Proposed Change of Name and Board Changes

China Nonferrous Gold

30/09/2013 14:55

Proposed Change of Name and Board Changes

      Kryso Resources

      30 September 2013

      Kryso Resources Corporation Limited

      (??Kryso?? or the ??Company??)

      AIM: KYS

      PROPOSED CHANGE OF NAME AND BOARD CHANGES

      Kryso Resources Corporation Limited (AIM: KYS), the mineral exploration       and development company currently developing the Pakrut gold project in       the Republic of Tajikistan, is pleased to announce that as part of the       Company??s strategy for the proposed listing of the shares of the Company       on the main board of the Stock Exchange of Hong Kong Limited, the Board       has decided to change the name of the Company to China Nonferrous Gold       Limited, subject to the approval of the Company??s shareholders. China       Nonferrous Metals Int??l Mining Co., Ltd. (??CNMIM??) is the largest       shareholder of Kryso Resources Corporation Limited, the holders of the       majority of the Company??s shares are from the People??s Republic of China       and Kryso has other strong Chinese ties. A circular will be sent to       shareholders in due course providing details of a general meeting at       which approval of the name change will be sought.

      The Company also today announces that Mr Weili Tang (David Tang) has       been appointed Managing Director of Kryso Resources Corporation Limited.       Mr Tang is President of CNMIM and currently a non-executive director of       Kryso. He graduated with a Bachelor of Science degree (1988) majoring in       computer science from Central-South University, China and also holds a       Master of Science degree (1991). In the early 1990s he pioneered the       trading system for the first nonferrous metals future commodity exchange       in China. He worked for several years in Canada in the investment       management and consulting industry before returning to China to take up       office at CNMIM since 2003. Mr Craig Brown has resigned, with immediate       effect, from the board of the Company to pursue other business       opportunities. The board of the Company would like to thank Mr Brown,       who was a founding director and shareholder of the Kryso Group, for his       contribution to the development of Kryso and its projects, and wishes       him every success with his future endeavours. Kryso is pleased to advise       that, in order to effect an orderly transition of his responsibilities       and to assist the Board with various tasks, Mr Brown will continue to       work with the Company as a consultant until the Company has completed       its proposed listing on the main board of the Hong Kong Stock Exchange.

      The Company is also pleased to announce that it has appointed Mr Che       Pizhao as a non-executive director of the Company with immediate effect.       Mr Che (aged 56) graduated from the Law School of Wisconsin University       and served as Professor of International Economic Law in the Law School       of Tsinghua University. Mr Che also currently holds the positions of       Deputy President of China International Economic Law Research, Deputy       President of the China International Economic Law Society, and Executive       Vice President of China International Law Society. Mr Che is also a       member of the committee of Lawyer Review Oversight International Chamber       of Commerce China National Committee (??ICC China??), Beijing Arbitration       Committee, China International Economic Trade Arbitration Committee,       Singapore International Arbitration Centre, Republic Business Federation       International Court of Arbitration in Kazakhstan, and the Kuala Lumpur       Arbitration Centre. In March 2012 Mr Che was appointed a non-executive       director of Fangda Carbon, which is listed on the Shanghai Stock       Exchange. Excluding the above disclosure, he has not held any other       director or partner positions in the past five years and there are no       further disclosures required to be made for the purposes of paragraph       (g) of Schedule Two to the AIM Rules.

      ENDS

      For further information please visit the Company??s website (www.kryso.com)       or contact:

      Kryso Resources Corporation Limited

      David Tang, Managing Director

      Leonard Li, Finance Director

      Tel: +44 (0)20 7349 9160

      Tel: +86 10 8442 6681

      Investec Bank Plc

      Jeremy Ellis, Chris Sim, George Price

      Tel: +44 (0)20 7597 5970

      XCAP Securities Plc

      Jon Belliss, Guy Peters

      Tel: +44 (0) 207 101 7070

      Blythe Weigh Communications

      Paul Weigh, Halimah Hussain

      Tel: +44 (0)20 7138 3204

      Project Summary

      The Pakrut gold project, of which Kryso has 100 per cent ownership, is       situated in Tajikistan approximately 120km northeast of the capital city       Dushanbe. Pakrut has estimated total JORC compliant resources of       4,720,000 oz Au (assuming a cut-off grade of 0.5 grams per tonne of       gold) and is located within the Tien Shan gold belt, which extends from       Uzbekistan into Tajikistan, Kyrgyzstan and Western China, and which       hosts a number of multi-million ounce gold deposits.

      Kryso is currently in a construction phase with mining contractors on       site developing the underground mine and surface infrastructure. Kryso       has completed building a number of new bridges and roads up to site.       Infrastructure construction began in October 2011 and construction of       the mine commenced in September 2012. At the same time exploration is       continuing with four drill rigs currently operating in the Pakrut       Licensed Area drilling at Eastern Pakrut, Rufigar and Sulfidnoye.

      About Tajikistan

      Tajikistan is a secular republic located in Central Asia. The country is       a member of the Commonwealth of Independent States and the Shanghai       Cooperation Organisation. Tajikistan hosts numerous operating precious       metal mines as well as the largest aluminium smelter in Central Asia.       Kryso's management team has extensive experience in the mining industry       in Tajikistan.