The board of directors of Shougang Fushan Resources Group Limited is deeply saddened to learn that Mr. Shen Zongbin (Mr. Shen), an independent non-executive director of the Company and a member of each of the audit committee, nomination committee and remuneration committee of the Company, has passed away recently. Following the passing away of Mr. Shen, the number of members of the audit committee of the Company is temporarily below the minimum number as required under Rule 3.21 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Company will identify suitable candidate to fill the vacancy of a member of the audit committee of the Company in order to fulfill the aforesaid requirement under Rule 3.21 of the Listing Rules as soon as practicable and will use its best endeavor to meet the time period set forth in Rule 3.23 of the Listing Rules.

Further announcement will be made by the Company upon fulfillment of the aforesaid requirements.