I. Project Overview

Laos Service Mining Co., Ltd. (LSM in short) is a joint venture established under a cooperation agreement signed in March 2011 between Hong Kong branch of Chinalco and Laos Service Inc. (LSI). It is registered in Pakse, Champasak Province, which is held 60% by the former and 40% by the later.

LSM owns two mining right areas, covering 291m2 in addition to a gold and copper polymetallic mining area, covering 530m2 ; the three mining right areas are located in the junction of Attapeu Province and Se Kong Province in the southern Laos. The exploration work at the earlier stage of the mining rights areas are scarce, which lacks systematic engineering control and sample analysis and yielded no information on the spatial distribution, scale, occurrence, formation and ore qualities, etc. of the orebody except for a few geological data obtained from a small number of mountain engineering. Those materials are of minor significance for the development and comprehensive utilization of mineral resources. For this reason, the joint venture considered it is necessary to conduct systematic and effective resource exploration work on the three mineral areas. As of to date, those exploration work have been in orderly progress, and have obtained some results. Preliminary survey and exploration to delimitate orebody has been concluded on two of the bauxite mining areas, and a complete bauxite exploration report is also completed.

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