ANNOUNCEMENT: The Board of Directors of N-Mining has resolved to cease financing the company’s subsidiaries within the Russian Federation with immediate effect. Although our activities in the country have been limited to geological research, as a company we have always strived to be proactive in our approach to our legal and ethical obligations. N-Mining has engaged international legal counsel to undertake a comprehensive assessment of its activities in the region with particular attention given to the effect of any international sanctions. The board will rely on the findings of the assessment to make decisions as to its future strategy and the reallocation of resources into other jurisdictions.