Mr. Chris Thomas reports

JINHUA CLOSES FINAL TRANCHE OF PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT FOR COMBINED GROSS PROCEEDS OF $1,468,999

Jinhua Capital Corp., further to its news release dated Nov. 6, 2023, has closed the second and final tranche of the offering, and has received gross proceeds of $248,000 by the issuance of 4,133,334 flow-through units. The FT units were issued at six cents per FT unit. Combined with the first tranche, the aggregate gross proceeds of the offering were approximately $1,468,999.

Each FT unit consists of one flow-through common share of the company, as defined in the Income Tax Act (Canada), and one-half of a common share purchase warrant. Each whole FT warrant will entitle the holder to purchase one additional non-flow-through common share in the capital of the company at a price of 10 cents per FT warrant share for a period of 18 months from the closing of the offering, subject to acceleration of the expiry date to 15 days in the event that the price of the company's common shares close at or above 25 cents for 10 consecutive trading days.

The second tranche's gross proceeds raised from the issuance of the FT units will be used by the company to incur exploration expenditures on the company's resource claims in the province of Quebec and will constitute critical mineral Canadian exploration expenses, as defined in the Income Tax Act (Canada).

The company has paid $19,840 in finders' fees to eligible finders in connection with the second tranche, being 8 per cent of the aggregate proceeds from the sale FT units to subscribers introduced by such finders. The company has also issued 165,333 finders warrants and 165,333 finders shares, each representing 4 per cent of the aggregate proceeds from the sale of FT units to subscribers introduced by such finders. Each finders warrant shall entitle the holder thereof to purchase one additional common share at a price of 10 cents for 12 months from the closing of the offering.

The securities issued in the second tranche of the offering are subject to a four-month-and-one-day hold period, expiring on March 30, 2024.

About Jinhua Capital Corp.

Jinhua is a mineral exploration company focused on exploring the Pluto gold and base-metals property located in the Dolomieu and Daubree townships of Quebec, and the Indigo graphite project in the Saint-Michel-des-Saints municipality of Quebec. From time to time, the company may also evaluate the acquisition of other mineral exploration assets and opportunities.

We seek Safe Harbor.