Siberian Mining (HKG:1142) said that the investor and it have agreed to terminate the agreement dated 17 June 2011 in relation to the equity line of credit and the option by entering into an agreement of termination with effect from 6 January 2012, in view of the prevailing share price of Siberian Mining is substantially below the threshold price of HK$1.8.

In response to the termination, the share lender and the investor also mutually agreed to terminate the related share lending agreement dated 17 June 2011 by entering into an agreement of termination also with effect from 6 January 2012.