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"Canada can, within a positive friendly atmosphere, ask the Chinese government to resolve the Tibetan situation."

South China Resources withdraws from Tibet talks, ceases China operations

December 24, 2007

Hemscott, UK
December 22, 2007

LONDON (Thomson Financial) - South China Resources PLC said it will not
proceed with further talks to acquire a 53 pct stake in the Zhunuo
copper project in Tibet, China, blaming increased regulatory resistance
to foreign investment in nationally significant and strategic metal

The company said, after reviewing many other potential mining
acquisitions and relationships in China in 2007, it has determined that
in all cases the price expected by vendors relative to the quality of
projects did not warrant further investment.

Therefore, it is terminating its remaining relationships in China, the
company said.

South China Resources is planning to pursue a new investing strategy in
Southern Africa and the strategy will now be to make investments in the
mining and minerals sector, it added.
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