Xinjiang Xinxin Mining Industry : ANNOUNCEMENT - CHANGE OF SUPERVISORS

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Xinjiang Xinxin Mining Industry Co., Ltd.*

新 疆 新 鑫 礦 業 股 份 有 限 公 司

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 3833)

ANNOUNCEMENT

CHANGE OF SUPERVISORS

Reference is made to the announcement of Xinjiang Xinxin Mining Industry Co., Ltd.* (the "Company") dated 26 March 2020 in respect of the resignations of Mr. Meng Guangzhi and Mr. Li Jiangping as the employees' representative supervisors of the Company on 26 March 2020 (the "Resignations").

The board of directors (the "Board") of the Company hereby announces that Mr. Shi Keli ( 史 克 力) ("Mr. Shi") and Mr. Shan Zhengzhong ( 單 正 忠 ) ("Mr. Shan") have been elected as the employees' representative supervisors of the sixth session of the Supervisory Committee of the Company and to take up the roles of Mr. Meng Guangzhi and Mr. Li Jiangping following the Resignations which take effect on 30 March 2021 in a democratic election by the employees of the Company in accordance with the articles of association of the Company and the relevant laws and regulations on 30 March 2021. The terms of office of Mr. Shi and Mr. Shan commence on 30 March 2021 and will end on 13 October 2023.

The biological details of Mr. Shi and Mr. Shan are as follows:

Mr. Shi Keli ( 史 克 力), aged 52, has served as the factory head and the secretary of the communist party branch of the concentrator at Xinjiang Kalatongke Mining Industry Company Limited, a subsidiary of the Company since June 2019. Mr. Shi has over 32 years of experience in technology and corporate management in the non-ferrous metal industry. From September 2005 to November 2011, he served as the deputy director and the director of the power workshop of Kalatongke Copper-Nickel Mine. From December 2011 to December 2015, he served as the head of the motive power workshop of Kalatongke Copper-Nickel Mine. From January 2016 to July 2017, he served as the

- 1 -

department head of the mechanics division of Kalatongke Mining. From August 2017 to May 2019, he joined the Company as the factory head of the concentrator of Kalatongke Mining. Mr. Shi studied at the Sichuan University of Science and Engineering from September 2007 to July 2010 and majored in electricity and automation.

Mr. Shan Zhengzhong ( 單 正 忠 ), aged 53, has served as the deputy chief engineer and manager of the production technology department at Xinjiang Yakesi Resources Co., Ltd. ("Xinjiang Yakesi"), a subsidiary of the Company, since August 2019. Mr. Shan has over 33 years of experience in technology and corporate management in the non-ferrous metal industry. From May 1988 to August 1994, he served as the furnace manager and team leader at the Kalatongke Copper-Nickel Smelting Workshop. From August 1997 to February 1998, he served as a technician at the Kalatongke Copper-Nickel Refinery. From March 1998 to October 1998, he served as the factory head at the Kalatongke Copper-Nickel Mine Water Glass Factory. From May 1998 to June 2003, he served as the factory head at the Kalatongke Copper-Nickel Mine Active Materials Factory. From June 2003 to September 2006, he served as the deputy factory head at the Kalatongke Copper-Nickel Mine Blister Copper Smelting Workshop. From September 2006 to February 2007, he served as the deputy department head at the Kalatongke Copper-Nickel Smelting Workshop Process Team. From March 2007 to July 2012, he served as a deputy director and chairman of the Labor Union at the smelting workshop of Zhongxin Mining, a subsidiary of the Company. From August 2012 to November 2014, he served as the director and secretary of the communist party branch at the smelting workshop of Zhongxin Mining. From November 2014 to February 2016, he served as the director of the Production Technology Department of Zhongxin Mining. From March 2016 to August 2019, he served as the manager of the Xinjiang Yakesi Production Technology Department. Mr. Shan studied at the Kunming University of Science and Engineering from September 2006 to June 2009 and majored in metalworking.

As at the date hereof, save as disclosed above, Mr. Shi and Mr. Shan (i) do not hold any other positions in the Company or any of its subsidiaries; (ii) have not held any directorships in other public companies, the securities of which are listed on any securities market in Hong Kong and/or overseas in the last three years; (iii) do not have any relationship with other directors, senior management or substantial or controlling shareholders of the Company; (iv) do not have any other interest in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong); and (v) have not been subject to any public sanctions by statutory or regulatory authority.

Both Mr. Shi and Mr. Shan are not entitled to any supervisor's remuneration from the Company under their service contract. The Company reimburses the expenses incurred by Mr. Shi and Mr. Shan due to the performance of duty of a supervisor. The remuneration payable to Mr. Shi and Mr. Shan by the Company in respect of their other working positions are paid in accordance with the remuneration scale and payment procedures and with reference to the prevailing market rate and the expansion of the scale of the Company.

- 2 -

As at the date of this announcement, there is no other information in relation to the appointments of Mr. Shi and Mr. Shan as the employees' representative supervisors of the Company that need to be disclosed pursuant to any requirements of Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and there is no other matter that needs to be brought to the attention of the shareholders of the Company.

By Order of the Board

Xinjiang Xinxin Mining Industry Co., Ltd.*

Li Zhen Zhen, Lam Cheuk Fai

Joint Company Secretaries

Xinjiang, the PRC, 30 March 2021

As at the date of this announcement, the executive Director is Mr. Qi Xinhui; the non-executive Directors are Mr. Zhang Guohua, Mr. Zhou Chuanyou, Mr. Guo Quan and Mr. Hu Chengye; and the independent non-executive Directors are Mr. Hu Benyuan, Mr. Wang Qingming and Mr. Lee Tao Wai.

• For identification purpose only

- 3 -