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(Incorporated in the Cayman Islands with limited liability)

(Stock code: 01164) VOLUNTARY ANNOUNCEMENT DISPOSAL OF PROPERTY DISPOSAL OF PROPERTY

This announcement is made by the Company on a voluntary basis.
The Board is pleased to announce that on 28 December 2012, the Vendor, an indirect wholly- owned subsidiary of the Company, has completed the Disposal at a total consideration of HK$31,338,000.

INTRODUCTION

This announcement is made by the Company on a voluntary basis.
The Board is pleased to announce that on 28 December 2012, the Vendor, an indirect wholly-owned subsidiary of the Company, has completed the Disposal at a total consideration of HK$31,338,000.

THE DISPOSAL

Major terms of the Disposal are set out below:

Date of Formal Agreement:

30 November 2012

Parties:

Vendor: Wide Triumph Limited (iJLjrfll0i'i*), an indirect wholly-owned subsidiary of the Company.
Purchaser: You Four Limited, a company incorporated in Hong Kong with limited liability.
To the best of the Directors' knowledge, information and belief having made all reasonable enquiry, the Purchaser and its ultimate beneficial owner are third parties independent of the Company and its connected persons.
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Property:

Pursuant to the Formal Agreement, the Vendor agreed to dispose of, and the Purchaser agreed to acquire, the property at office No.7 on the 31st Floor of Tower One Lippo Centre, No. 89
Queensway, Hong Kong free from encumbrances. The Property is a commercial property.

Consideration:

The consideration for the Disposal is HK$31,338,000, which was agreed after arm's length negotiations between the Purchaser and the Vendor on normal commercial terms with reference to the market value of similar properties in the same or similar locations.
The Directors are of the view that the Preliminary Agreement and the Formal Agreement were entered into on normal commercial terms, and the transaction contemplated thereunder is fair and reasonable, in the best interests of the Company and the Shareholders as a whole.

DEFINITIONS

Unless otherwise stated, the following words and phrases have the following meanings in this announcement:
"Board" the board of Directors of the Company
"Company" CGN Mining Company Limited r:jj