CGN Mining : POSITIVE PROFIT ALERT

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)

POSITIVE PROFIT ALERT

This announcement is made by the Company pursuant to Rule 13.09(2) of the Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance.

The Board wishes to inform the Shareholders and potential investors that the net profit of the Group for the year ended 31 December 2019 is expected to record an increase of 40% to 60% as compared to the net profit of the Group for the year ended 31 December 2018 as disclosed in its 2018 annual report and an increase of 15% to 35% as compared to the restated net profit of the Group for the year ended 31 December 2018.

Shareholders and potential investors should exercise caution when dealing in the shares of the Company.

This announcement is made by CGN Mining Company Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) (the "SFO").

Based on the preliminary assessment by the management of the Company on the unaudited consolidated management accounts of the Group for the year ended 31 December 2019 (the "Management Accounts"), the board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that the net profit of the Group for the year ended 31 December 2019 is expected to record an increase of 40% to 60% as compared to the net profit of the Group for the year ended 31 December 2018 as disclosed in its 2018 annual report and an increase of 15% to 35% as compared to the restated net profit of the Group for the year ended 31 December 2018. The consolidated financial information of the Group for the year ended 31 December 2018 has been restated to reflect the acquisition of CGN Global Uranium Ltd, details of which has been set forth in the circular of the Company dated 28 December 2018.

The expected increase in net profit were mainly attributable to (i) the increase in revenue from natural uranium trading as a result of increase in sale volume of natural uranium; (ii) the increase in the share of result of a joint venture; and (iii) the decrease in interest expenses through optimising the utilisation of financial resources of the Group.

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The Company is in the course of finalising its consolidated annual results for the year ended 31 December 2019 and the information contained in this announcement is prepared based only on the preliminary assessment by the management of the Company on the Management Accounts, which have not been reviewed or audited by the Company's auditors and may be subject to adjustments.

Details of the Group's financial results and performance will be disclosed in the annual results announcement for the year ended 31 December 2019 of the Company which is expected to be published by the end of March 2020. Shareholders and potential investors are advised to read the annual results announcement of the Company carefully.

Shareholders and potential investors should exercise caution when dealing in the shares of the Company.

By Order of the Board

CGN Mining Company Limited

An Junjing

Chief Executive Officer

Hong Kong, 16 March 2020

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 purposes only

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