Inner Mongolia Pacific, a cooperative joint venture company controlled by the
Company, has entered into a geological exploration design agreement (the
“Geological Exploration Design Agreement”) with Jinsheng Mining on 3
September 2012 pursuant to which Jinsheng Mining has agreed to prepare the next
stage geological exploration design with respect to the Haoyaoerhudong region of the
CSH Mine. Inner Mongolia Pacific has also entered into an ore processing technology
development agreement (the “Ore Processing Technology Development
Agreement”) with the Technical Centre on 3 September 2012 pursuant to which the
Technical Centre has agreed to provide research and development services to advance
the ore processing technology of the CSH Mine. Further, Huatailong has also entered into a purchase agreement (the “Purchase
Agreement”) with Henan Jinyuan on 3 September 2012 pursuant to which
Huatailong shall purchase from Henan Jinyuan ball mill liners and spare parts for the
ball mill liners at the Jiama Mine                     http://www.etnet.com.hk/www/tc/news/categorized_news_detail_eng.php?category=company&newsid=ETE220904210&page=1