North Mining Shares : (1) INSIDE INFORMATION - UPDATE ON DISMISSAL OF THE 2ND PETITION AND (2) FURTHER DELAY IN DESPATCH OF CIRCULAR

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NORTH MINING SHARES COMPANY LIMITED

北 方 礦 業 股 份 有 限 公 司

(Incorporated in Bermuda with limited liability)

(STOCK CODE: 433)

1. INSIDE INFORMATION - UPDATE ON DISMISSAL OF THE 2ND PETITION

AND

(2) FURTHER DELAY IN DESPATCH OF CIRCULAR

This announcement is made by North Mining Shares Company Limited (the ''Company'') pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'') and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

References are made to the announcements of the Company dated 4 February 2021, 11 February 2021, 31 March 2021 and 4 May 2021 (the ''2nd Petition Announcements'') in relation to the 2nd Petition and to the announcements of the Company dated 22 December 2020, 31 December 2020, 12 January 2021, 9 February 2021, 9 March 2021 and 9 April 2021 in relation to, among other things, the Subscriptions by Huatuan and SFund International of the Convertible Notes, the Promissory Notes and the Penalty Notes and the proposed Authorised Share Capital Increase (the ''Subscriptions Announcements'', together with the 2nd Petition Announcements, the ''Announcements'')). Unless otherwise specified, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcements.

UPDATE ON DISMISSAL OF THE 2ND PETITION

As disclosed in the Company's announcement dated 4 May 2021, the Company and the Petitioner have executed and filed a consent summons to dismiss the 2nd Petition.

The Company is pleased to announce that on 10 May 2021, the Companies Judge of the High Court has pronounced the dismissal of the 2nd Petition and the 2nd Petition has been dismissed.

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FURTHER DELAY IN DESPATCH OF CIRCULAR

As disclosed in the Company's announcement dated 9 April 2021, a circular (the ''Circular'') containing, among others, (i) proposed issue of the Convertible Notes under Specific Mandate, the Promissory Notes and the Penalty Notes; and (ii) proposed Authorised Share Capital Increase, together with the notice convening the SGM and the proxy form for the SGM was expected to be despatched to the Shareholders on or before 9 May 2021.

As additional time is required to finalise certain information to be included in the Circular, the date of dispatch of the Circular is expected to be postponed to a date on or before 9 June 2021.

By order of the Board

North Mining Shares Company Limited

Yang Ying Min

Chairman

Hong Kong, 10 May 2021

As at the date of this announcement, the Board of the Company comprises Mr. Yang Ying Min, Mr. Qian Yi Dong, Mr. Zhang Jia Kun and Mr. Zhao Jian as Executive Directors; and Mr. Wong Wai Chun Alex, Ms. Guo Xiao Ying and Dato Dr. Cheng Chak Ho as Independent Non-executive Directors.

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