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<SEC-DOCUMENT>0001193805-09-000181.txt : 20090129
<SEC-HEADER>0001193805-09-000181.hdr.sgml : 20090129
<ACCEPTANCE-DATETIME>20090129172614
ACCESSION NUMBER:		0001193805-09-000181
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090129
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090129
DATE AS OF CHANGE:		20090129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GULF RESOURCES, INC.
		CENTRAL INDEX KEY:			0000885462
		STANDARD INDUSTRIAL CLASSIFICATION:	CHEMICALS & ALLIED PRODUCTS [2800]
		IRS NUMBER:				133637458
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20936
		FILM NUMBER:		09555343

	BUSINESS ADDRESS:	
		STREET 1:		CHEMING INDUSTRIAL PARK
		STREET 2:		UNIT - HAOYUAN CHEMICAL COMPANY LIMITED
		CITY:			SHOUGUANG CITY, SHANDONG
		STATE:			F4
		ZIP:			262714
		BUSINESS PHONE:		(310) 470-2886

	MAIL ADDRESS:	
		STREET 1:		CHEMING INDUSTRIAL PARK
		STREET 2:		UNIT - HAOYUAN CHEMICAL COMPANY LIMITED
		CITY:			SHOUGUANG CITY, SHANDONG
		STATE:			F4
		ZIP:			262714

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIVERSIFAX INC
		DATE OF NAME CHANGE:	19940331
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Financial Condition, and Item 7.01 - Regulation FD Disclosure:</font></div>
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October 16, 2008, Gulf Resources, Inc. issued a press release announcing
increased customer orders for Q4 as compared to Q3 and providing a statement
revising certain financial guidance with respect to its net income for fiscal
year 2008. A copy of such press release is attached to this report as Exhibit
99.1 and is incorporated herein by reference.</font></div>
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in April 2007, Gulf Resources, Inc. (the &#8220;Company&#8221;) entered into five asset
purchase agreements to acquire assets located in Shandong province in the
People&#8217;s Republic of China (the &#8220;Asset Acquisitions&#8221;).&#160;&#160;The following
table provides a summary of certain disclosures made by the Company on Forms 8-K
regarding the Asset Acquisitions.</font></div>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certain
      assets owned by Mr. Wenbo Yu located in the Shougang City Qinshuibo Area
      (the &#8220;Qinshuibo Assets&#8221;).The Qinshuibo Assets include a 50 year mineral
      rights and land lease covering 1,846 acres, or 7.5 square kilometers of
      real property. The Qinshuibo Assets acquired also include the 575 wells
      and the related production facility, the pipelines, other production
      equipment, and the buildings located on the property.</font></div>
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      facility is currently producing approximately 3,500 tons of bromine
      annually, which equates to $6.5 million in revenues at current market
      prices. Gulf Resources will implement a new processing facility and
      associated pipelines during 2007. These improvements are budgeted at
      approximately $1 million and are expected to initially increase the annual
      bromine production output to 4,700 tons, ultimately reaching 5,300 tons
      during 2008. In addition, the Company estimates the property will yield
      approximately 125,000 tons of annual crude salt production, adding $1.3
      million in incremental revenue potential.</font></div>
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      acquisition of Shouguang City Qinshuibo Area is expected to ultimately
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      percent, to over 15,000 tons annually and be accretive to 2007 earnings,"
      stated Ming Yang, CEO, Gulf Resources, Inc. This acquisition is consistent
      with our strategic plan to acquire other local bromine producers and their
      reserves, while increasing output by expanding and improving production
      facilities. We will leverage our valuable production and distribution
      licenses, while leveraging economies of scale and a stronger distribution
      platform for future margin enhancements. The fifty year lease has been
      paid in full and significantly increases our total bromine reserves and
      crude salt production capabilities."</font></div>
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                  <tr>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Item
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                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      assets owned by Mr. Donghua Yang locate in the Dong Ying City Liu Hu Area
      (the &#8220;Liu Hu Assets&#8221;). The Liu Hu Assets include a 50-year mineral rights
      and land lease covering 2,317.85 acres, or 9.38 square kilometers of real
      property. The Liu Hu Assets acquired also include the 405 wells and the
      related production facility, the pipelines, other production equipment,
      and the buildings located on the property.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      key asset includes a 50-year property lease covering approximately 2,318
      acres, or 9.38 square kilometers, which is located in close proximity to
      SCHC.&#160;&#160;The lease is paid in full through maturation on April 30,
      2052. The property maintains proven reserves of approximately 235,000 tons
      of bromine. Additional assets to be conveyed in this purchase include the
      existing bromine production infrastructure, wells, pipelines, power
      circuits, and other equipment, as well as the existing buildings on the
      property. The property and assets carry a book value of approximately $7.5
      million, which management believes is approximately seventy percent of the
      current market value.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      facility is currently producing approximately 3,700 tons of bromine
      annually, which equates to $6.85 million in revenues and $1.8 million in
      net income at current market prices and is operating at 69 percent
      capacity utilization. Gulf Resources plans to invest approximately $3.3
