AUKING MINING LIMITED — Board/Management Information 2008

Jan 29, 2008

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ASX/MEDIA ANNOUNCEMENT

30[th] January 2008

CHINALCO and YCI nominate TWO REPLACEMENT DIRECTORS to CHINA YUNNAN COPPER AUSTRALIA LTD’s (CYU) BOARD and confirm CYU as YCI’s INTERNATIONAL INVESTMENT ARM and MINING HOUSE.

As Co-Chairman of China Yunnan Copper Australia Limited (CYU) I am pleased to announce the appointment of two Yunnan Copper Industry (Group) Co Ltd (YCI) senior executives as non-executive Directors of CYU to replace outgoing Directors Dr Shaolu Zou and Dr Weiping Yu :

1. Mr Chao Yang is a Director and General Manager of CYI. Mr Yang has had extensive experience and is highly regarded having worked in the mining and metallurgical industries in China with major corporations over a period of 34 years. Mr Yang will also occupy the position of non-executive Co-Chairman of CYU.

2. Mr Liang Zhong is Vice General Manager and Chief Financial Officer of CYI. Mr Zhong has had 25 years experience in the mining and metallurgical industries and is responsible for YCI’s financing, marketing and investments.

On behalf of myself and my fellow Directors I would like to sincerely thank both Dr Shaolu Zou and Dr Weiping Yu for their past services to CYU and in particular to their assistance in negotiating and finalizing YCI’s initial cornerstone investment in CYU.

In addition, I am very pleased to advise that by letter dated 25[th] January, 2008 (see attached) Dr Caiming Liu the newly appointed Chairman of YCI and Vice General Manager of Aluminum Corporation of China (Chinalco) confirmed the strategic alliance between Chinalco and YCI and reiterated their ongoing support for CYU to take the role of becoming YCI’s international investment arm and mining house.

As detailed in Dr Liu’s letter, in October, 2007, Chinalco invested through a new placement A$1.48 Billion (RMB 9.5 Billion) to acquire a 49% interest in YCI and the resulting strategic alliance between the two assists Chinalco to strengthen its three major product lines of aluminum, copper and rare earths.

YCI is a cornerstone investor in CYU with 21.2% of the issued shares and holding options to subscribe (at A$ 0.40c) for another 16.4 million shares.

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Chinalco was China’s No 1 alumina and aluminum producer in calendar year 2007 with revenue of A$ 20.6 Billion (RMB 131.7 Billion), assets of A$ 31.5 Billion (RMB 201.4 Billion) and profits of more than A$ 3.13 Billion (RMB 20 Billion). In 2007 Chinalco achieved milestone investments in some world class projects, such as acquiring Peru Copper with a copper resource of 12 Million metric tones, initiating the development of the Aurukun alumina project in Queensland, and acquiring the approval to develop a one-million metric tonne primary aluminum project in Saudi Arabia.

In 2007, YCI was the third largest copper producer in China with various non-ferrous metals production totalling 555,000 metric tones. YCI’s revenue in 2007 was A$ 6.35 Billion (RMB 40.6 Billion), assets of A$ 6.49 Billion (RMB 41.5 Billion) and profits of A$ 673 Million (RMB 4.3 Billion).

I agree with Dr Caiming Liu’s comments that the alliance between Chinalco and YCI will upgrade the capacity for future development and investment by the group and CYU with its now confirmed role as YCI’s International Investment Arm and mining house will benefit significantly from such a synergy. With the help of Chinalco and CYI we look forward to the introduction of high value projects into CYU on an ongoing basis, which will, I hope, allow CYU to rapidly expand.

It is therefore with great pleasure that I welcome Mr Chao Yang as non-executive CoChairman and Mr Liang Zhong as non-executive Director to the Board of CYU and I look forward to working closely with them and other senior executives of Chinalco and YCI including Dr Caiming Liu for the mutual benefit of all three companies.

Norman J. Zillman Co-Chairman

About CYU

CYU listed on the ASX on 29 October 2007 raising $4 million. CYU is an Australian company formed to explore for and develop minerals in Australia and overseas. Cornerstone investor, Yunnan Copper Industry (Group) Co Ltd, is one of China’s largest copper producers. CYU is targeting high quality copper, gold and uranium projects with eleven wholly owned Exploration Permit for Minerals (EPM’s) in the Mt Isa Inlier, Ravenswood-Pentland Province and the Clermont Inlier in Queensland.

