The board of directors of the CAA Resources Limited announced that it has received a copy of the renewed Mining Lease, according to which, the tenure of the Mining Lease with respect to Ibam Mine, has been extended for two years from 15 December 2018 to 15 December 2020. The Board understands that best endeavors have been made to procure the extension of the Mining Lease, and the Extended Term has been granted with the approval of the governmental authorities in Malaysia. As stated in the Prospectus, the Group is not the registered holder of the Mining Lease but has been granted the exclusive right to explore, mine, extract and sell iron ore products produced from the Ibam Mine pursuant to the Mining Agreement, according to which the Group's right to carry out mining of iron ore is effective during the term of the Mining Lease, as the tenure of the Mining Agreement shall be automatically extended according to the term of each subsequent extension of the Mining Lease. There is no further or additional conditions or obligations to be imposed on the Group for each of the extended term of the Mining Lease.