GobiMin Signs Definitive Sales and Purchase Agreement To Sell its Chinese Nickel Properties
Subsequent to the two revocable framework agreements signed on November 1, 2008 and the press release published on November 3, 2008, GobiMin Inc. announce that it has entered into two definitive Sale and Purchase Agreements with Xinjiang Xinxin Mining Industry Co., Ltd. to dispose of its three nickel-copper mining properties, namely Yellow Mountain East, Xiangshan and Yellow Mountain, in Hami, Xinjiang Uygur Autonomous Region (“Xinjiang”) of the People’s Republic of China (“China”). The transaction (the “Transaction”) will be facilitated by the sale of its respective entire 93.55% and 95.16% equity interests in the two Chinese subsidiaries, Xinjiang Yakesi Resources Co. Ltd. (“Yakesi”) and Hami Jubao Resources Co. Ltd (“Jubao”) through its wholly owned subsidiary, Alexis Investments Limited (“Alexis”). Xinxin, based in Xinjiang, is China’s second-largest nickel producer. Its “H” shares have been listed on The Stock Exchange of Hong Kong Limited since 2007.
Details of the three nickel-copper mining properties can be found on GobiMin website at www.gobimin.com and in previous press releases.
