China National Resources Development Holdings Ltd

China National Resources Development Holdings Ltd is engaged in natural resources investment as well securities trading and investments, property investment, management consultancy and development.

During the fiscal year ended April 30, 2008, the Company acquired mining and related businesses, including the Mines located in The Republic of Mongolia, the Aleinuer Molybdenum Mine, the Burentsogt Wolfram Mine, the Sala Wolfram Mine and the Tuv Province Wolfram Mine. It also acquired the Xinjiang silver and copper mining project located in Xinjiang Uyghur Autonomous Region. On September 25, 2007, the Company acquired 51 percent equity interest in China Reservoir Mining Limited (CRML). CRML is engaged in exploration and mining of molybdenum and wolfram.