Zhaojin Mining Industry Company Limited at its EGM held on February 26, 2016, approved appointment of Mr. Li Shousheng as a non-executive director, appointment of Mr. Gao Min as a non-executive Director, appointment of Mr. Wei Junhao as an independent non-executive Director, and appointment of Mr. Shen Shifu as an independent non-executive Director. Mr. Li Shousheng is an engineering technology application researcher, safety production experts of Yantai City, and a member of Shandong safety production management association. He is the current director, general manager and deputy secretary of party committee of Zhaojin Group.

Mr. Li had held positions of director of operation department of Luoshan Gold Mine, deputy manager of Dayingezhuang Gold Mine, product manager, chief engineer and vice-general manager of Zhaojin Group. Mr. Gao Min is the vice president of Shanghai Yuyuan Tourist Mart Co. Ltd. and the director, external management consultancy, experts and guest lecturers of the Shanghai Steel Group Corporation (Group) Co.

Ltd. Mr. Wei Junhao is a professor (postdoctor) and doctoral supervisor. Mr. Wei is an independent non-executive director of the company, and also a professor of China University of Geosciences (Wuhan) Resources Institute. Mr. Wei is also a supervision engineer of Central Geological Exploration Fund, standing director of Chinese Association of Mineral Resources Appraisers, member of China Geological Society Overseas Resources Committee and member of China Geological Society Mine Geology Committee.

Mr. Shen Shifu is a professor of engineering, doctor and master tutor. Mr. Shen is a chief engineer, research group leader, marketing department manager and business department manager of Beijing General Research Institute of Mining and Metallurgy. Due to re-allocation of work, the executive Director of the fourth session of the board, Mr. Lu Dongshang has retired, upon the conclusion of the EGM, from office of the executive director of the company and the chairman of the strategic committee.

Due to re-allocation of work, the non-executive director of the fourth session of the board, Mr. Wu Yijian has retired, upon the conclusion of the EGM, from office of the non-executive Director of the company. The independent non-executive director of the fourth session of the board, Mr. Xie Jiyuan, has retired, for the reason that he has reached retirement age, from office of the independent non-executive director of the company, a member of the geological and resources management committee and safety and environment protection committee of the company, upon the conclusion of the EGM. For health reason, the independent non-executive director of the fourth session of the Board, Mr. Nie Fengjun has retired, upon the conclusion of the EGM, from office of the Independent non-executive director of the company, a member and the chairman of the geological and resources management committee and a member of nomination and remuneration committee of the company.