      million in new equipment and property improvements during 2007. These
      improvements are expected to increase overall production output by 21.6
      percent to more than 4,500 tons of bromine annually with a target plant
      utilization rate of between 84 to 89 percent.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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        <div>
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            <div align="center">
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                  <tr>
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                    </td>
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                    <td valign="bottom" width="46%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Disclosure</font></font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      25, 2007</font></div>
                    </td>
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                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Form
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      31, 2007</font></div>
                    </td>
                    <td align="left" valign="top" width="46%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certain
      assets owned by Mr. Jiancai Wang in the Shouguang City Renjia Area (the
      &#8220;Renjia Assets&#8221;).&#160;&#160;The Renjia Assets include a 50-year mineral
      rights and land lease covering 2,165 acres, or 8.76 square kilometers, of
      real property.&#160;&#160;The Renjia Assets acquired also include the 398
      wells and the related production facility, the wells, the pipelines, other
      production equipment, and the buildings located on the
      property.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Press
      Release attached as Exhibit 99.1 to Form 8-K:</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      assets include a 50-year mineral rights and land lease covering 2,165
      acres through December, 2054, which has been paid in the full. The
      property has 200,000 to 250,000 metric tons of proven bromine reserves.
      Additional assets to be conveyed with the purchase include the related
      production facility, wells, pipelines and other production equipment, in
      addition to the current buildings and other assets on the property. The
      Company executed an asset purchase agreement with Mr. Jiancai Wang, the
      sole owner on October 25, 2007.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      facility is currently operating at 65 percent capacity and produces<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>approximately 3,700
      metric tons of bromine annually through 398 wells, which<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>equates to $6.8
      million in revenues and $1.8 million in net income at current<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>market prices. Gulf
      Resources anticipates making $4.2 million in facility<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>upgrades and capital
      expenditures over a four month period, which are expected<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>to increase capacity
      utilization to 85 percent and increase overall bromine<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>production output to
      4,800 metric tons annually. In addition, the Company<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>estimates the
      property will yield approximately 25,000 metric tons of annual crude salt
      production, equating to $0.33 million in incremental revenue.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                    </td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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            <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          <div id="HDR">
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            </div>
          </div>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div>
          <div align="center">
            <div align="center">
              <table cellpadding="5" cellspacing="0" width="100%">
                  <tr>
                    <td valign="bottom" width="14%" style="BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Date of Acquisition</font></font></div>
                    </td>
                    <td valign="bottom" width="13%" style="BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
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                    </td>
                    <td valign="bottom" width="46%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Disclosure</font></font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      26, 2007</font></div>
                    </td>
                    <td valign="top" width="13%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Form
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      31, 2007</font></div>
                    </td>
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Item
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                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certain
      assets owned by Xingji Liu in the Shouguang City Houxing Area (the
      &#8220;Houxing Assets&#8221;).&#160;&#160;The Houxing Assets include a 50-year mineral
      rights and land lease covering 2,310 acres of real property, with annual
      production of 3,900 tons of bromine. The Houxing Assets acquired include
      the 432 wells and the related production facility, the wells, the
      pipelines, other production equipment, and the buildings located on the
      property.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Press
      Release attached as Exhibit 99.2 to Form 8-K:</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      assets include a 50-year mineral rights and land lease covering 2,310
      acres through Dctober, 2054, which has been paid in the full. The property
      has 210,000 to 270,000 metric tons of proven bromine reserves. Additional
