AUKING MINING LIMITED — Capital/Financing Update 2013

Oct 24, 2013

Chinalco Yunnan Copper Resources Limited ABN 29 070 859 522

Level 5, 10 Market Street Brisbane QLD 4000 GPO Box 216 Brisbane QLD 4001 Tel: +61 7 3212 6204 Fax: +61 7 3212 6250

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ASX Release

25 October 2013

Partially underwritten non-renounceable entitlement offer to raise approximately $2.48 million

Chinalco Yunnan Copper Resources Ltd (ASX:CYU) ( Company ) announces a non-renounceable entitlement offer to eligible shareholders, on the basis of 1 new fully paid ordinary share ( New Shares ) for every 4 shares held, at an issue price of $0.04 per New Share to raise approximately $2.48 million before costs ( Offer ). The Offer will be available to all eligible shareholders who hold shares as at 7:00pm (AEDT) on the record date of 4 November 2013. Following quotation, the New Shares will rank equally in all respects from the date of allotment with existing quoted shares on issue.

The Offer is underwritten up to approximately $1.06 million, representing 42.8% of the total Offer, by China Yunnan Copper (Australia) Investment and Development Co. Ltd, the Company’s largest shareholder. The underwriting means that the receipt of almost 50% of the funds sought under the Offer can be guaranteed and the Company will be able to implement its planned activities. A nominal $1 fee is being charged in relation to the underwriting provided.

The Offer is being undertaken pursuant to a prospectus issued under section 713 of the Corporations Act ( Prospectus ). Full details of the Offer are set out in the Prospectus. The Prospectus, along with an Entitlement and Acceptance Form, will be dispatched to eligible shareholders on 11 November 2013.

The Company has determined that only those shareholders with registered addresses in Australia or New Zealand will be eligible to participate in the Offer.

The funds raised under the Offer (after payment of costs) will be used to continue to develop the Company’s business and meet its strategic goals as identified in Section 1.5 of the Prospectus. More particularly, funds raised under the Offer have been earmarked for exploration activities mostly in Australia where CYU’s current Mt Isa projects are held, and working capital purposes.

A proposed timetable for the Offer is set out below:

Announcement of the Offer	25 October 2013
Prospectus lodged with ASIC and ASX	25 October 2013
Notice sent to Eligible Shareholders with information on the Offer	28 October 2013
Shares commence trading on an “ex” basis (“ex” date)	29 October 2013
Record Date to determine Entitlements under the Offer	4 November 2013 (7:00pm AEDT)
Prospectus and Entitlement and Acceptance Forms dispatched to Eligible Shareholders	11 November 2013
Opening Date of Offer	11 November 2013 (9:00am AEDT)
Closing Date of Offer	25 November 2013 (5:00pm AEDT)
New Shares quoted on a deferred settlement basis	26 November 2013
Expected date of Issue of New Shares applied for under the Offer and any Shortfall	3 December 2013
Deferred settlement trading ends	3 December 2013
Expected date of dispatch of transaction confirmation statements	4 December 2013
Expected date for commencement of normal trading of New Shares issued under the Offer on the ASX	4 December 2013

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These dates are indicative only and subject to change. The Company reserves the right, subject to the Corporations Act and the Listing Rules, to change any date including to extend the Closing Date of the Offer, to close the Offer early, to accept late acceptances either generally or in particular cases, or to withdraw or reduce the size of the Offer without notice. Any extension of the Closing Date will have a consequential effect on the issue date of New Shares.

Further information

If the Offer is fully subscribed, 61,998,545 New Shares will be issued under the Offer. The New Shares will be issued for $0.04 each. Upon completion of the Offer, the issued capital of the Company will comprise approximately 309,992,728 shares.

Following quotation, the New Shares will rank equally in all respects from the date of allotment with existing quoted shares on issue. Fractional entitlements under the Offer will be rounded up to the nearest whole number.

Trading in the New Shares on the ASX is expected to commence on or about 4 December 2013. An Appendix 3B applying for quotation of the New Shares will be lodged with ASX separately.

CYU Managing Director, Paul Williams, encouraged shareholders to participate in the Offer. He said the additional funds to be raised under the Offer would enable CYU to continue with its stated exploration aims into 2014 and that it was pleasing the underwriting support from China Yunnan Copper has been made available – demonstrating the largest shareholder’s ongoing faith in CYU’s project activities.

Enquiries:

Mr Paul Williams Managing Director 61 7 3211 9013

www.cycal.com.au

About CYU

Chinalco Yunnan Copper Resources Ltd (“CYU” or “Company”) is a resource exploration and development company with project interests in the Mt Isa region of north Queensland, Chile and northern Laos.

CYU’s largest shareholder is China Yunnan Copper (Australia) Investment and Development Co Ltd (“CYC”), owning 43% of the total issued shares in CYU. CYC is a wholly-owned subsidiary of Kunmingbased Yunnan Copper Industry (Group) Co Ltd, which is the third largest producer of smelted copper product in China. In turn, Yunnan Copper Group is a subsidiary of Aluminium Corporation of China (Chinalco) which is the largest producer of aluminium product in China and the second largest world-wide.

CYU has offices in Brisbane, Mt Isa and in Santiago. The Company is listed on the ASX under the symbol “CYU”.

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