North Mining Shares : FURTHER DELAY IN DESPATCH OF CIRCULAR

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NORTH MINING SHARES COMPANY LIMITED

北方礦業股份有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 433)

FURTHER DELAY IN DESPATCH OF CIRCULAR

References are made to the announcements (the "Announcements") of North Mining Shares Company Limited (the "Company") dated 22 December 2020, 31 December 2020, 12 January 2021, 9 February 2021 and 9 March 2021 in relation to, among other things, the Subscriptions by Huatuan and SFund International of the Convertible Notes, the Promissory Notes and the Penalty Notes and the proposed Authorised Share Capital Increase. Unless otherwise specified, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcements.

As disclosed in the Company's announcement dated 9 March 2021, a circular (the "Circular") containing, among others, (i) proposed issue of the Convertible Notes under Specific Mandate, the Promissory Notes and the Penalty Notes; and (ii) proposed Authorised Share Capital Increase, together with the notice convening the SGM and the proxy form for the SGM was expected to be despatched to the Shareholders on or before 9 April 2021.

As additional time is required to finalise certain information to be included in the Circular, the date of dispatch of the Circular is expected to be postponed to a date on or before 9 May 2021.

By order of the Board

North Mining Shares Company Limited

Yang Ying Min

Chairman

Hong Kong, 9 April 2021

As at the date of this announcement, the Board of the Company comprises Mr. Yang Ying Min, Mr. Qian Yi Dong, Mr. Zhang Jia Kun and Mr. Zhao Jian as Executive Directors; and Mr. Wong Wai Chun Alex, Ms. Guo Xiao Ying and Dato Dr. Cheng Chak Ho as Independent Non-executive Directors.