The board of directors of the China Daye Non-Ferrous Metals Mining Limited announced that it is expected that the operating results of the company and its subsidiaries for the year ended December 31, 2011 may experience a decline as compared to the same period of 2010. The expected decline is mainly attributable to the increase in the interest expenses on convertible notes; the increase in legal and professional fee; the increase in manpower of the group; the impairment loss in mining right and the decrease in the gross profit of the group.