Tibet Zhongjin Mining Co., Ltd., with registered capital of RMB30 million, is a subsidiary of Zhongrun Mining Development Co., Ltd., which holds 52% of its total shares.

The company now has the detailed exploitation right of Joriama copper and iron mine inTongpuTown,JomdaCounty, Qamdo prefecture,Tibet. This mining area is at 18 degrees east to the north ofJomdaCounty, with a horizontal distance of about 31.8 kilometers. The geographic coordinate is between longitude 98°17' 22" east to 98°20' 50" east, and between latitude 31°46' 00" north to 31°47' 00" north with sea level elevation range between 3,536 meters  to 4,282 meters. Mineral Prospecting Certificate: NO. T54520080502008487. Mining area: 7.3 square kilometers.

Tibet Zhongjin Mining Co., Ltd. carried out detailed geological prospecting work of Joriama copper and iron mine inJomda County,Tibet. According to the preliminary estimation, the whole deposit of delafossite(333+334?)has 13.2539 million tons of ores, 195,000 tons of copper at an  average grade of 1.47%, 18.31 million tons of iron ore at an average grade of 31.29%.

In order to promote the geological exploration of Joriama copper and iron mine and the integration work of periphery mines, Zhongrun Mining, as one of the company’s shareholders, is going to invest an additional RMB20 million to Tibet Zhongjin Mining Co., Ltd. After the capital increment which is right in process, the total registered capital of Tibet Zhongjin Mining Co., Ltd will change to RMB 50 million.