CHI SILVER GP (00815) and CSMALL (01815): It is initially expected that the prospective gold metal content in the Shannan exploration area can reach about 20 to 25 tons. Resumption of trading on January 20th.

CHI SILVER GP(00815) and CSMALL(01815) jointly announce that, as per the announcement released on August 15, 2024 by China Silver and CSMALL (August 2024 Announcement), it pertains to the acquisition of a 51% equity stake in Jiangxi Letong New Materials Co., Ltd. (Jiangxi Letong). As disclosed in the August 2024 Announcement, Jiangxi Letong holds 100% equity of Tibet Longtianyong Mining Co., Ltd. (Tibet Longtianyong), and Tibet Longtianyong holds an exploration permit authorizing it to conduct mineral resources survey in an area of 28.88 square kilometers in Shannan Exploration Area in Shannan County, Coqen Township, eastern foothills of the Himalayas. The acquisition was completed on August 21, 2024, making Jiangxi Letong and Tibet Longtianyong non-wholly owned subsidiaries of China Silver and CSMALL respectively. In the second half of 2024, Tibet Longtianyong engaged an independent third-party expert organization with relevant national geological qualifications (the geological expert) to conduct a mineral resources survey in the Shannan Exploration Area. The survey was completed in December 2024. Subsequently, the geological expert prepared a survey report on the Shannan Exploration Area, which Tibet Longtianyong submitted to the Tibet Autonomous Region Land and Resources Department's Tibet Autonomous Region Land and Mineral Rights Trading and Resource Reserves Evaluation Center (Tibet Evaluation Center) for review. Following a review meeting and exchange of views in mid-January 2025 between the geological expert and the expert group from the Tibet Evaluation Center, Tibet Longtianyong recently received the evaluation report from the Tibet Evaluation Center on the survey report. The boards of directors of China Silver and CSMALL are pleased to jointly announce the survey findings detailed in the survey report and the contents of the evaluation report. According to the evaluation report and the survey report, the survey work discovered several gold mineralization zones and further identified several gold ore bodies. The estimated inferred ore volume of these gold ore bodies is approximately 2.1 million tons, with an inferred gold metal content of approximately 5,800 kilograms and an average gold grade of approximately 2.77 grams per ton. The survey report also indicates that, based on field surveys and comprehensive studies during the survey, the geological expert believes that the Shannan Exploration Area exhibits characteristics of medium-low temperature hydrothermal type deposits controlled by fault structures. The scale of mining construction, service life, and product design will be evaluated comprehensively after further exploration work. The survey report further states that, based on the analyzed results and pending further analysis and exploration work, the prospective gold metal content in the Shannan Exploration Area is expected to reach approximately 20 to 25 tons, demonstrating the potential for a large-scale gold mine. According to the survey report, the Shannan Exploration Area is not located within national or provincial natural protection areas, basic farmland protection areas, forest protection areas, wildlife protection areas, or wetland protection areas. Based on the survey report and evaluation report, Tibet Longtianyong is advised to conduct further exploration work in the Shannan Exploration Area (including detailed investigation of the aforementioned gold ore bodies) and various research works (including but not limited to studies on mining technology conditions, ore beneficiation processes, preliminary feasibility studies, and geological integrated research). China Silver and CSMALL will each apply to the Stock Exchange for the resumption of trading their shares starting from 9 am on January 20, 2025.