      assets to be conveyed with the purchase include the related production
      facility, wells, pipelines and other production equipment, in addition to
      the current buildings and other assets on the property.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      facility is currently operating at 67 percent of capacity utilization and
      produces approximately 3,900 metric tons of bromine annually through 432
      wells, which equates to $7.2 million in revenues and $1.9 million in net
      income at current market prices. Gulf Resources anticipates making $3.1
      million in total capital expenditures, which will take approximately three
      months to complete from the time of commencement, and is expected to
      increase capacity utilization to 85 percent while increasing overall
      bromine production output to 4,900 metric tons annually. In addition, the
      Company estimates the property will yield approximately 30,000 metric tons
      of annual crude salt production, equating to $0.39 million in incremental
      revenue.</font></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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                  </tr>
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        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
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            </div>
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          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
            </div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
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          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">
            </div>
          </div>
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        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div>
          <div align="center">
            <div align="center">
              <table cellpadding="5" cellspacing="0" width="100%">
                  <tr>
                    <td valign="bottom" width="14%" style="BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Date of Acquisition</font></font></div>
                    </td>
                    <td valign="bottom" width="13%" style="BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
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                    </td>
                    <td valign="bottom" width="46%" style="BORDER-RIGHT: black 0.5pt solid; BORDER-TOP: black 0.5pt solid; BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Disclosure</font></font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="14%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
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      8, 2008</font></div>
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                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      assets owned by Xiaodong Yang located in Wei Fang City Hanting Area (the
      &#8220;Hanting Assets&#8221;).&#160;&#160;The assets acquired include a mineral lease
      covering approximately 2,641 acres, together with the buildings, equipment
      and inventory used in Yang's operations, a facility which has an annual
      estimated bromine production capacity of 4,700 tons. SCHC is not assuming
      and shall not be liable for any and all debts, obligations and liabilities
      of Yang, including without limitation, liabilities relating to the
      Purchased Assets and the Leased Property.</font></div>
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                      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      assets include a 50-year mineral rights and land lease covering 2,641
      acres, or 11 square kilometers through December, 2055, which has been paid
      in the full. The property has 200,000 to 210,000 metric tons of proven
      bromine reserves. Additional assets to be conveyed with the purchase
      include the related production facility, wells, pipelines and other
      production equipment, in addition to the current buildings and other
      assets on the property.</font></div>
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      facility is currently operating at 80 percent capacity and produces
      approximately 4,700 metric tons of bromine annually through 294 wells,
      which equates to $9.4 million in revenues and $2.4 million in net income
      at current market prices. In the future, Gulf Resources plans to increase
      capacity utilization to 85 percent.</font></div>
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Company also disclosed the Asset Acquisitions in the following periodic reports
which were filed with the SEC.</font></div>
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2007</font></div>
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      report on Form 10-Q for the three months ended June 30,
    2008</font></div>
                    </td>
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                    <td align="left" valign="top" width="16%" style="BORDER-LEFT: black 0.5pt solid; BORDER-BOTTOM: black 0.5pt solid">
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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Quarterly
      report on Form 10-Q for the three months ended September 30,
      2008</font></div>
                    </td>
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        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company included disclosure in these Form 8-K and periodic report filings which
contained references to &#8220;approximate annual ideal production capacity&#8221; figures,
&#8220;capacity utilization&#8221; figures and &#8220;production output&#8221; figures for the Asset
Acquisitions.&#160;&#160;These references mistakenly implied that such assets
were then operating at the production capacities, capacity utilization rates and
production output levels specified.&#160;&#160;However, each of these assets was
not in operation when the Company acquired the asset.&#160;&#160;The owners of
