August 7, 2008
China Shen Zhou Mining & Resources, Inc. Wins New $1.6 Million Supply Contract for Nonferrous Metal Concentrates
-- Copper and Zinc Concentrates Maintain Good Production in Xinjiang --
BEIJING, Aug. 7 /Xinhua-PRNewswire-FirstCall/ -- China Shen Zhou Mining & Resources, Inc. ("China Shen Zhou", or "the Company"), a leading company engaged in the exploration, development, mining and processing of fluorite, zinc, lead, copper, and other nonferrous metals in China, today announced one of its subsidiaries, Xingzhen Mining, in Xinjiang Uyghur Autonomous Region, has signed one new supply contract for copper and zinc concentrates with Weng Niu Te Qi Rui Peng Mining Company ("Rui Peng"), based in Chifeng City, Inner Mongolia. The total value of this contract is approximately $1.6 million (RMB 11 million).Pursuant to the contract, the Company will ship zinc and copper concentrates to Rui Peng from August 2008 until October 31, 2008.
"We are very pleased to sign this new supply contract, which shows our strong mining and processing ability in nonferrous concentrates," said Ms. Jessica Yu, Chairwoman and CEO of China Shen Zhou. "Our zinc and copper manufacturing has been in good production since we successfully completed the 200,000-ton-capacity processing plant in April. We signed two supply contracts in May and since then have been transporting nonferrous concentrates to our clients smoothly. We will further enhance our mining and processing capacity to satisfy clients' demands and we are committed to increasing our profitability."
The new nonferrous metal concentrator at Xingzhen Mining was completed in April 2008. It is located in Buerjiin County in northern Xinjiang, about three miles from the Company's Keyinbulake nonferrous metal mine, which has a mining license valid until August 2013. The Keyinbulake deposit is situated in one of the most geologically rich regions of Xinjiang.
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its subsidiary, American Federal Mining Group ("AFMG"), is engaged in the exploration, development, mining, and processing of fluorite and nonferrous metals such as zinc, lead and copper in China. The Company has the following principal areas of interest in China: (a) fluorite extraction and processing in the Sumochaganaobao region of Inner Mongolia; (b) zinc/copper/lead exploration, mining and processing in Wulatehouqi of Inner Mongolia; and (c) zinc/copper exploration, mining and processing in Xinjiang. In addition, AFMG owns 100% of Kichi-Chaarat Closed Joint Stock Company, whose major assets include a copper-gold mine located in the Kuru-Tegerek region of western Kyrgyzstan.
For more information, please visit http://www.chinaszmg.com/ Safe Harbor Statement
Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe,""expect,""may,""will,""should,""project,""plan,""seek,""intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in the People's Republic of China, variations in cash flow, fluctuation in mineral prices, risks associated with exploration and mining operations, and the potential of securing additional mineral resources, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact: In China: Sterling Song Senior Investor Relations Manager China Shen Zhou Mining & Resources, Inc. Tel: +86-10-6887-2811 Email: [email protected] Web: http://www.chinaszmg.com/ In the U.S.: David Elias Investor Relations DME Capital LLC Tel: +1-516-967-0205 Email: [email protected]
China Shen Zhou Mining & Resources, Inc.
CONTACT: In China: Sterling Song, Senior Investor Relations Manager ofChina Shen Zhou Mining & Resources, Inc., +86-10-6887-2811, [email protected]; In the U.S.: David Elias, Investor Relations of DMECapital LLC, +1-516-967-0205, or [email protected], for China Shen Zhou
Web Site: http://www.chinaszmg.com/