Qiniu Limited — M&A Activity 2011

Oct 20, 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)

POTENTIAL TERMINATION OF THE VERY SUBSTANTIAL ACQUISITION

The Board would like to announce that Trenaco Holdings Ltd (a wholly-owned subsidiary of the Company) is in preliminary discussions with the Target Company and the Target Shareholders to explore the possibility of terminating the Share Subscription Agreement by mutual consent.

No definitive termination agreement has been entered into as at the date hereof. There is no assurance that the current discussions will result in a definitive termination agreement. Shareholders and investors are advised to exercise caution when dealing in the securities of the Company.

This announcement is made by Siberian Mining Group Company Limited (the “ Company ”) pursuant to Rule 13.09 (1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”).

Reference is made to i) the announcement of the Company dated 17 April 2011 in relation to, among other things, the subscription of 70% of the enlarged issued share capital of Trenaco SA, which constitutes a very substantial acquisition of the Company under the Listing Rules; and ii) the announcement of the Company dated 18 August 2011 in relation to the novation of the Share Subscription Agreement and changes in terms of the Finders Fees Agreement and the Target Shareholders Fees Agreement (together referred to as the “ Announcements ”). Terms used in this announcement shall have the same meanings as those defined in the Announcements unless otherwise stated herein.

The Board would like to announce that Trenaco Holdings Ltd (a wholly-owned subsidiary of the Company) is in preliminary discussions with the Target Company and the Target Shareholders (the “ Parties ”) to explore the possibility of terminating the Share Subscription Agreement by mutual consent.

As of the date of this announcement, no legally binding agreement nor contract relating to such potential termination has been entered into by the Parties. The Parties may or may not proceed with such termination. If such potential termination will materialize, the Board expects that the Parties may enter into a definitive termination agreement and the Company will make further announcement and comply with the applicable requirements under the Listing Rules accordingly.

* For identification purposes only

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No definitive termination agreement has been entered into as at the date hereof. There is no assurance that the current discussions will result in a definitive termination agreement. Shareholders and investors are advised to exercise caution when dealing in the securities of the Company.

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

Hong Kong, 20 October 2011

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

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