Exploration Rights

The Moruogu Tong Mine, the main property of CHNR’s operating subsidiary Bayannaoer Mining, is located in Wulatehouqi, Bayannaoer City, in the Inner Mongolia Autonomous Region of the PRC. The current exploration permit for the Moruogu Tong Mine runs until September 2021 and covers a site area of 10.43 square kilometers. Initial reports of the exploration program have pointed to encouraging discoveries of prospective deposits of lead and silver. The results indicated that the main useful constituent of this deposit is lead, with associated useful constituent of silver. The current exploration work stage of the Moruogu Tong Mine has been completed, and further exploration and analysis are being planned with an aim to apply for a mining rights permit.