Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Bermuda with limited liability)

(Stock Code: 1131)

UPDATE ON THE MINING BUSINESS

IN RELATION TO ACQUISITION OF LONGWALL SYSTEM

This announcement is made by Agritrade Resources Limited (the "Company", together with its subsidiaries, collectively referred to as the "Group") on a voluntary basis to provide the shareholders and potential investors of the Company with the latest information on the recent development of the mining business of the Group at the underground coal mine (the "Merge Mine") located in South Kalimantan, Indonesia.

ACQUISITION OF LONGWALL SYSTEM

The board (the "Board") of directors of the Company is pleased to announce that on 14 May 2018, Agritrade Mine Holdings Limited, a direct wholly-owned subsidiary of the Company, entered into an equipment supply contract to acquire (the "Acquisition") a complete set of longwall system from a leading comprehensive coal mining and excavating equipment manufacturer in the People's Republic of China at a consideration of RMB139,400,000 for the Group's mining operation at the Merge Mine. After the Acquisition, the Merge Mine will be operated with two longwall systems. The Board expects that the production capacity of the Merge Mine will be increased by approximately 2.5 million tonnes annually following the Acquisition, reaching a total annual production capacity of approximate 3.5 million tonnes.

By order of the Board

Agritrade Resources Limited

Ashok Kumar Sahoo Executive Director and Chief Financial Officer

Hong Kong, 14 May 2018

As at the date of this announcement, the Board comprises Mr. Ng Say Pek (Chairman), Mr. Ng Xinwei, Ms. Lim Beng Kim, Lulu and Mr. Ashok Kumar Sahoo as executive Directors and Mr. Chong Lee Chang, Mr. Siu Kin Wai, Mr. Terence Chang Xiang Wen, Mr. Cheng Yu and Mr. Phen Chun Shing

Vincent as independent non-executive Directors.

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Agritrade Resources Ltd. published this content on 14 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 May 2018 11:57:07 UTC