Greentech Technology International : Announcements and Notices - Mineral Resource Update

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GREENTECH TECHNOLOGY INTERNATIONAL LIMITED

綠 科 科 技 國 際 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 00195)

MINERAL RESOURCE UPDATE

This announcement is made by Greentech Technology International Limited (the ''Company'', together with its subsidiaries, the ''Group'') pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'') and the Inside Information Provisions (as defined under the Listing Rules) of Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company is pleased to report the updated Mineral Resource estimate for the Renison Tin Project as at 31 March 2019. The Renison Tin Project is located in Tasmania, Australia and is based on Bluestone Mines Tasmania Pty Limited's assets which consist of (1) the Renison Bell mine, concentrator and infrastructure (''Renison Bell''), (2) the Mount Bischoff opencut tin project (''Mt Bischoff'') and (3) the Renison tailings retreatment project (''Rentails Project'' or ''Rentails''). YT Parksong Australia Holding Pty Limited (''YTPAH''), an 82% owned subsidiary of the Company, has a 50% interest in the Renison Tin Project.

The updated Mineral Resource estimate for the Renison Tin Project at 31 March 2019 was reported in accordance with the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves, published by the Joint Ore Reserves Committee (''JORC''), of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia, December 2012 (''JORC Code'').

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Resource definition and grade control drilling continues with two rigs currently in operation. Update of the ore reserve estimate and life-of-mine plan is progressing with expected completion in the September 2019 quarter.

HIGHLIGHTS (100% basis)

• 22% increase in contained tin in mineral resources at the Renison underground tin (Sn) mine (Renison Bell), increasing from 215,700 tonnes of contained tin to 263,000 tonnes of contained tin.
  o Total Renison Bell Measured, Indicated and Inferred resource of 17.55 Mt at 1.50% Sn for 263,000 tonnes of contained tin.
• 14.5% increase in total mineral resource grade for Renison Bell from 1.31% Sn to 1.50% Sn.
• 93% increase in Measured and Indicated resources for Renison Bell from 118,600 tonnes of contained tin to 228,800 tonnes of contained tin.

MINERAL RESOURCE STATEMENT

Table 1 below shows the updated mineral resource estimate for the Renison Tin Project at 31 March 2019. YTPAH has a 50% share of the mineral resource estimate shown in Table 1.

TABLE 1: RENISON TIN PROJECT MINERAL RESOURCE ESTIMATE

AT 31 MARCH 20196

				Tin						Copper
	Mineral Resource	'000		Grade		Tin		'000	Grade		Copper
Deposit	Category1	tonnes2		% Sn		tonnes2		tonnes	% Cu		tonnes2
Renison Bell3	Measured	1,550	1.62	25,100	1,550		0.35	5,500
	Indicated	13,520	1.51	203,700	13,520		0.19	25,000
	Inferred	2,470		1.38		34,200		2,470		0.17		4,300
	Total	17,550		1.50		263,000		17,550		0.20		34,800
Mt Bischoff4	Measured	-		-		-		-	-		-
	Indicated	970	0.59	5,700		-	-		-
	Inferred	700		0.47		3,300		-		-		-
	Total	1,670	0.54	9,000		-	-		-

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				Tin						Copper
	Mineral Resource	'000		Grade		Tin		'000	Grade		Copper
Deposit	Category1	tonnes2		% Sn		tonnes2		tonnes	% Cu		tonnes2
Rentails Project5,6	Measured	23,890	0.44	104,400	23,900		0.22	52,700
	Indicated	-		-		-		-	-		-
	Inferred	-		-		-		-		-		-
	Total	23,890		0.44		104,400		23,900		0.22		52,700
TOTAL	Measured	25,440	0.51	129,500	25,450		0.23	58,200
	Indicated	14,490	1.45	209,400	13,520		0.19	25,000
	Inferred	3,170		1.18		37,500		2,470		0.17		4,300
	Total	43,100	0.87	376,400	41,450		0.21	87,500

1. Mineral resources are reported inclusive of mineral resources modified to produce the ore reserve.
2. Tonnes are reported as kilo tonnes ('000t) and rounded to nearest 10,000; Sn and Cu tonnes are rounded to the nearest 100 tonnes; rounding may result in some slight apparent discrepancies in totals.
3. Cut-offgrade of 0.7% Sn.
4. Cut-offGrade of 0.5% Sn.
5. Cut-offGrade of 0.0% Sn.
6. The Rentails mineral resource is at 31 May 2018.

KEY ASSUMPTIONS AND JORC CODE REQUIREMENTS

Mineral resources are reported inclusive of ore reserves. Mining production data up to 31 March 2019 and all exploration information has been included. Mineral resources have been depleted for mining to 31 March 2019.

The mineral resources have been classified in accordance with the guidelines set out in the JORC Code.

