China Nonferrous Mining : VOLUNTARY ANNOUNCEMENT

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China Nonferrous Mining Corporation Limited

中 國 有 色 礦 業 有 限 公 司

(Incorporated in Hong Kong with limited liability under the Companies Ordinance)

(Stock Code: 1258)

VOLUNTARY ANNOUNCEMENT

Reference is made to the 2019 Interim Report (the "Interim Report") of China Nonferrous Mining Corporation Limited (the "Company") in relation to the interim results of the Company for the six months ended 30 June 2019. Unless otherwise defined, all capitalised terms used in this announcement shall have the same meanings as defined in the Interim Report.

The board (the "Board") of directors ("Directors") of the Company is pleased to update the shareholders of the Company with respect to the latest information of the Company (together with the subsidiaries of the Company, hereinafter collectively referred to as the "Group") and Lualaba Copper Smelter SAS ("Lualaba Copper Smelter", a subsidiary of the Company incorporated under the laws of the DRC).

As disclosed in the Interim Report, Lualaba copper concentrate smelting project (the "Project") is designed with an annual capacity of 400,000 tonnes of copper concentrates. A copper-cobalt alloy project with an annual capacity of 10,000 tonnes will be constructed in the same period. The planned investment for the blister copper smelting project is US$437.60 million. The construction of the Project was commenced in March 2018. As at 30 June 2019, various works progressed smoothly, and a total amount of US$195.22 million had been invested in the Project accumulatively. The cobalt recycling system is the subsystem of the blister copper smelting project, and its estimated investment is US$33.10 million. The Project has been under construction in parallel with the blister copper smelting project.

Lualaba blister copper smelting plant is scheduled to be completed and put into production by the end of the year. At 00:50 on 20 November 2019 (local time of the DRC), the production process of the blister copper smelting plant was fully completed and thoroughly put into trial production, and the first batch of qualified blister copper products was produced. The advance trial production of the Project will create a new profit growth source for the Group.

This announcement contains forward-looking statements regarding the Company's expectations and outlook of the Group's business operations, opportunities and prospects. Such forward-looking statements do not constitute guarantees of the future performance of the Group and are subject to factors which may include, but are not limited to, general industry and economic conditions, shifts in customer demands, and legal/regulatory/government policy changes. There is no assurance that the business development conditions of the Group and any other matters set out in this announcement are attainable, complete or accurate. The financial and other data relating to the Group as disclosed in this announcement has also not been audited or reviewed by its auditors. Shareholders and/or potential investors of the Company are advised to exercise caution when dealing in the securities of the Company and not to place any excessive reliance on the information disclosed herein. Any shareholder or potential investor who is in doubt is advised to seek advice from professional advisors.

By Order of the Board

China Nonferrous Mining Corporation Limited

Tongzhou WANG

Chairman

Beijing, 26 November 2019

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Tongzhou WANG, Mr. Xiaowei WANG, Mr. Lin ZHANG, Mr. Chunlai WANG and Mr. Kaishou XIE as executive Directors, Mr. Jinjun ZHANG as non-executive Director, and Mr. Chuanyao SUN, Mr. Jingwei LIU and Mr. Huanfei GUAN as independent non-executive Directors.

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