media release

MEDIA RELEASE

“The Deputy General Manager of CRR, Mr. Zhao Quingyun said today that his company had written to the Managing Director of Jervois Mining Limited (JRV) again requesting JRV to refund the US$1 Million previously advanced to JRV as part of the provisions of a Frame Agreement between the two companies and another Chinese company.



据中铁资源副总经理赵庆云先生今天介绍，中铁资源有限公司早已致函JRV公司常务董事邓肯先生要求返还之前根据中铁资源、JRV公司和另外一家中国公司三方签订的框架协议而支付的100万美元。



The Frame Agreement provided that this advance payment was returnable to CRR by JRV in the event that a proposed final co-operation agreement between the two companies failed to be finalised by 31 October, 2008. Although CRR urged JRV to reimburse the payment many times, JRV not only refused to do so but also put all the blame on CRR in several rude announcements. CRR did not fight back because CRR believes that the public and the investors will not buy JRV’s one side statement. CRR has sufficient evidence to prove itself. And court is the only place to clarify justice.(Court is the only place to reason with JRV )



由于在2008年10月31日之前未能签署正式合作协议，中铁资源已支付的100万美元应返还中铁资源。尽管中铁资源早些时候曾经要求JRV返还该笔款项，但是JRV拒绝这么做。不仅如此，JRV在此后的多次公告中态度非常蛮横，将全部责任都推在了中铁资源身上。中铁资源对此并没有做出回应，因为中铁资源坚信，社会公众和JRV的投资人不会听JRV的一面之词，中铁资源可以有充分证据证明自己。需要说理的地方是在法庭上。



Mr Zhao has made it clear that CRR will proceed in the appropriate Australian courts to recover the 1million USD if JRV does not return the 1million USD as soon as possible.

赵庆云先生明确表示，JRV公司如果不尽快返还100万美元，中铁资源将通过法律程序来追索该款项。



He added that CRR will claim the damages if JRV refuses to return the payment initiatively.

如果JRV不主动返还，中铁还有可能提出进一步的索赔。

Mr. Zhao also said that CRR addressed JRV recently in which CRR demand both sides choose dispute resolution institution through consultation. By doing so CRR intends to show its manner and offers JRV the last chance to return the payment.

中铁资源已于近日再次致函JRV，要求协商确定双方的争议解决机构。中铁资源之所以发出此函，是出于礼貌，同时也是给JRV最后一次主动还款的机会。



Authorised by Mr. Zhou Quingyun, Deputy General Manager

CRR,

Melbourne …….. March 2009

墨尔本 2009年3月