         (B)  Borrower  has not  appealed  the same in good  faith  to  Lender's
         satisfaction; or

<PAGE>

         (6) the  condition,  financial or  otherwise,  of Borrower  suffers any
         material adverse change, in the reasonable opinion of Lender; or

      b. Remedies. Upon demand or upon the occurrence and during the continuance
      of an Event of Default described in Subsections  3(a)(2) or 3(a)(4) above,
      all  indebtedness  under this Note shall  automatically be immediately due
      and payable.  In addition,  Lender,  at its option,  and without notice to
      Borrower,  may take one or more of the actions  described below.  Upon the
      occurrence  and  during the  continuance  of any other  Event of  Default,
      Lender at its option and, unless otherwise specified below, without notice
      to Borrower, may do any one or more of the following:

         (1)  declare  all  indebtedness  under  this Note  immediately  due and
         payable and credit any sums  received  thereafter  in such manner as it
         elects upon such indebtedness; provided, however, that such application
         of sums so  received  shall  not  serve to  waive  or cure any  default
         existing under this Note nor to invalidate any notice of default or any
         act done  pursuant to such notice and shall not prejudice any rights of
         Lender; and

         (2) exercise any or all rights  provided or permitted by law or granted
         pursuant  to this Note in such order and in such  manner as Lender may,
         in its sole judgment, determine.

      c. No Waiver of Remedies.  No waiver of any breach of or default under any
      provision  of this Note shall  constitute  or be  construed as a waiver by
      Lender of any  subsequent  breach of or  default  under  that or any other
      provision of this Note.

      d.  Remedies Not  Exclusive.  No remedy  herein  conferred  upon Lender is
      intended  to be  exclusive  of any  other  remedy  herein  or in any other
      agreement between the parties hereto or by law provided or permitted,  but
      each shall be  cumulative  and shall be in addition to every other  remedy
      given  hereunder  or now or  hereafter  existing  at law,  in equity or by
      statute.

4. Covenants and Agreements.

Borrower  hereby  makes the  following  covenants,  which  shall be deemed to be
continuing  covenants  until payment in full of all  indebtedness of Borrower to
Lender arising under this Note:

      a. Borrower shall  promptly  notify Lender in writing of the occurrence of
      any act or event including, without limitation, the commencement or threat
      of any action,  suit,  claim or  proceeding  against or  investigation  of
      Borrower,  which could  materially and adversely  affect Borrower or which
      could impair the validity,  effectiveness or enforceability  of, or impair
      Borrower's ability to perform its obligations under, this Note, and of the
      occurrence  of any Event of Default or any event  which with the giving of
      notice,  the lapse of time, or both,  would become an Event of Default and
      the action Borrower proposes to take with respect thereto.

      b.  Borrower  shall,  at any time and from time to time,  upon the written
      request of Lender,  execute and deliver to Lender such  further  documents
      and instruments and do such other acts and things as Lender may reasonably
      request in order to effectuate fully the purpose and intent of this Note.

<PAGE>

5. Representations and Warranties of Borrower.

Borrower hereby makes the following representations and warranties,  which shall
be deemed to be continuing  representations and warranties until payment in full
of all indebtedness of Borrower to Lender arising pursuant to this Note:

      a. No Conflict.  The execution,  delivery and performance of this Note are
      not in  contravention  of or in conflict with any agreement,  indenture or
      undertaking  to which  Borrower is a party or by which  Borrower or any of
      Borrower's  assets or property  may be bound or affected  and do not cause
      any security interest,  lien or other encumbrance to be created or imposed
      upon any such property by reason thereof.

      b. Litigation.  There is no action,  suit or proceeding pending or, to the
      best of Borrower's  knowledge and belief,  threatened against or affecting
      Borrower which could impair the validity,  effectiveness or enforceability
      of, or impair  Borrower's  ability to perform its obligations  under, this
      Note,  whether said actions,  suits or proceedings are at law or in equity
      or before or by any governmental authority.

6. Legal Fees.

Borrower  agrees to pay all costs and  expenses,  including  without  limitation
reasonable   attorneys'  fees,   incurred  by  Lender  in  connection  with  the
enforcement of any obligation of Borrower under this Note.

7. Severability.

In case any term or any  provision  of this Note  shall be  invalid,  illegal or
unenforceable,  such provision shall be severable from the rest of this Note and
the validity,  legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby.

8. Headings.

Headings  used in this Note are inserted for  convenience  only and shall not be
deemed to constitute a part hereof.

9. Governing Law.

This Note shall be governed by and construed in accordance  with the laws of the
State of Nevada.

                                          Borrower:

                                          MONGOLIAN EXPLORATIONS LTD.
                                          a Nevada corporation

                                          By:/s/ Ivan Bebek
                                          Ivan Bebek
                                          President

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