Xinjiang Xinxin Mining Industry : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE PROPOSED APPOINTMENT OF EXECUTIVE DIRECTOR AND CHANGE OF SUPERVISORS

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.

Xinjiang Xinxin Mining Industry Co., Ltd.*

新 疆 新 鑫 礦 業 股 份 有 限 公 司

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 3833)

SUPPLEMENTAL ANNOUNCEMENT

IN RELATION TO

THE PROPOSED APPOINTMENT OF EXECUTIVE DIRECTOR AND CHANGE OF SUPERVISORS

Reference is made to the announcements of Xinjiang Xinxin Mining Industry Co., Ltd.* (the "Company") dated 26 March 2021 and 30 March 2021 in relation to the proposed appointment of executive director of the Company and change of supervisors of the Company (together, the "Announcements"). Unless otherwise defined, capitalised terms used herein shall have the meanings ascribed to them in the Announcements.

The Company would like to provide the shareholders and potential investors of the Company with additional information on the remunerations of Mr. Yu as an executive director of the Company (if elected at the forthcoming AGM), and Mr. Shi and Mr. Shan as employees' representative supervisors of the Company.

If elected at the forthcoming AGM, Mr. Yu will not receive additional director's fee for his role as an executive Director. Mr. Yu will receive his remuneration (including salaries, bonuses and other benefits) for all his offices and services within the Group. Mr. Yu's remuneration shall consist of three components, being the basic salary of RMB20,000 per month as the secretary of the Party Committee and the deputy general manager of the Company, pension of approximately RMB2,754 per month and the discretionary bonuses depending on his individual contributions and the business performance of the Group.

- 1 -

Both Mr. Shi and Mr. Shan will not receive additional supervisors' fee for their roles as the employees' representative supervisors of the Company. Mr. Shi and Mr. Shan will receive their remunerations (including salaries, bonuses and other benefits) for their offices and services within the Group as follows:

1. Mr. Shi's remuneration shall consist of three components, being the basic salary of RMB12,510 per month as the factory head and the secretary of the communist party branch of the concentrator at Xinjiang Kalatongke Mining Industry Company Limited, a subsidiary of the Company, pension of approximately RMB2,754 per month and the discretionary bonuses depending on his individual contributions and the business performance of the subsidiary he serves; and
2. Mr. Shan's remuneration shall consist of three components, being the basic salary of approximately RMB12,883 per month as the deputy chief engineer and manager of the production technology department at Xinjiang Yakesi Resources Co., Ltd., a subsidiary of the Company, pension of approximately RMB2,754 per month and the discretionary bonuses depending on his individual contributions and the business performance of the subsidiary he serves.

In determining the remuneration packages of Mr. Yu, Mr. Shi and Mr. Shan, the Company will consider (i) the business needs of the Company and/or its subsidiaries;

1. the general economic situation; (iii) changes in human resources market and the remuneration scale for similar positions; (iv) their individual contributions to the Company's financial, business, operation results based on their performance appraisal process; and (v) any retention consideration and the business potential of Mr. Yu, Mr. Shi and Mr. Shan.

By Order of the Board

Xinjiang Xinxin Mining Industry Co., Ltd.*

Li Zhen Zhen, Lam Cheuk Fai

Joint Company Secretaries

Xinjiang, the PRC, 8 April 2021

As at the date of this announcement, the executive Director is Mr. Qi Xinhui; the non-executive Directors are Mr. Zhang Guohua, Mr. Zhou Chuanyou, Mr. Guo Quan and Mr. Hu Chengye; and the independent non-executive Directors are Mr. Hu Benyuan, Mr. Wang Qingming and Mr. Lee Tao Wai.

• For identification purpose only

- 2 -