AUKING MINING LIMITED — Board/Management Information 2016

Dec 5, 2016

Chinalco Yunnan Copper Resources Limited ABN 29 070 859 522

Suite 6, Level 11, 320 Adelaide Street Brisbane QLD 4000 GPO Box 216 Brisbane QLD 4001 Tel: +61 7 3041 1306

==> picture [86 x 92] intentionally omitted <==

6 December 2016

ASX ANNOUNCEMENT

Changes to CYU Board

CYU wishes to announce certain changes to its Board of Directors. These changes have arisen after the recent successful completion of the entitlement offer to existing shareholders and the resulting adjustment in holdings of CYU’s two major shareholders, China Yunnan Copper (Aust) and Bienitial International Industrial Co.

These changes are as follows:

1. Mr Zhihua Yao has resigned as non-executive Chairman and a Director of CYU;

2. Dr Huaisheng Peng has been appointed a new Director and will assume the role of nonexecutive Chairman;

3. Mr Xiancheng Wang has resigned as a Director and will be replaced by his son (and existing alternate Director) Mr Qinghai Wang as a non-executive Director.

Both Paul Williams and Robert Yang will continue in their existing executive roles at CYU.

Dr Peng and Mr Qinghai Wang are very experienced mining industry professionals and currently hold senior executive roles with Shanghai Stock Exchange-listed JCHX Mining Management Co Ltd (“JCMM”). A short summary of their respective CV’s is set out below.

Dr Huaisheng Peng

Dr Peng is a Chinese citizen and professional senior mining engineer with over 25 years’ experience in the mining sector. He was born in 1964 and obtained a Mining Engineering Bachelor degree from the Northeast University in Shenyang, Liaoning, an EMBA degree from Tsinghua University, Beijing, and a PhD in Science from Central South University at Changsha, China. He is also a supervisor of PhD degree applicants.

From November 1989 to December 2007, Dr. Peng served in the China Nonferrous Engineering and Research Institute successively as Engineer, Senior Engineer, Vice Director, Vice President, and Deputy General Manager of China ENFI Engineering Corporation (China’s largest engineering firm).

Between 2008 and mid-2014 Dr Peng served in various roles with Aluminum Corp of China (“Chinalco”) including Executive Director and CEO of Hong Kong Stock Exchange-listed Chinalco Mining International Ltd (“CMI”). During this period Dr Peng oversaw construction and development of the large Toromocho copper mine in Peru as well as the stock market listing of CMI in Hong Kong.

Dr Peng is currently President of JCHX Group Co Ltd and a Director of JCMM.

1

Mr Qinghai Wang

Mr Wang is a Chinese citizen, 35 years of age and holds a Master Degree in Management and Finance from the University of Bath in the United Kingdom.

Mr Wang is currently Vice President and Director of JCMM and also the sole Director of CYU’s largest shareholder, Bienitial International Industrial Co Ltd.

Mr. Wang previously served at JCMM in the roles of Auditor, Vice Manager of Legal & Securities Department, General Manager of HR Management Centre, and Assistant President. In his current position Mr Wang supervises the Human Resources and Information Technology divisions within JCMM.

CYU Managing Director, Paul Williams, thanked Mr Yao for his many years of service as a Director and in more recent years, as the non-executive Chairman. Mr Williams further noted the contribution of Mr Wang – albeit short – was still essential in ensuring that CYU was placed in a strong position to secure good mining project opportunities. Mr Wang is also Chairman of JCMM and while he will continue to take an active interest in CYU’s activities it was considered that Mr Wang’s ongoing participation on the CYU Board was not the best corporate governance as the activities of CYU and JCMM are likely to overlap in the future.

Mr Williams said “The Board changes set out above reflect the gradual dilution of the Chinalco Group’s influence on CYU as well as the escalation of JCHX Group’s position in the Company. Both Dr Peng and Mr Wang will bring substantial operating expertise and experience to the CYU Board, placing CYU in a strong position to secure mining project opportunities that are currently under review and consideration.”

The necessary forms associated with these appointments will also be lodged with ASX shortly.

Yours sincerely

==> picture [80 x 69] intentionally omitted <==

Paul Williams Managing Director 0419 762 487

2