Western Region Gold subsidiary announces two connected transactions

Western Region Gold Co., Ltd. announced that its wholly-owned subsidiary, Xinjiang Meisheng Mining Co., Ltd., will sell approximately 8,000 tons of gold concentrate to Xinjiang Wuxin Copper Industry Co., Ltd. for an estimated total of RMB 40,176 million. This transaction aims to enhance profitability and accelerate cash recovery amid favorable gold market prices. The pricing is fair, and payment will be made in advance, mitigating financial risk for Western Region Gold.

Additionally, Xinjiang Meisheng plans to repay RMB 6,561.57 million in interest on a loan from its controlling shareholder, Xinjiang Nonferrous Metals Industry (Group) Co., Ltd. The principal amount of RMB 52,479.32 million was previously repaid. This interest repayment adheres to pre-existing loan agreements, ensuring the transaction's fairness.

Both transactions are considered connected due to the common control by Xinjiang Nonferrous Metals. These transactions are subject to approval by the company's shareholders’ meeting, with Xinjiang Nonferrous Metals abstaining from the vote. The board believes these transactions will not adversely affect Western Region Gold's financial health, operations, or independence.