The Board of Newton Resources Ltd. announced that Mr. Yao Zanxun resigned as executive director, chief executive officer, vice-chairman and one of the authorized representatives of the company on 30 August 2012 due to his desire to devote more time to his personal endeavors. The company also reported that Mr. Jiao Ying has been appointed as executive director and one of the authorized representatives of the company with effect from 30 August 2012. Mr. Jiao, aged 50, has been appointed as the chief financial officer of the company since 13 December 2010 and oversees finance operation, investor relations, administration, procurement, sales and marketing functions of the group.

He is currently a director of Jet Bright Limited, Newton Resources Investments Limited and Lincheng Xingye Mineral Resources Co. Ltd., subsidiaries of the company. Mr. Jiao has entered into a service contract with the company for a fixed term of three years commencing from 30 August 2012, subject to retirement by rotation and re-election at annual general meetings pursuant to the articles of association of the company.