Nan Nan Resources : FURTHER DELAY IN DESPATCH OF CIRCULAR - VERY SUBSTANTIAL ACQUISITION - ACQUISITION OF NEW MINING RIGHT IN XINJIANG

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NAN NAN RESOURCES ENTERPRISE LIMITED

南南資源實業有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 1229)

FURTHER DELAY IN DESPATCH OF CIRCULAR

VERY SUBSTANTIAL ACQUISITION

ACQUISITION OF NEW MINING RIGHT IN XINJIANG

References are made to the announcement of Nan Nan Resources Enterprise Limited (the "Company") dated 6 December 2019 in relation to the acquisition of the New Mining Right by Kaiyuan Company from the Transferor pursuant to the terms of the Transfer Agreement (the "Announcement"), and the announcements of the Company dated 14 May 2020 and 14 July 2020 in relation to the delay in despatch of the Circular (the "Delay in Despatch Announcements"). Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

As disclosed in the Delay in Despatch Announcements, the Circular containing, amongst others, (i) further details of the Transfer Agreement and the transactions contemplated thereunder; (ii) the Competent Person's Report and a valuation report in respect of the Enlarged Kaiyuan Mine; (iii) a notice of SGM; and (iv) other information as required under the Listing Rules, is expected to be despatched to the Shareholders on or before 14 August 2020.

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As additional time is required by the Company for arranging bulk printing of the Circular, it is currently expected that the date of despatch of the Circular will be postponed to a date falling on or before 19 August 2020.

By Order of the Board

Nan Nan Resources Enterprise Limited

Kwan Man Fai

Chairman and Managing Director

Hong Kong, 14 August 2020

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Kwan Man Fai, Mr. Wang Xiangfei and Mr. Wong Sze Wai; three independent non-executive Directors, namely Dr. Wong Man Hin Raymond, Mr. Chan Yiu Fai Youdey and Mr. Pak Wai Keung Martin; and one alternate Director, namely Mr. Wang Xiaoyao (alternate to Mr. Wang Xiangfei).

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