Gulf Resources informs investors about the construction of its new chemical plant in Yuxin

Gulf Resources, Inc.

SHOUGUANG, China, Oct. 14, 2022 (GLOBE NEWSWIRE) — Gulf Resources, Inc. (Nasdaq: GURE) (“Gulf Resources” or the “Company”), a leading manufacturer of bromine, crude salt and specialty chemicals in China today informed investors of the construction of its new chemical plant in Yuxin.

As Gulf previously announced, construction of this plant has been delayed due to supply chain disruption as well as COVID protocols in China. Although delays continue and COVID restrictions are still in place, the Company believes it is making progress with the construction of this plant.

The Company has posted photographs on its website (http://www.gulfresourcesinc.com) showing the most recent construction progress at its plant site as well as the delivery of certain equipment, including vacuum water jet, the screw vacuum cleaner and the closed vacuum cleaner. water ring vacuum equipment. The Company expects delivery of the remaining equipment, including waste water and waste gas treatment equipment. Once all the equipment has been delivered, the Company expects to be able to install the equipment and complete the construction.

Once all equipment has been delivered, installed and construction is complete, the company expects to obtain government approvals, including safety and environmental protection approval, and then begin construction. equipment testing and trial production. The Company expects to take an additional 6-8 months to complete the process.

Gulf Resources may continue to inform its investors of developments at the Yuxin chemical plant.

About Gulf Resources, Inc.

Gulf Resources, Inc. operates through four wholly owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited (“SCHC”), ShouguangYuxin Chemical Industry Co., Limited (“SYCI”), Daying County Haoyuan Chemical Company Limited (” DCHC”) and Shouguang Hengde Salt Industry Co. Ltd. (“SHSI”). The Company believes that it is one of the largest bromine producers in China. Elemental bromine is used to make a wide variety of compounds used in industry and agriculture. Through SYCI, the Company manufactures chemicals used in various applications, including oil and gas field exploration and chemical agents for papermaking, as well as materials for human and animal antibiotics. Through SHSI, the Company manufactures and sells raw salt. DCHC was established to explore and further develop natural gas and brine resources (including bromine and raw salt) in China. For more information, visit www.gulfresourcesinc.com.

Forward-looking statements

Certain statements in this press release contain forward-looking information about the businesses and products of Gulf Resources and its subsidiaries within the meaning of Rule 175 of the Securities Act of 1933 and Rule 3b-6 of the Securities Exchange Act of 1934, and are subject to the safety zone created by these rules. Actual results may differ materially depending on a number of risk factors, including but not limited to general economic and business conditions in the PRC, future product development and production capabilities, deliveries to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power generation chemicals, changes in technology, the ability to to make future purchases of bromine assets and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risk factors detailed in the company’s reports filed with the Securities and Exchange Commission. Gulf Resources assumes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

CONTACT: CONTACT: Gulf Resources, Inc. Web: http://www.gulfresourcesinc.com Director of Investor Relations Helen Xu (Haiyan Xu) [email protected]