Tongguan County Xiangshun Mining Development Co., Ltd. (潼關縣祥順礦業發展有限公司)

The Group primarily operates in Tongguan County, Shaanxi Province of the PRC and engages in the operation of exploration, mining, processing and sale of gold and related products through its indirect 90% equity interests in Tongguan County Xiangshun Mining Development Co., Ltd. (潼關縣祥順礦業發展有限公司).

Tongguan County is located at the eastern Guanzhong Plain of Shaanxi Province, at the centre of the provinces of Shaanxi, Shanxi and Henan. The county is connected with consummate transportation infrastructures including Longhai Railway, Xi'an - Tongguan G30 Expressway and G310 National Road.

The exploration and mining project of the Group forms part of the Xiaoqinling gold field, which is located in the northernmost Qinling Terrane, the second largest gold belt in China. The unique geographical location rooted the long history of gold mining in the area.

The Group also operates its own processing plant adopting the simple and conventional floatation technology. As benefited from the high-grade mined ore, the processing plant is capable of achieving good level of production in a cost-effective manner. The gold concentrate products are then sold to the local smelters for downstream smelting.

Luonan Jinhui Mining Co. Ltd. (洛南縣金輝礦業有限公司) and Shaanxi Tongxin Mining Co. Ltd.(陝西潼鑫礦業有限公司)

The Group primarily operates in Tongguan and Luonan Counties, Shaanxi Province of the PRC and engages in the exploration of gold and related minerals through its indirect equity interests in Luonan Jinhui Mining Co. Ltd. (洛南縣金輝礦業有限公司) and Shaanxi Tongxin Mining Co. Ltd. (陝西潼鑫礦業有限公司). Luonan Jinhui Mining Co. Ltd. (洛南縣金輝礦業有限公司) and Shaanxi Tongxin Mining Co. Ltd. (陝西潼鑫礦業有限公司) have a portfolio of mineral tenements comprising two exploration licences.

Tongguan County De Xing Mining LLC (潼關縣德興礦業有限責任公司)

The Group primarily operates in Tongguan County, Shaanxi Province of the PRC and engages in the exploration and mining of gold and related minerals through its indirect equity interests in Tongguan County De Xing Mining LLC (潼關縣德興礦業有限責任公司). Tongguan County De Xing Mining LLC (潼關縣德興礦業有限責任公司) has a portfolio of mineral tenements comprising one exploration licence and one mining licence.

Tongguan Tongjin Mining Company Limited (潼關縣潼金礦業有限責任公司)

The Group primarily operates in Tongguan County, Shaanxi Province of the PRC and engages in the exploration and mining of gold and related minerals through its indirect equity interests in Tongguan Tongjin Mining Company Limited (潼關縣潼金礦業有限責任公司). Tongguan Tongjin Mining Company Limited (潼關縣潼金礦業有限責任公司) has a portfolio of mineral tenements comprising three exploration licences and one mining licence.

Tianshui Xindu Mining Co., Ltd. (天水鑫都礦業有限公司), Jiuquan Chuangjin Mining Development Co., Ltd. (酒泉市創金礦業發展有限責任公司) and Subei County Holezadegai Northeast Mining Co., Ltd. (肅北縣霍勒紮德蓋北東礦業有限責任公司)

The Group primarily operates in Subei and Guazhou Counties, Gansu Province of the PRC and engages in the exploration and mining of gold and related minerals through its indirect equity interests in Tianshui Xindu Mining Co., Ltd. (天水鑫都礦業有限公司), Jiuquan Chuangjin Mining Development Co., Ltd. (酒泉市創金礦業發展有限責任公司) and Subei County Holezadegai Northeast Mining Co., Ltd. (肅北縣霍勒紮德蓋北東礦業有限責任公司). Tianshui Xindu Mining Co., Ltd. (天水鑫都礦業有限公司), Jiuquan Chuangjin Mining Development Co., Ltd. (酒泉市創金礦業發展有限責任公司) and Subei County Holezadegai Northeast Mining Co., Ltd. (肅北縣霍勒紮德蓋北東礦業有限責任公司) have a portfolio of mineral tenements comprising two mining licences and six exploration assets.

Information of the mineral resources and reserves of the gold for the gold mines of the Group under JORC Mineral Resources Category as at 31 December 2023 are as below:

	Inventory	Grade	Contained Metal	Contained Metal
	(kt)	(g/t Au)	(t)	(koz)
Mines in Tongguan County
Indicated	3,718.5	7.57	28.2	993.1
Inferred	892.7	7.40	6.6	232.9
Mines in Subei County
Indicated	1,537.0	10.40	16.0	563.8
Inferred	652.5	9.46	6.2	217.8
Total
Indicated	5,255.5	8.41	44.2	1,556.9
Inferred	1,545.2	8.28	12.8	450.7