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Arehada Updates Sale of Chinese Operating Company

Arehada Mining Limited (AHD-H.V) has received confirmation of the tax rate applicable to the proceeds of the sale by Arehada's wholly-owned subsidiary, Arehada (Barbados) Corporation, of all of the shares it held in Arehada's Chinese operating company, to Shanjin Mining Corporation, a Shandong based Chinese mining company, pursuant to an agreement dated February 11, 2010. The applicable tax rate will be 10%.

Arehada is now making a submission to the local tax authority with respect to the amount of the taxable assets, which is expected to be approximately RMB 802 million.

The company intends to call a special meeting of shareholders as soon as practicable following the approval of the tax return to ratify the sale.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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