China Natural Resources, Inc. announced that it plans to accelerate its exploration efforts and capital expenditures in 2022 at its Moruogu Tong Mine in Inner Mongolia. Exploration conducted in 2013 revealed geochemical anomalies associated with nickel and gold in the southern part of the mine area but did not indicate any concentration. The 2013 exploration was on a lead deposit in the northern part of the mine area, and no exploration work has been carried out since 2013 in the southern part of the mine area with nickel and gold anomalies.

In view of the current scarcity of nickel, the Company plans to accelerate exploration progress and increase capital expenditures in the southern part of the mine area to continue to explore the presence of nickel and other minerals. Over the near term, the Company plans to fund another six drilling holes to speed the resource capture process in the southern part of the mine area. The exploration and access holes are typically 600 meters deep, with an expected initial investment of CNY2.16 million in total for the additional six holes.