Mile Stones

September 2003 Obtained exploration rights in the Gold Mountain Mine and its surrounding areas

June 2005 Obtained exploration rights in Talede, Urum-Tulasu and Nalensayi areas

December 2006 Gold Mountain Mine had total indicated gold resources of 1.652 million oz

April 2007 Obtained exploration rights in West Yelmand, Mayituobi, Keguqin Mountain and Golden Dragon areas

March 2008 Total resources: 2.641 million oz; Measured & indicated: 2.034 million oz

2009-2010 Xiamen Hengxing purchased 90% and 10% equity interest in Jinchuan Mining from ASX-listed company International Goldfields and Xinjiang Geology

March 2012 Obtained gold mining permit issued by MIIT

April 2012 Hengxing Gold was incorporated in the Cayman Islands

June 2012 Obtained mining license issued by the Ministry of Land and Resources

July 2013 Commenced ore mining operation at the Yelmand prospect

Measured & indicated gold resources 2.279 million oz

September 2013 Production facilities completed and started commissioning

December 2013 Commenced trial production and First Gold Pour 

Total resources of 3.218 million oz, including measured & indicated resources of 2.497 million oz