TORONTO, Aug. 29, 2012 /CNW/ – Yanggu Xiangguang Copper Co. Ltd. (“XGC“) announces that it has closed the previously announced transaction
with EMED Mining Public Limited (the “EMED“) pursuant to which XGC’s direct, wholly-owned subsidiary, Hong Kong
Xiangguang International Holdings Limited, agreed to subscribe for
32,247,662 ordinary shares in the capital of EMED (the “Subscription“) pursuant to the subscription agreement dated July 7, 2012 (the “Subscription Agreement“). The purchase price was ten pence per ordinary share (approximately
CDN$ 0.158). XGC acquired beneficial ownership of 32,247,662 ordinary
shares of EMED which constitute approximately 3.11% of the outstanding
ordinary shares of EMED based on there being 1,004,603,009 ordinary
shares of EMED in issue based on the TSX website on August 28, 2012.
As a result, XGC has beneficial ownership of 137,626,181 ordinary
shares of EMED which constitute approximately 13.27% of the outstanding
ordinary shares of EMED.

XGC intends to review its investment in EMED on a continuing basis.
Depending on various factors, including, without limitation, EMED’s
financial position, the price levels of the ordinary shares of EMED,
the conditions in the securities markets and general economic and
industry conditions, XGC’s business or financial condition and other
factors and conditions XGC deems appropriate, XGC may in the future
take such actions with respect to its investment in EMED as XGC deems
appropriate, including, without limitation, making proposals to EMED
concerning changes to the capitalization, ownership structure or
operations of EMED, acquiring ordinary shares of EMED or selling,
transferring to an affiliated party or otherwise disposing of some or
all of the ordinary shares of EMED, in each case subject to applicable
laws and the terms of the agreements with EMED. In addition, XGC may
formulate other purposes, plans or proposals regarding EMED or any of
its securities to the extent deemed advisable in light of general
investment and trading policies, market conditions or other factors or
XGC may change its intention with respect to any and all matters
referred to above.

About Yanggu Xiangguang Copper Co. Ltd.

XGC is one of the world’s largest Copper smelting, refining and
processing group located in Shandong province of China, with a designed
smelting capacity of 450,000mt/y Cu from concentrate and refining
capacity of 600,000mt/y Copper cathodes. It employs the state-of-art
copper smelting technology of double flash smelting and converting.
XGC’s parent company, GMK Holding Co., Ltd (“GMK“), is a leading privately owned enterprise group in China including
significant food production interests.

SOURCE Yanggu Xiangguang Copper Co. Ltd.