Yanhu Salt Lake Co., Ltd.: intends to subscribe for the common stock issued by Gaozhi Resources with an amount of 300 million US dollars.

Yanhu Holdings announced that the company has signed a "Project Cooperation Letter of Intent" with Highfield Resources Limited, Highfield Resources, and EMR Capital. The company intends to subscribe to Highfield Resources' common stock issuance for approximately 300 million US dollars in cash, becoming the largest shareholder of Highfield Resources and exercising control over Highfield Resources at the time of delivery. The company will achieve actual control over Yancoal Canada Resources Ltd., Highfield Resources, and its subsidiary Southey Potash Project and Muga Project through a series of governance arrangements.