Chenguang Rare Earths to acquire heavy mineral sands projects in Tanzania

Ganzhou Chenguang Rare Earths New Material Co.Asian Metal Copyright Fungoni and Tajiri projects are already granted mining licences, while Sudi and Bagamoyo projects are still in exploration stage.Asian Metal Copyright, Ltd.Asian Metal Copyright, a wholly-owned subsidiary of Shenghe Resources, has entered into an agreement with Strandline Resources Limited STA to acquire 100% equity interest of Strandline Resources UK Limited SRUL, a 100%-owned subsidiary of STA, for a total consideration of AUD43 million, of which about AUD 27.Asian Metal Copyright, a wholly-owned subsidiary of Shenghe Resources, has entered into an agreement with Strandline Resources Limited (STA) to acquire 100% equity interest of Strandline Resources UK Limited (SRUL), a 100%-owned subsidiary of STA, for a total consideration of AUD43 million, of which about AUD 27.Asian Metal Copyright, Ltd.Asian Metal Copyright18 million is for the acquisition of 100% stake in SRUL, and the remaining AUD15.Asian Metal Copyright .Asian Metal Copyright82 million is for the financing of STA's projects in Tanzania.Asian Metal Copyright9% THMs.Asian Metal Copyright Upon completion, Chenguang Rare Earths will indirectly hold 100% interest in heavy mineral sands projects in Tanzania, including Fungoni, Tajiri, Sudi and Bagamoyo.

The heavy mineral sands projects contain mineral resources such as zirconium, titanium and rare earths. Fungoni and Tajiri projects are already granted mining licences, while Sudi and Bagamoyo projects are still in exploration stage.Asian Metal CopyrightGanzhou Chenguang Rare Earths New Material Co.Asian Metal Copyright Fungoni project is around 25 kilometers away from the Port of Dar es Salaam in Tanzania, with JORC-compliant mineral resources of 22 million tonnes (41% Measured and 59% Indicated) at 2.Asian Metal Copyright .Asian Metal Copyright8% total heavy minerals (THMs) and mineral reserves of 12.Asian Metal Copyright9% THMs.Asian Metal Copyright30 million tonnes at 3.Asian Metal Copyright82 million is for the financing of STA's projects in Tanzania.Asian Metal Copyright9% THMs.Asian Metal Copyright18 million is for the acquisition of 100% stake in SRUL, and the remaining AUD15.Asian Metal Copyright Tajiri project is located in northern Tanzania, with JORC-compliant mineral resources of 268 million tonnes at 3.Asian Metal Copyright9% THMs.Asian Metal Copyright3% THMs.

.Asian Metal Copyright Upon completion, Chenguang Rare Earths will indirectly hold 100% interest in heavy mineral sands projects in Tanzania, including Fungoni, Tajiri, Sudi and BagamoyoAsian Metal Copyright