each of the assets did not hold the proper license for the exploration and
production of bromine, and production at each of the assets acquired had been
previously halted by the government.&#160;&#160;With respect to the Qinshuibo
Assets, the assets had not been operational for nine months; with respect to the
Liu Hu Assets, the assets had not been operational for eleven months; with
respect to the Renjia Assets and the Houxing Assets, the assets had not been
operational for fifteen months; and with respect to Hanting Assets, the assets
had not been operational for eighteen months.&#160;&#160;Therefore, the
references to production capacity figures, capacity utilization figures and
production output figures should have stated that these figures were estimates
of future production capabilities based on existing facilities and equipment and
amounts of capital expenditure the Company planned for these assets to fund
improvements and make them operational.</font></div>
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form 8-K and periodic report filings also contained references to &#8220;proven and
probable reserves&#8221; of bromine.&#160;&#160;These references were not correct as
the Company does not have any proven and probable reserves.&#160;&#160;The
references to &#8220;proven and probable reserves&#8221; should have been to &#8220;non-reserve
mineralized materials&#8221;.&#160;&#160;Such mineralized material will not qualify as
a reserve until a comprehensive evaluation based upon unit cost, grade and other
material factors conclude both legal and economic feasibility.</font></div>
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addition, in the Company&#8217;s Quarterly Report on Form&#160;&#160;10-Q filed on
November 13, 2007, the Company made the following disclosure in &#8220;Note
2--Management&#8217;s Discussion and Analysis of Financial Condition and Results of
Operations&#8221;:</font></div>
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as a result of the acquisitions of the Qinshuibo Assets, the Liu Hu Assets, the
Renjia Assets and the Houxing Assets combined with the Company&#8217;s 50-year mineral
rights and land lease covering 10,132 acres or 42 square kilometers of real
property, with proven and probable reserves of approximately 776,000 metric tons
and annual production capacity of approximately 10,900 metric tons of bromine,
the Company has proven and probable reserves of approximately 1,699,000 metric
tons and annual production capacity of approximately 26,700 metric tons of
bromine.&#8221;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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sentence of that paragraph should have stated that &#8220; . . . the Company estimates
that, when all of the acquired assets are fully operational, its annual
production capacity will be approximately 26,700 metric tons of
bromine.&#8221;</font></div>
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Company is filing this disclosure on Form 8-K to correct these previous
disclosures about the Asset Acquisitions.</font></div>
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    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01 Financial Statements and Exhibits.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)
Exhibits.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; TEXT-DECORATION: underline">Exhibit
No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; TEXT-DECORATION: underline">Description</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press
Release</font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
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            <tr>
              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="top" width="38%">
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      RESOURCES, INC.</font></div>
              </td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr>
            <tr>
              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr>
            <tr>
              <td align="left" valign="top" width="50%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td valign="top" width="3%" style="BORDER-BOTTOM: #ffffff solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:
      </font></div>
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              <td align="left" nowrap valign="top" width="35%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/&#160;Min
      Li</font></td>
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            <tr>
              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:&#160;</font></td>
              <td align="left" nowrap valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Min
      Li&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:&#160;</font></td>
              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Financial Officer&#160;</font></td>
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            </tr>
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              <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:
      January 29, 2009&#160;</font></td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
Index</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press
Release</font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
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<TEXT>
<html>
  <head>
    <title>Unassociated Document</title>
    <!--Licensed to: Edata Systems, Inc.-->
    <!--Document Created using EDGARizer 4.0.7.0-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gulf
Resources' Receives $23 Million in Q4 Customer Orders, Revises 2008
Guidance</font></div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Oct 16,
2008</font></div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NEW YORK
&amp; SHANDONG PROVINCE, China--(BUSINESS WIRE)--Gulf Resources, Inc. (OTCBB:
GFRE - News) ("Gulf" or the "Company"), a leading manufacturer of bromine, crude
salt and specialty chemical products in China, today announced that the Company
has received approximately $23 million in customer orders for the fourth quarter
