Silver47 Completes Red Mountain Summer Drilling, Reports Approximately 197m of Visually Observed Sulphide Mineralisation

Chengtun Mining announced in an evening filing that its subsidiary Sichuan Shengfengyuan Mining Co., Ltd. plans to acquire 65% equity in Tibet Haiteng Industrial Co., Ltd. (hereinafter referred to as "Tibet Haiteng Industrial") held by Liu Zongjun for 708.5 million yuan. Upon completion of the transaction, Tibet Haiteng Industrial will become a controlled subsidiary of the company and be included in the company's consolidated financial statements. According to the announcement, Tibet Haiteng Industrial holds the exploration right for the "Bagala (East) Lead-Zinc Mine Exploration in Mozhugongka County and Linzhou County, Lhasa, Tibet." The right was first established in 2003 and has undergone multiple renewals and changes. The new license was issued on August 28, 2026, with a validity period from July 28, 2026 to July 27, 2031, covering an exploration area of 42.0668 square kilometers. According to the exploration report issued by the Northwest Geological Exploration Institute of China Metallurgical Geology Bureau on September 30, 2025, in addition to lead and zinc resources, the identified silver metal content has reached the standard for a large-scale silver mine in China. The company stated: The silver metal content of the silver-lead-zinc mine to be acquired has reached the scale of a large deposit, while lead and zinc are both medium-sized deposits. The grades of silver, lead, and zinc are moderate, and the ore quality is relatively good. Upon completion of the acquisition, the company's resource ownership of silver, lead, zinc, and other metals will be effectively increased, further optimizing the company's mineral resource portfolio, expanding future development space, and enhancing core competitiveness and risk resilience. The acquisition aligns with the company's long-term development strategy, is conducive to consolidating the company's comprehensive competitive strength in the non-ferrous metals mining sector, and serves the long-term and overall interests of the company and all shareholders.

[Tianjin Zinc: Zinc Prices Too High, Market Sees Almost No Transactions] In the Tianjin market, mainstream transactions of #0 zinc ingot were concluded at 27,210-27,530 yuan/mt, with Zijin transactions at 27,480-27,630 yuan/mt. #1 zinc ingot transactions were concluded at around 27,230-27,390 yuan/mt. Zijin was quoted at a premium of 130 yuan/mt against the 2610 contract, while Huxin was quoted at 28,675 yuan/mt. #0 zinc ingot was quoted at a discount of 0-150 yuan/mt against the 2610 contract. The Tianjin market was quoted at a discount of around 45 yuan/mt against the Shanghai market.

[Guangdong: High prices continue to affect demand in Guangdong, with market transactions mostly driven by rigid demand] Mainstream transactions of Guangdong 0# zinc were at 27,265-27,410 yuan/mt, with mainstream brands quoted at a discount of 90-80 yuan/mt against the 2610 contract, a premium of 10 yuan/mt against Shanghai spot cargo, and the Shanghai-Guangdong price spread remained...