ICO Group Limited — Capital/Financing Update 2011

Apr 7, 2011

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Bermuda with limited liability)

(Stock Code : 630)

EXTENSION OF THE MEMORANDUM OF UNDERSTANDING RELATING TO ACQUISITION OF A MINING ASSET

This announcement is made pursuant to Rule 13.09 of the Listing Rules.

Reference is made to the announcement of the Company dated 1 February 2011 (the “ Announcement ”) in relation to the entering into of the Memorandum of Understanding among the Subsidiary and the Vendors. Capitalised terms used herein shall have the same meanings ascribed to the Announcement unless otherwise defined.

As set out in the Announcement, one of the purposes of the Memorandum of Understanding is to give the Subsidiary the exclusivity period of 45 business days from the date of signing of the Memorandum of Understanding to conduct the necessary due diligence on the Target and the PRC Company, and to allow the parties to negotiate on the terms and conditions of the sale and purchase of the Sale Shares, if the Transaction materialises. During such exclusivity period, the Vendors have agreed not to, and procure the Target and its directors, employees and agents not to, directly or indirectly, pursue, solicit, negotiate or enter into discussion or contract, or letter of intent or memorandum of understanding with, or provide any information to, any parties in respect of the sale by them of the Sale Shares.

• For identification purposes only

1

As at the date of this announcement, the Transaction is still under discussion and negotiations. Accordingly, on 7 April 2011, the Subsidiary and the Vendors have entered into an extension letter to extend the exclusivity period to 7 July 2011 (or such other dates as agreed by the parties to the Memorandum of Understanding). Save for the aforementioned, all other terms of the Memorandum of Understanding remain unchanged.

The continuation of discussion on the Transaction may or may not lead to the entering into of the Formal Agreement. In the event that the Transaction materialises, it will constitute a notifiable transaction for the Company under the Listing Rules. Further announcement(s) will be made in respect thereof as and when required by the Listing Rules.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board Guojin Resources Holdings Limited Yip Wai Lun, Alvin Chairman and Managing Director

Hong Kong, 7 April 2011

As at the date of this announcement, Mr. Yip Wai Lun, Alvin, Mr. Ma Bo Ping, Mr. Zhou Yu Sheng, Ms. Lam Suk Ling, Shirley and Mr. Lee Cheuk Yin, Dannis are the executive Directors and Mr. Leung Ka Kui, Johnny, Mr. Chan Kam Kwan, Jason and Mr. Lau Man Tak are the independent non-executive Directors.

2