Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 90

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 90
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 permit issued by the Natural Resources Department of Inner Mongolia Autonomous Region covering the Moruogu Tong
Mine, located in Wulatehouqi, Bayannaoer City, Inner Mongolia. The exploration permit evidences Bayannaoer Mining’s right to
explore for minerals at the Moruogu Tong Mine. Initial results of the exploration program indicate the presence of lead and silver,
with the prospect that further surveying and exploration may indicate the presence of other ores such as copper. We anticipate that
our working capital and capital expenditures for our exploration activities will be funded by non-interest-bearing loans from our
affiliates and funds provided pursuant to the Cooperation Agreement. See “Business Overview – Metal Exploration
Activities” below for more information and a discussion of developments at the Moruogu Tong Mine.

The following diagram
illustrates our corporate structure as of the date of this prospectus: :

All current operations
are conducted by Bayannaoer Mining following the sale of PST Technology. See “Business Overview” for further information regarding
Bayannoer Mining.

| 52 |

Feishang Management

Feishang Management was
incorporated in the PRC in October 2008. It is a wholly owned subsidiary of Yunnan Mining and is engaged in providing management and consulting
services to the other companies in the Group. Feishang Management currently serves as a cost center for the Group.

Inactive Subsidiaries

The following subsidiaries
are not currently engaged in active operations but remain in good standing in their home jurisdictions and are poised to participate in
future opportunities, should they arise:

China Coal

China Coal was incorporated
in Hong Kong in January 2008. It is a wholly owned subsidiary of CHNR.

Feishang Dayun

Feishang Dayun was incorporated
in Hong Kong in June 2008. It is a wholly owned subsidiary of Pineboom.

Feishang Mining

Feishang Mining was incorporated in the BVI
in September 2004. It is a wholly owned subsidiary of CHNR.

Feishang Yongfu

Feishang Yongfu was incorporated
in Hong Kong in June 2008. It is a wholly owned subsidiary of Newhold.

FMH Services

FMH Services is a Florida
company incorporated in November 2007 in connection with a proposed transaction that was not consummated. FMH Services, which is
wholly owned by CHNR, is currently dormant.

Newhold

Newhold was incorporated in the B