SouthGobi Resources Ltd. announced that Mr. Zaixiang Wen has been appointed as a non-executive Director of the Company, with effect from May 17, 2023. Mr. Zaixiang Wen, aged 47, has over 20 years' of experience in corporate management and financial management. He possesses a comprehensive understanding of the coal industry and the capital market.

He has been the Vice President of Mengfa Energy Holdings Group ("Mengfa Group") since January 2018, where he is responsible for overseeing the group's strategic development, capital operations, investment and financing, public affairs relations, and real estate development. Mr. Wen joined the Mengfa Group in 2002 and has held various leadership positions within the subsidiaries of Mengfa Group. Prior to joining Mengfa Group, he worked as an accounting and finance professional in various energy resources companies.

Mr. Wen obtained a diploma in accounting from Inner Mongolia Yike Zhao League School of Finance and Economics in 1996. He completed a certificate in financial management at the Central University of Finance and Economics in 2018.