For further information please contact; Dr Mark Elliott Managing Director CYU 0409 998 840

Kevin Kartun Account Director Financial & Corporate Relations (02) 8264 1003

or visit the website, www.cycal.com.au

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云南铜业 ( 集团 ) 有限公司 YUNNAN COPPER INDUSTRY (GROUP) CO., LTD 中国云南省昆明市人民东路111 号 No.111 Renming Dong Road,Kunming,Yunnan,China Tel: +86-871-317 6806 Fax: +86-871-312 4834

25 January 2008 2008 年 1 月 25 日

The Directors China Yunnan Copper Australia Limited Level 5, 60 Edward Street Brisbane, QLD 4000 致中国云铜澳大利亚有限公司董事

Dear Gentlemen, 尊敬的先生们，

As the newly appointed Chairman of Yunnan Copper Industry (Group) Co. Ltd. (YCI) and Vice General Manager of Aluminum Corporation of China (Chinalco), I would like to take this chance to brief you on the Strategic Alliance between Chinalco and YCI and reiterate our ongoing support to China Yunnan Copper Australia Limited (CYU).

做为新指定的云南铜业（集团）有限公司（YCI）董事会主席和中国铝业公司 (Chinalco)副总经理，我借此机会 简要介绍一下中铝和云铜的战略合作并重申我 们对中国云铜澳大利亚有限公司 (CYU) 的持续支持 。

Firstly I will address our ongoing support of CYU: 首先我将强调我们对 CYU 的持续支持：

In 2007 YCI became a cornerstone investor in CYU with 21.2% of the issued shares, and options to subscribe for another 16.4 million shares. We have taken this position to become involved in the Australian mining industry, including exploration and mining, and to use CYU’s experience and skills to help develop future mining projects overseas.

在 2007 年，通过收购 21.2%CYU 所发行股票及 1640 万股票认购权，云铜成为 CYU 的单一最大股东。通过此投资，云铜进一步进入澳大利亚矿业，特别是资 源勘探及项目开发，云铜将利用 CYU 的经验和技术来帮助云铜开发海外矿业项 目。

To endorse our support of CYU and to reflect the recent restructure of management team in YCI, I am pleased to welcome the new appointment of directors nominated by YCI to the CYU board:

为表明我们对 CYU 的支持并反映云铜集团最近管理队伍的调整，我很高兴由云 铜集团提名的以下两名人选被 CYU 指定为公司新董事：

1. Mr Chao Yang, Director and General Manager of Yunnan Copper Industry (Group) Co. Ltd. Mr Yang has had extensive experience and high reputation in the mining and metallurgical industries in China with major corporations over a period of 34 years.

   • 杨超先生，云铜集团的董事和总经理，有着在数家中国知名公司长达 34 年的工作经历，拥有丰富的矿业和冶炼业经验和较高的声望。

2. Mr Liang Zhong, Vice general Manager and Chief Financial Officer of Yunnan Copper Industry (Group) Co. Ltd. Mr Zhong has had 25 years experience in the mining and metallurgical industries and is responsible for YCI’s financing, marketing, and investments.

   • 钟亮先生，云铜集团副总经理，在中国矿业和冶炼业有着 25 年的从业经 历，主管云铜集团的融资、营销、投资等事宜。

We would like to thank both Dr Shaolu Zou and Dr Weiping Yu for their past services to CYU.

我们感谢邹韶禄博士和余卫平博士过去对 CYU 的服务。

I believe these appointments will help CYU continue to take the role of becoming YCI’s international investment arm and mining house. We feel confident that through the hard work and cooperation between the Chinese and Australian directors we can introduce high value projects to the company on an ongoing basis which will allow CYU to rapidly expand with the support that YCI will provide.

我相信新董事的指定将帮助 CYU 继续承担起做为云铜海外投资和矿业开发的平 台的重任，通过中澳双方董事的努力工作和通力合作，我们有信心不断向 CYU 引入高价值的项目，并在云铜的支持下，使 CYU 能够快速增长。

Under the Strategic Alliance with Chinalco, such a relationship can definitely bring both sides more opportunities to invest and develop major international projects. We believe it can generate more value for CYU investors and the future of CYU is very positive and bright.

