Supervisory board chairman retires from Tibet Mineral Development

Tibet Mineral Development Co., Ltd. announced that Mr. Laba Jiangcun, chairman of its supervisory board, has resigned. The resignation is due to Mr. Jiangcun reaching the statutory retirement age. Consequently, he requested to resign from his positions as a supervisor and chairman of the eighth supervisory board. Following his resignation, Mr. Jiangcun will no longer hold any positions within Tibet Mineral Development or its controlled subsidiaries.

Mr. Jiangcun's resignation during his term will result in the company's supervisory board falling below the statutory minimum number of members. In accordance with relevant provisions of the "Company Law" and requirements from the China Securities Regulatory Commission, Mr. Jiangcun will continue to perform his duties until the company's articles of association are revised and the supervisory board's functions are exercised by the board of directors' audit committee.

The company confirms that Mr. Jiangcun's resignation will not disrupt the normal operations of Tibet Mineral Development or the supervisory board. The company will expedite the revision of its articles of association in compliance with relevant regulations. As of the disclosure date, Mr. Jiangcun does not hold any shares in the company and has no unfulfilled commitments. The company and the supervisory board extend their sincere gratitude to Mr. Jiangcun for his diligent service and contributions during his tenure as a supervisor.