CGN Mining : Delay in despatch of circular in relation to (1) Very substantial acquisition and connected transaction in relation to the acquisition of 49% interest in Mining Company "ORTALYK" LLP; (2) Very substantial disposal and connected transaction in relation to the grant of Call Option and Buy-back Right; and (3) Continuing connected transaction in relation to the Off-take Arrangement

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 01164)

Delay in despatch of circular in relation to

1. Very substantial acquisition and connected transaction in relation to the acquisition of 49% interest in Mining Company "ORTALYK" LLP;
2. Very substantial disposal and connected transaction in relation to the grant of Call Option and Buy-back Right; and
3. Continuing connected transaction in relation to the Off-take Arrangement

Reference is made to the announcement of CGN Mining Company Limited (the "Company") dated 22 April 2021 (the "Announcement") in relation to, among other matters, the acquisition of 49% interest in Ortalyk, the grant of the Call Option and the Buy-back Right in relation to the Target Interest and the Off-take Arrangement of the products of Ortalyk. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless otherwise specified.

As announced in the Announcement, a Circular containing, among other information, further information on the Sale and Purchase Agreement and the transactions contemplated thereunder, the letter from the Independent Board Committee and the letter from Gram Capital, the Independent Financial Advisor was expected to be despatched to the Shareholders within 15 business days from the date of the Announcement.

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As additional time is required for the Company to finalise certain information in the Circular, it is expected that the Circular will instead be despatched to the Shareholders on or before 31 May 2021.

By order of the Board

CGN Mining Company Limited

An Junjing

Chief Executive Officer

Hong Kong, 14 May 2021

As at the date of this announcement, the Board comprises two executive Directors: Mr. An Junjing

(chief executive officer) and Mr. Chen Deshao; three non-executive Directors: Mr. Yu Zhiping

(chairman), Mr. Sun Xu and Mr. Yin Xiong; and three independent non-executive Directors: Mr. Qiu Xianhong, Mr. Gao Pei Ji and Mr. Lee Kwok Tung Louis.

• For identification purpose only

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