of 2008, up significantly from the third quarter of 2008. The Company reaffirmed
its full year 2008 revenue guidance, and revised previously issued net income
guidance to between $20 million and $23 million.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Held in
August 2008, the Olympic Games caused reductions in customer orders during the
third quarter due to official restrictions on industrial activity in the greater
Beijing area ahead of and during the Olympic Games. In an effort to improve air
quality in Beijing, the government imposed restrictions on production at many
chemical factories in Beijing and Qingdao. As a result, some of Gulf's customers
requested to reschedule or delay the delivery of bromine orders, adversely
impacting sales in the third quarter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As these
restrictions on chemical producers have now been removed, Gulf Resources has
experienced a significant increase in its customer orders for the fourth
quarter. Placed orders for the fourth quarter are valued at $23 million in
total, with bromine products and additives for oil and gas exploration
accounting for $14.5 million and $5.5 million, respectively. The Company's
capacity utilization rate has returned to between 75% and 80%, the utilization
rate achieved before the Olympic Games.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"We are
extremely pleased to see the surge in placed orders as a result of the revival
of the chemical industry after the Olympic Games," commented Ming Yang, Chief
Executive Officer of Gulf Resources. "Robust demand for bromine and chemical
products in China together with our rapidly expanding production capacity and
increased production efficiency will allow us to continue capturing a larger
share of the market for bromine and bromine-based chemicals. We remain
optimistic regarding our overall operational performance this year, even though
we, together with the industry in general, faced a temporary slowdown in the
third quarter."</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gulf
Resources reaffirms previously issued revenue guidance for its fiscal year 2008
financial results, with expected revenues between $84 million and $90 million.
The Company revises net income guidance to between $20 million and $23 million
from previously issued $22 million and $25 million, and diluted earnings per
share in the range of $0.20 to $0.23 from previously issued $0.22 to $0.25. This
guidance does not include the impact of any unusual charges.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
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          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"We
expect net income for fiscal year 2008 to materialize lower than previously
projected mainly due to the temporary slowdown in demand and production caused
by the Olympic Games and a faster than previously anticipated rise in raw
material prices. However, since we are currently increasing our in-house
sourcing activities to better utilize our proprietary bromine reserves in
chemical production and developing more environmentally friendly products that
command higher prices, we expect profitability of our chemical products to
continue increasing medium to long-term."</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
Gulf Resources, Inc.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gulf
Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City
Haoyuan Chemical Company Limited ("SCHC") and Shouguang Yuxin Chemical Industry
Co., Limited ("SYCI"). The Company believes that it is the largest producer of
bromine in China. Elemental Bromine is used to manufacture a wide variety of
compounds utilized in industry and agriculture. Through SYCI, the Company
manufactures chemical products utilized in a variety of applications, including
oil &amp; gas field explorations and as papermaking chemical agents. For more
information, please visit the Company's website:
www.gulfresourcesco.com</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Forward-Looking
Statements</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
statements in this news release contain forward-looking information about Gulf
Resources and its subsidiaries business and products within the meaning of Rule
175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange
Act of 1934, and are subject to the safe harbor created by those rules. The
actual results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business conditions in
the PRC, future product development and production capabilities, shipments to
end customers, market acceptance of new and existing products, additional
competition from existing and new competitors for bromine and other oilfield and
power production chemicals, changes in technology, the ability to make future
bromine asset purchases, and various other factors beyond its control. All
forward-looking statements are expressly qualified in their entirety by this
Cautionary Statement and the risks factors detailed in the Company's reports
filed with the Securities and Exchange Commission. Gulf Resources undertakes no
duty to revise or update any forward-looking statements to reflect events or
circumstances after the date of this release.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Contact:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gulf
Resources, Inc.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rena
Xiao</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">renaxiao@gmail.com</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Helen
Xu</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">beishengrong@163.com</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CCG
Investor Relations, Inc.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
Crocker Coulson, +1-646-213-1915</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">crocker.coulson@ccgir.com</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">http://www.ccgir.com/</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    </div>
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