Recently, LXML, a holding subsidiary of the Company, submitted an application for rare earth exploitation right in 2.96 km2 of Sepon Mining Area of LXML to the Lao Ministry of Energy and Mines. The application has undergone the boundary verification of mining rights by the Department of Geology and Mineral Resources of the Ministry of Energy and Mines.

CHIJIN Laos, a subsidiary of Chifeng Gold, applied to the Lao Ministry of Planning and Investment for rare earth exploration right in the 50km2 of area in Kham County, Xieng Khouang Province. The Lao Ministry of Planning and Investment has formally accepted the application, and the application documents have been sent to relevant departments and the Government of Xieng Khouang Province. In addition, the Lao Ministry of Energy and Mines approved two reconnaissance (investigation) area permits in Houaphan Province applied by CHIJIN Laos. One is located in MeangHiem District in the southwest of Houaphan Province, covering an area of 198km2; the other is located in Huameang District in the south of Houaphan Province, covering an area of 138km2. It is agreed that CHIJIN Laos and Lao Mining Development State Enterprise (LMD) will carry out preliminary field data collection on minerals of a total area of about 336km2 in MeangHiem District and Huameang District.

The Company will continue to promote the application for rare earth exploitation right in Sepon Mining Area of LXML, the application for rare earth exploration right in Kham County, Xieng Khouang Province, the resource investigation of two permitted reconnaissance areas in Houaphan Province and other rare earth development work in Laos, expand the layout of rare earth resources and accelerate the development and utilization of rare earth resources.