Newton Resources Ltd. announced the appointment of Mr. Chen Hongyuan as a non-executive Director with effect from 27 October 2023. Mr. Chen, aged 44, graduated from the University of Science and Technology Beijing with a bachelor's degree in Accounting. He is currently the general manager of the corporate finance department of Shougang Holding (Hong Kong) Limited.

He has extensive experience and knowledge in the field of financial management and capital market. From July 2016 to March 2022, he served as a senior vice president and a deputy general manager of the corporate finance department in Beijing Shougang Fund Co. Ltd. Concurrently, he had also been designated as the financial controller of each of Beijing-Hebei Co-development Exhibition Zone (Tangshan) Fund Management Co.

Ltd. (now known as Shoucheng Rongshi (Beijing) Fund Management Co. Ltd.) and Beijing Vstartup Investment Development Co. Ltd. (now known as Beijing Vstartup Co.

Ltd.). Both Shougang Fund and Shougang Hong Kong are wholly-owned subsidiaries of Shougang Group Co. Ltd., which is a substantial shareholder of the Company (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as at the date of this announcement.

Mr. Chen has entered into a letter of appointment with the Company for his appointment as a non-executive Director for a term of three years commencing from 27 October 2023, subject to retirement by rotation and re-election at the annual general meetings of the Company pursuant to the Company's articles of association. Such letter of appointment may be terminated by service of not less than three months' notice in writing by either party.