China Natural Resources, Inc. Completed Spin-off And Listing Of Coal-mining And Related Businesses

 China Natural Resources, Inc. Completed Spin-off And Listing Of Coal-mining
                            And Related Businesses

PR Newswire

HONG KONG, Jan. 23, 2014

HONG KONG, Jan. 23, 2014 /PRNewswire/ --CHINA NATURAL RESOURCES, INC.
(NASDAQ: CHNR) (the "Company"), a natural resources company based in the
People's Republic of China, announced today that it has completed its
previously announced spin-off (the "Spin-Off") and listing by way of
introduction on The Stock Exchange of Hong Kong Limited ("Hong Kong Stock
Exchange") of its wholly-owned subsidiary, Feishang Anthracite Resources
Limited ("Feishang Anthracite"), which operated the Company's coal mining and
related businesses prior to the Spin-Off. After the Spin-Off, the Company
intends to continue operating its non-ferrous metals mining and related
businesses.

Based on the unaudited interim financial information of the Company and the
audited interim financial information of Feishang Anthracite as of and for the
six months ended June 30, 2013: (i) the total assets and total liabilities of
the Company as of June 30, 2013 were CNY2,894.97 million (US$471.69 million)
and CNY2,572.49 million (US$419.14 million), respectively, with the total
assets and total liabilities (excluding inter-companies balances with the
Company) of Feishang Anthracite as of the same date representing approximately
93.2% and 88.1% of the total assets and total liabilities of the Company; and
(ii) the revenue of the Company in the six months ended June 30, 2013 was
CNY70.56 million (US$11.50 million), with the revenue of Feishang Anthracite
in the same period representing approximately 77.6% of the revenue of the
Company.

Based on the audited financial information of the Company and Feishang
Anthracite as of and for the year ended December 31, 2012: (i) the total
assets and total liabilities of the Company as of December 31, 2012 were
CNY2,854.26 million (US$458.10 million) and CNY2,307.39 million (US$370.33
million), respectively, with the total assets and total liabilities (excluding
inter-companies balances with the Company) of Feishang Anthracite as of the
same date representing approximately 96.8% and 68.8% of the total assets and
total liabilities of the Company; and (ii) the revenue of the Company in 2012
was CNY156.67 million (US$25.15 million), with the revenue of Feishang
Anthracite in the same period representing approximately 90.6% of the revenue
of the Company.

The translation of relevant amounts in this press release from CNY into US$ is
included solely for the convenience of the reader and has been calculated at
the rate of exchange quoted by Bloomberg Finance L.P. on June 30, 2013 of
US$1.00 = CNY6.1375 and December 31, 2012 of US$1.00 = CNY6.2306,
respectively. No representation is made that the CNY amounts could have been,
or could be, converted into US$ at that rate on June 30, 2013, December 31,
2012 or at any other date.

Forward-Looking Statements:

Certain statements contained in this announcement may be viewed as
"forward-looking statements" within the meaning of Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors, which may
cause the actual performance, financial condition or results of operations of
the Company to be materially different from any future performance, financial
condition or results of operations implied by such forward-looking statements.
Further information regarding these risks, uncertainties and other factors is
included in the Company's most recent Annual Report on Form 20-F filed with
the U.S. Securities and Exchange Commission (the "SEC") and in the Company's
other filings with the SEC.

THIS PRESS RELEASE IS NOT AN OFFER TO SELL NOR IS IT A SOLICITATION OF AN
OFFER TO BUY ANY SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

SOURCE China Natural Resources, Inc.

Contact: Sin Ling MA, Chief Financial Officer, 011-852-2810-7205 or
maxine@chnr.net
 
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