Hengxing Gold Holding Company Limited reports unaudited operational results of Gold Mountain Mine for the first quarter of 2018. Based on the unaudited operational data of the Group and information currently available to the Company, Gold Mountain Mine crushed and processed 1,106,398 tonnes of ore during the first quarter of 2018, up 18% year-on-year and Gold Mountain Mine produced 20,242 ounces (equivalent to approximately 650.8 kg) of gold, approximately 17% higher than that for the fourth quarter of 2017. The Company increased stripping volumes in the Jingxi-Balake and the Kuangou prospect to prepare for their future mining activities. In line with the increased stripping volumes, the stripping cost for the first quarter of 2018 is substantially higher than that for the corresponding period in 2017, resulting in an all-in gold production cost for the first quarter of 2018 (cash operating costs plus amortization and depreciation) of RMB 158.8/gram (equivalent to USD 782.9/oz based on the exchange rate of RMB 6.3071/USD as at 31 March 2018).