Qiniu Limited — Capital/Financing Update 2011

May 6, 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.

SIBERIAN MINING GROUP COMPANY LIMITED 西伯利亞礦業集團有限公司 [*]

(incorporated in the Cayman Islands with limited liability)

(Stock code: 1142)

VOLUNTARY ANNOUNCEMENT

This is a voluntary announcement made by Siberian Mining Group Company Limited (the “ Company ”).

The board of directors of the Company (the “ Board ”) would like to announce that on 29 April 2011, the Company, C.I. Trenaco Colombia SAS and three Korean investors (together the “ Parties ”) entered into a memorandum of understanding (the “ MOU ”) to express the Parties’ intention to work together and cooperate to explore potential future investment opportunities in the Colombian coal sector. As of the date of this announcement, the Parties have not identified any particular investment project. The MOU is non-exclusive and each Party is free to enter into any discussion, negotiation or business relationship with any third party with respect to any business activity. The MOU is non-legally binding on the Parties except in relation to confidentiality of the MOU.

The Parties may or may not proceed with such investment project. If such potential investment will materialize, the Company will make further announcement and comply with the applicable requirements under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited accordingly.

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

Made by the order of the Board, the directors of which individually and jointly accept responsibility for the accuracy of this statement.

By order of the Board Siberian Mining Group Company Limited Lim Ho Sok Chairman

Hong Kong, 6 May 2011

As at the date of this announcement, the Board comprises Mr. Lim Ho Sok and Mr. Shin Min Chul as executive directors of the Company and Mr. Pang Ngoi Wah Edward as non-executive director of the Company and Mr. Liew Swee Yean, Mr. Tam Tak Wah and Mr. Young Yue Wing Alvin as independent non-executive directors of the Company.

* for identification purpose only