通过中铝和云铜的战略合作，将肯定为双方带来更多的投资和开发国际项目的机 会，我们相信这一战略关系将为 CYU 的投资者产生更多的价值，CYU 的发展前 景非常光明。

Secondly I would like to address the Strategic Alliance between Chinalco and YCI:

其次，我将简介一下中铝和云铜间的战略合作：

According to the Strategic Alliance Agreement signed between Yunnan Provincial Government and Chinalco on 30 Oct 2007, Chinalco invested RMB9.5 billion to acquire 49% of the shares in YCI through a new placement. This transaction reinforces the strategies of Chinalco to increase its copper production capacity and to expand Chinalco into an international poly-metallic mining group to enhance its competitive edge in the world mining industry.

根据 2007 年 10 月 30 日中铝和云南省政府签定的战略合作协议，通过增资，中

铝投资 95 亿人民币获得云铜 49%的股份。此次合作标志着中铝进一步完善铜产 业链，在向多金属国际化矿业公司转型、打造具有国际竞争力的大企业集团的道 路上迈出了实质性的步伐。

Meanwhile, the alliance assists Chinalco to integrate and strengthen its three major product lines of aluminum, copper and rare earths. Through providing funds, resources and technical support, Chinalco will help YCI to accelerate its pace to acquire and develop mineral resources in China and overseas. Also Chinalco intends to use YCI to develop and operate the copper projects acquired by Chinalco in order to secure a sustainable development for YCI in raw material supply. Chinalco will also support YCI in various ways including provision of advanced copper processing technologies that Chinalco holds, management, marketing and R&D with the purpose of extending and adding value to YCI’s product lines. . These strategies will help YCI beef up its international competitive position and build up YCI as a first tier copper producing group in the world.

同时，战略合作将有助于中铝整合及加强其铝、铜、稀土三大主业，通过提供资 金、资源和技术支持，中铝将帮助云铜加速在中国和国际上获取和开发矿业资源 项目，同时中铝也将考虑由云铜来开发和经营中铝所获得的铜矿项目以解决云铜 可持续发展的资源瓶颈；中铝将通过多方面的支持来帮助云铜做强做大，借助中 铝公司在铜加工方面的的技术实力、所拥有的技术、人才、市场和研发优势，云 铜将能够延长产业链，提升产品附加值。这些举措将帮助云铜加强其国际竞争能 力，成为世界一流的铜产业企业。

As No. 1 producer of alumina and aluminum, in the calendar year of 2007, Chinalco’s revenue, assets and profit reached RMB131.7 billion, RMB201.4 billion and more than RMB20 billion respectively. In 2007, Chinalco achieved milestone investments in some world class projects, such as acquiring Peru Copper with a copper resource of 12 million metric tonnes, initiating the development of the Aurukun alumina project in Australia, and acquiring the approval to develop a one-million metric tonnes primary aluminum project in Saudi Arabia.

做为中国铝工业的龙头，在 2007 年，中铝实现销售收入 1317 亿人民币、总资产 2014 亿、利润超过 200 亿。同时，中铝在海外多个世界级的资源项目投资方面 取得标志性的成果，如通过并购秘鲁铜业获得了 1200 万吨的铜资源、启动了澳 洲的奥鲁昆铝氧项目、沙特 100 万吨电解铝项目获得了许可证。

In 2007, YCI produced various nonferrous metals totaling 555,000 metric tonnes, realized revenue of RMB40.6 billion, pre-tax profit of RMB4.3 billion and had total assets of RMB41.5 billion at year end. These achievements place YCI as the 3[rd] largest copper producer in China.

2007 年，云铜生产有色金属总量 55.5 万吨，实现销售收入 406 亿人民币、利税 总额 43 亿，总资产达到 415 亿人民币，这些成果使云铜稳列中国铜工业第三位。

Undoubtedly, the alliance of two companies will form a synergy through products and projects integration and upgrade the capacity for future development and investment. Hence, CYU’s future development can be based on a more solid cornerstone and