CHINA HANKING (03788): The Golden Pig gold mine has received approval for the dewatering project.

CHINA HANKING (03788) announced that the Western Australian government's Department of Water and Environmental Regulation, after full consultation with relevant authorities and local communities, has granted approval for the underground drainage and discharge of Golden Pig gold mine into a tributary of Lake Koorkoordine, in accordance with Section 102(1)(c) of the Western Australian Environmental Protection Act of 1986. The underground water from Golden Pig gold mine will be discharged into the nearby lake as required by the approval. This approval allows for the low-cost discharge of underground mine water before underground mining operations commence at Golden Pig. The Cygnet gold mine project is located approximately 360 kilometers east of Perth, Western Australia. It includes the high-grade underground Golden Pig and Copperhead gold mines, as well as the Corinthia open-pit gold mine, with a total JORC-compliant resource of 2.06 million ounces of gold at an average grade of 2.55 grams/tonne. This project is 100% owned by the company-controlled subsidiary Hanking Gold Limited. The company plans to produce over 90,000 ounces of gold annually from the two high-grade underground mines and the open-pit mine located at Corinthia. The mining plans for the two underground mines are currently being evaluated by the authorities, while the mining plan for the open-pit mine, along with the processing plant and tailings dam plans, will be submitted for approval shortly. Regarding the project approval, Dr. Yu Min Qiu, Executive Director and Vice President of the company, and Managing Director and CEO of Hanking Gold, stated: "Obtaining this important approval is a result of the collaboration of our team with all stakeholders, including government authorities and local communities. This approval allows for the low-cost discharge of underground water. More importantly, it provides us with an opportunity for advance planning to expedite the development of this high-grade underground gold mine and create value for all stakeholders."