China Silver : CHANGE OF EXECUTIVE DIRECTOR AND CHANGE OF CHIEF FINANCIAL OFFICER, COMPANY SECRETARY AND AUTHORISED REPRESENTATIVE

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CHINA SILVER GROUP LIMITED

中 國 白 銀 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 815)

CHANGE OF EXECUTIVE DIRECTOR

AND

CHANGE OF CHIEF FINANCIAL OFFICER, COMPANY SECRETARY AND AUTHORISED REPRESENTATIVE

RESIGNATION OF EXECUTIVE DIRECTOR

The board of directors (the "Board") of China Silver Group Limited (the "Company") announces that Mr. Chen Guoyu（陳國裕）("Mr. G Chen") has resigned from his position as an executive director of the Company due to health reasons, with effect from 17 June 2019.

Mr. G Chen has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company (the "Shareholders").

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Liu Jiandong（柳建東）("Mr. Liu") has been

appointed as an executive director of the Company with effect from 17 June 2019.

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Mr. Liu, aged 47, has served as the chairman of Zhejiang Guoyin Cornerstone Investment Co., Ltd.（浙江國銀基石投資有限公司）, an investment firm based in Jingning She Autonomous County, Lishui City, Zhejiang Province, the People's Republic of China (the "PRC") since May 2017. Prior to that, he worked at various companies in the PRC commerce and industry sector for over two decades, such as being an executive director of Hangzhou Runshi Technology Co., Ltd.（杭州潤石科技有限公司）from September 2015 to May 2017, and the chief executive of Zhejiang Lishi Industrial Co., Ltd.（浙江力石實業有限公司） from November 2009 to September 2015. He received a junior college degree（專科學歷）in business administration from the School of Modern Distance Education of Beihang University （北京航空航天大學現代遠程教育學院）, the PRC in July 2014.

Mr. Liu has entered into a director service contract with the Company for a term of three years commencing from the date of his appointment. His directorship is subject to retirement by rotation and re-election in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Company's articles of association. Mr. Liu is entitled to an annual director's fee of RMB500,000 pursuant to the director service contract. Mr. Liu's remuneration has been determined with reference to his duties and responsibilities in the Company, the prevailing market rate and the remuneration policy of the Company and has been reviewed and approved by the remuneration committee of the Company.

As at the date of this announcement, Mr. Liu does not (i) have any relationship with any director, senior management, substantial shareholder or controlling shareholder of the Company; (ii) hold any directorship in any other listed company in the last three years; (iii) hold any other position in the Company or any of its subsidiaries; or (iv) have any interest in the shares of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

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Save as disclosed above, there is no other information in respect of the appointment of Mr. Liu that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules, nor is there any other matter that needs to be brought to the attention of the Shareholders in connection with his appointment.

RESIGNATION OF CHIEF FINANCIAL OFFICER, COMPANY SECRETARY AND AUTHORISED REPRESENTATIVE

The Board announces that Mr. Yan Ho Yin（忻浩賢）("Mr. Yan") has resigned from his positions as the chief financial officer, the company secretary and an authorised representative (under Rule 3.05 of the Listing Rules and Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong)) ("Authorised Representative") of the Company due to his desire to pursue other career opportunities, with effect from 17 June 2019.

Mr. Yan has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the Shareholders.

APPOINTMENT OF CHIEF FINANCIAL OFFICER, COMPANY SECRETARY AND AUTHORISED REPRESENTATIVE

Following the resignation of Mr. Yan, the Board is pleased to announce that Mr. Chan Hon To（陳瀚濤）("Mr. Chan") has been appointed as the chief financial officer, the company secretary and an Authorised Representative of the Company with effect from 17 June 2019.

Mr. Chan, aged 43, is a Fellow Member of the Association of Chartered Certified Accountants and a Certified Public Accountant of the Hong Kong Institute of Certified Public Accountants. Since May 2019, he has served as the chief financial officer of CSMall Group Limited (stock code: 1815) ("CSMall"), a non-wholly-owned subsidiary of the Company. He has over 20 years of experience in auditing, accounting, corporate finance, investor relations, fund raisings and company secretaryship. Prior to joining the Company and CSMall, he held senior management positions as vice president for strategic investment, chief financial officer and group financial controller in several listed companies in Hong Kong. He has also gained extensive experience in auditing and initial public offering exercise during his service with Deloitte Touche Tohmatsu in Hong Kong and the United States of America from 2002 to 2009. Following the appointment of Mr. Chan, he is responsible for the overall financial management, tax, treasury, investor relations, corporate finance and company secretarial matters of the Company.

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ACKNOWLEDGEMENTS

The Board takes this opportunity to acknowledge Mr. G Chen's and Mr. Yan's contributions to the Company during their respective terms of office with the highest regard and deepest gratitude, and also extends its welcome to Mr. Liu and Mr. Chan on their appointments.

By order of the Board

China Silver Group Limited

Chen Wantian

Chairman

Hong Kong, 17 June 2019

As at the date of this announcement, the executive directors of the Company are Mr. Chen Wantian, Mr. Song Guosheng and Mr. Liu Jiandong; and the independent non-executive directors of the Company are Mr. Song Hongbing, Dr. Li Haitao and Dr. Zeng Yilong.

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