The board of directors of China Billion Resources Limited announced that Mr. Zhang Yiwen ("Mr. Zhang") has tendered his resignation from the position of chief executive officer of the Company ("CEO") due to the need of spending more time on his personal career development and further studies in the university with effect from the conclusion of the Board meeting held on 12 June 2020. Mr. Qiao Bingya ("Mr. Qiao"), the chairman of the Board ("Chairman"), has been temporarily appointed as CEO in place of Mr. Zhang until the Company appoints a suitable candidate for the position with effect from the conclusion of the Board meeting held on 12 June 2020.