China Natural Resources Completes Due Diligence; Moves Forward with Strategic Acquisition of Lithium Mine in Zimbabwe with Maximum Consideration Contemplated to be US$1.75 Billion

HONG KONG, April 14, 2023 /PRNewswire/ -- China Natural Resources, Inc. (NASDAQ: CHNR) ("China Natural Resources," the "Company," or "CHNR") announced today that the Company has completed its due diligence investigation with satisfactory results, and will proceed with the acquisition of Williams Minerals (Pvt) Ltd ("Williams Minerals") by paying a deposit of US$35 million by way of promissory notes to Feishang Group Limited and Top Pacific (China) Limited (the "Sellers") on or about April 21, 2023, pursuant to the definitive sale and purchase agreement that the Company entered into with the Sellers on February 27, 2023 (the "Sale and Purchase Agreement").

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