Phoenix Gold Limited

Zijin Mining Group Co., Ltd (SHA:601899) (HKG:2899), one of China's largest gold miners, announces today its intention to make an off-market takeover offer for Phoenix Gold Limited (ASX:PXG).

Asian Activities Report for December 5, 2011 includes: Chow Tai Fook Jewellery Group Ltd. is preparing to launch what may become Hong Kong's biggest initial public offering in 2011; Nissan Motor Co., Ltd. (TYO:7201) announces that its 100% electric Nissan LEAF has won the Car of the Year Japan 2011-2012 award at the 42nd Tokyo Motor Show; Exoma Energy Limited (ASX:EXE) confirms that its recent Katherine-1 well in the Galilee Basin in Central Queensland has the potential to be a significant onshore oil resource; Phoenix Gold Limited (ASX:PXG) announces the results of its latest drill programme completed at the Castle Hill Project in the Goldfields region of Western Australia.

Asian Activities Report for October 4, 2011 includes: Bulk minerals explorer Sheffield Resources Limited (ASX:SFX) today announced high grade talc results from drilling at its Moora Talc Belt project in Western Australia; Lochard Energy Group Plc (ASX:LHD) said today that remapping work at the Thunderball prospect on UK North Sea block 14/26b has identified more recoverable resources; Phoenix Gold Limited (ASX:PXG) announced the results of its latest drill programme completed at the Broads Dam Gold Project in Western Australia; NSL Consolidated Ltd (ASX:NSL) said today that construction phase has commenced on its US$2.3 million iron ore beneficiation project in India; GAIL (India) Ltd (BOM:532155) has recently acquired its first shale gas assets in the USA.

Asian Activities Report for June 1, 2011 includes: Phoenix Gold Limited (ASX:PXG) has doubled the Mineral Resource estimate for its Castle Hill gold project to 526,000 oz; Zamia Metals Limited (ASX:ZGM) announced more high grade molybdenum from the southern zone of the Anthony molybdenum deposit in central Queensland; Centaurus Metals Limited (ASX:CTM) confirmed that its Jambreiro Iron Ore Project can produce high-grade hematite products; Hazelwood Resources Limited (ASX:HAZ) has commenced the final design criteria test work for its 100%-owned Big Hill Tungsten Deposit in Western Australia.

Asian Activities Report for May 11, 2011 includes: Adavale Resources Limited (ASX:ADD) signed a Joint Venture agreement to explore and mine for coal in Indonesia; Sheffield Resources Limited (ASX:SFX) reported high grade iron results from Pilbara Iron projects; Scandinavian Resources Limited (ASX:SCR) updated on Kiruna Iron Project in Sweden; Phoenix Gold Limited (ASX:PXG) has completed its second drill program at the Rayjax deposit, part of the Kunanalling Gold Project.