Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 120

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 120
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 The Cooperation Agreement
is intended to provide for financial support by Jijincheng Mining for the exploration and operating expenses of the northern part of
Moruogu Tong Mine during the exploration stage such that Bayannaoer Mining is not required to make any further capital contribution for
exploration activities, and for the allocation of rights and responsibilities between Bayannaoer Mining and Jijincheng Mining. According
to the Cooperation Agreement, Jijincheng Mining is also responsible for engaging the exploration team and directing their activities.
Pursuant to the Cooperation Agreement: (i) Bayannaoer Mining contributed the existing exploration results for the northern part of Moruogu
Tong Mine; (ii) Jijincheng Mining provides the necessary funds for further exploration at the mine; (iii) Bayannaoer Mining enjoys full
rights to any resources already discovered and confirmed by its independent exploration works conducted prior to commencement of the
cooperative exploration project; (iv) Bayannaoer Mining and Jijincheng Mining will each receive a 50% interest in any newly discovered
resources from the first 10 drilling holes in the cooperative exploration project; and (v) Bayannaoer Mining and Jijincheng Mining will
receive 30% and 70% interests, respectively, in any newly discovered resources from drilling works beyond the first 10 drilling holes
in the cooperative exploration project. Other details of the Cooperation Agreement, including allocations and distributions upon completion
of exploration works, remain the subject of continuing discussion between the parties. To date, the total exploration expenses paid by
Jijincheng Mining amount to approximately CNY6.72 million (US$0.92 million).

The foregoing description
of the Cooperation Agreement is only a summary and is qualified in its entirety by reference to the Cooperation Agreement, a copy of which
has been translated into English and incorporated by reference as Exhibit 4.5 to the 2022 Form 20-F for the fiscal year ended December
31, 2022 filed with the SEC on May 15, 2023.

Geography

The following map shows the geography of Bayannaoer
Mining’s exploration site and its surrounding areas:

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The Moruogu Tong Mine of
Bayannaoer Mining is located in Wulatehouqi, Bayannaoer City, in the Inner Mongolia Autonomous Region of the PRC. The mine is approximately
45 kilometers to Chaogewenduer Town and 40