Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 262

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 262
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US$287*) and CNY449 (US$70*) were charged to share
capital and administrative expenses respectively.

| F-77 |

| 26. |     | SHARE-BASED         
 PAYMENT (CONTINUED) |

Share options

On
July 14, 2022, the Board of Directors of the Company approved to grant option awards for an aggregate of 8,100,000 common shares, without
par value, of the Company (the “share options”) to certain individuals under the China Natural Resources, Inc. 2014 Equity
Compensation Plan for certain strategic consultant services. The share options vested immediately upon grant and are exercisable up to
three years from July 19, 2022. The exercise price for the options is $0.623 per share.

The
fair value of the share options is estimated at the grant date using a binomial option pricing model, taking into account the terms and
conditions on which the share options were granted. The Group accounts for share options 2022 as an equity-settled share-based payment
and recognize administrative expenses associated with the consultant service reward with a corresponding increase in equity.

Share-based payment

On
June 26, 2023, the Board of Directors of the Company approved to grant share-based payment of 180,000 common shares for consultant’s
service between June 26 to December 25, 2023. As
the Group cannot measure reliably the fair value of the service received, it is based on the fair value of the common shares granted
measured over the period the services is received. The Group recognized administrative expenses associated with the consultant service
reward with a corresponding increase in equity using the average fair value of the common shares over the service period. The 180.000
common shares were vested and issued in 2023.

| (a) |     | Expense arising from share-based payment transactions |

The
expense recognized during the year for above share-based payments is shown in the following table:

| Schedule of expense arising from share-based payments |     | Year Ended December 31, 
 2021                    |     |     | 2022 |        |     | 2023 |       |     | 2023 |     |
|:------------------------------------------------------|:----|:------------------------|----:|:----|:-----|-------:|:----|:-----|------:|:----|:-----|----:|
|                                                       |     | CNY