preliminary negotiations on a possible acquisition and a possible disposal of certain
mining resources which may constitute notifiable transactions.
These preliminary discussions are still in progress, and may or may not lead to the
execution of binding agreements.
North Asia Resources further announced that the Board has resolved to accept the offer
from the subscriber as set out in the letter regarding the convertible bonds. Further
announcement(s) may be made in relation to any material development as and when
appropriate. (HL)