:lt:ill: SAPPHIRE CORPORATION LIMITED (lncorporated in the Republic of Slngapore) (Company Registration No. 198502465W)

Sapphire Corporation Limited (the "Company") refers to the previous announcement dated 2 November
2012 in relation to a possible prlvatisation of China Vanadium Titano-Magnetic Mining Company ("China
VTM"). The Company has been informed that China VTM has announced,inter alia, that:
(a) Trisonic lnternational Llmlted ("Trisonlc")1 (the controlllng shareholder of China VTM) has informed the board of China VTM that it is interested in pursuing a proposal for the privatisation of China VTM (the "Proposal") by Keen Talent Holdings limited ("Keen Talent") (a wholly-owned subsidiary of Trisonic);and
(b) the making of a formai offer in respect of the Proposal by Keen Talent is subject to a number of matters being satisfied, including but not limited to the procuring of appropriate flnanclng for the Proposal on satisfactory terms.
A copy ofthe announcement released by China VTM is annexed herewith.

For the avoldance of doubt, the Company wishes to clarify that it is nota party to and will not be involved in the financing of the proposed privatisation of China VTM by Keen Talent.

8 November 2012

Mr. Wang Jin is the controlling shareholder of both the Company and Trisonic. He has (i) a dlrect and deemed interest in approximately 15.94% and 11.24% of the issued share capitai of the Company respectively, and (ii) owns or controls approximately 82.6% of the issued share capitai of Trisonic.

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