The full mineral resource estimate for the Renison Tin Project is tabulated in Table 1.

Material information for the individual deposits, including a summary of material information, the Assessment and Reporting Criteria in accordance with JORC Code requirements, is included in Appendix A to this announcement.

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Summary of material information

A summary of material information contained in Appendix A is provided below:

Geology and geological interpretation: Renison is one of the world's largest operating underground tin mines and Australia's largest primary tin producer. Renison is the largest of three major Skarn, carbonate replacement, pyrrhotite-cassiterite deposits within western Tasmania. The Renison Mine area is situated in the Dundas Trough, a province underlain by a thick sequence of Neoproterozoic- Cambrian siliciclastic and volcaniclastic rocks. At Renison, there are three shallow-dipping dolomite horizons which host replacement mineralisation. The major structure associated with tin mineralisation at Renison, the Federal Basset Fault, was formed during the forceful emplacement of the Pine Hill Granite during the Devonian and is also an important source of tin mineralisation.

Drilling techniques, sampling and sub-sampling techniques: The bulk of the data used in resource calculations at Renison has been gathered from diamond core using NQ2, LTK60 and LTK48 sizes. This core is geologically logged and subsequently halved for sampling. Drill hole samples may be whole-cored to streamline the core handling process if required. Each development face/round is horizontally chip sampled with the sampling intervals being domained by geological constraints. Sludge drilling is performed with an underground production drill rig (64mm diameter hole). It is an open hole drilling method using water as the flushing medium.

Criteria for classification: Resources are classified in line with JORC guidelines utilising a combination of various estimation derived parameters, the input data and geological/mining knowledge. This approach considers all relevant factors and reflects the Competent Person's view of the deposit. At Renison, material classified as Measured must have development (with face samples) within 20m. Indicated Mineral Resource must have sufficient grade and geological continuity with drill hole intersections generally between 40m and 20m apart. Inferred Mineral Resource is material that is defined by drill holes greater than 40m apart. Geological continuity may be present but the grade estimate is lower in confidence.

Sample analysis method: Samples are dried at 90°C, then crushed to <3mm, samples are then riffle split to obtain a sub sample of approximately 100g which is then pulverized to 90% passing 75um. 2g of the pulp sample is then weighed with 12g of reagents including a binding agent, the weighed sample is then pulverized again for one minute. The sample is then compressed into a pressed powder tablet for introduction to the XRF. Sn, As and Cu have a detection limit 0.01%, Fe and S detection limits are 0.1%. Each XRF batch of twenty consists of one blank, one internal standard, one duplicate and a replicate. Anomalous assay results are re-assayed to ensure quality control.

Estimation methodology: All modelling and estimation work undertaken by Bluestone Mines Tasmania Joint Venture Pty Limited (''BMTJV'') is carried out via Leapfrog and Surpac Vision software by creating three dimensional ore body wireframes using sectional techniques. Drill hole intersections within the three dimensional wireframes are composited and statistical analysis is conducted to determine appropriate search parameters within individual domains. An empty block

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model is created and grade estimation is undertaken using ordinary Kriging estimation methods. The resource is then depleted using mining voids and subsequently classified in line with JORC guidelines as above.

Cut-off grades: The resource reporting cut-off grade is 0.7% Sn at Renison.

Mining and metallurgical methods and parameters: The Renison mine predominantly applies up- hole benching and open stoping mining methods with (in some cases), post fill and cemented rock fill to fill voids. The weighted average mining dilution is 14% at zero grade. Minimum widths for underground development are 4.5m and stoping minimum widths are 2.2m. Mining recoveries are generally between 75 and 100% with the weighted average recovery for the reserve model being 89%. No inferred resources are included within either the reserve or the mining plan.

The Renison mine produces a tin concentrate of grade varying between 50-60% Sn with internal process designed to reduce penalty metals such as iron, sulphur, tungsten and copper. The metallurgical process is complex and applies several stages of gravity-type concentration as well as sulphide and oxide flotation, regrinding and acid leach methods. The metallurgical recovery is estimated based on regression analysis of grade recovery curves from the actual processing of ores in the plant. Metallurgical recoveries on the various ore and grades were considered as part of the cut-off grade analysis.

COMPARISON OF MINERAL RESOURCES

Tables 2 compares the 2018 mineral resource estimate with the updated mineral resource estimate as at 31 March 2019 for the Renison Bell. YTPAH has a 50% share of the mineral resource estimate shown in Table 2. It was reported that the difference between the mineral resource estimate for Renison Bell at

31 March 2019 and 31 March 2018 include the following modifications:

1. All drilling data, development face and sludge data obtained between 31 March 2018 and 31 March 2019 has been included in the model; and
2. Updates to all wireframe models based on this data.

The mineral resource estimate for Mt Bischoff is unchanged from 2017 and the Rentails mineral resource estimate is unchanged from 2018.

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