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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 Hong Kong with limited liability)

(Stock Exchange of Hong Kong Code: 1029)

IRC COMMENCES HOT COMMISSIONING PHASE WITH FIRST STAGE CRUSHING AND SCREENING PLANT

Monday, 31 August 2015 : IRC Limited (''IRC'' or the ''Company'', together with its subsidiaries, the ''Group''; Stock Code 1029) is pleased to announce the successful hot commissioning of the first stage of the crushing and screening plant and magnetic separation machinery. First iron ore from K&S has been fed into the jaw crushers and passed through magnetic separators (see page 2 for photos). This represents a starting milestone in the hot commissioning timeline, and confirms IRC is on track to achieve its goal to commence commercial shipments of K&S product to customers in H2 2015.

KEY HIGHLIGHTS

. First ore has been fed into the crushing and screening plant, a significant step in the commissioning program

. IRC remains on schedule to start commercial shipments of iron ore concentrate to customers in H2

2015
The hot commissioning programme is now on-going, and soon, we hope to announce the following major milestones:

- Full hot commissioning of the second and final phase of the crushing and screening facilities, allowing the production of a pre-concentrate;

- Full hot commissioning of the railway and associated infrastructure, allowing movement of wagons and rail equipment to the national network;

- Full hot commissioning of the processing plant and drying unit, allowing production of final product; and

- First shipment of final product to customers.

First Vice-chairman of the Government of the Jewish Autonomous Region (''EAO'') Mr. Viktor Gozhy and Chairman of the Legislative Assembly of the EAO Mr. Anatoly Tikhomirov visited the site, and praised IRC's construction and ''Heath, Safety and Environmental'' efforts.

Commenting on the news, Jay Hambro, Executive Chairman of IRC said: ''In these troubled markets I am glad that a bright light is beginning to illuminate in the Russian Far East. With this news we are continuing to make great strides towards the start of full commercial production.''

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K&S Flowsheet


First ore fed into the crushing and screening plant Ore going through the crusher

K&S aerial view showing with annotations of hot commissioning milestones: 1CS - First stage crushing & screening;

2CS - Second stage crushing & screening; PP - Processing plant; DU - Drying unit; R - Railway.

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By Order of the Board

G. JAY HAMBRO

Executive Chairman
Hong Kong, People's Republic of China
Monday, 31 August 2015

As at the date of this announcement, the Executive Directors of the Company are Mr G. Jay Hambro and Mr Yury Makarov. The Non-Executive Directors are Mr Cai Sui Xin, Mr Liu Qingchun, Mr Simon Murray, CBE, Chevalier de la Légion d'Honneur and Mr Raymond Kar Tung Woo. The Independent Non-Executive Directors are Mr Daniel Bradshaw, Mr Chuang-Fei Li and Mr Jonathan Martin Smith.

IRC Limited

6H, 9 Queen's Road Central
Hong Kong
Tel: +852 2772 0007
Email: ir@ircgroup.com.hk
Website: www.ircgroup.com.hk
For further information please visit www.ircgroup.com.hk or contact:

Shirly Chan

Manager - Communications & Investor Relations
Telephone: +852 2772 0007
Mobile: +852 9688 8293
Email: sc@ircgroup.com.hk

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