Suspension of Trading

About this update from China Changjiang Mining & New Energy Co., Ltd.

UNITED STATES OF AMERICA  Before the  SECURITIES AND EXCHANGE COMMISSION  SECURITIES EXCHANGE ACT OF 1934  Release No. 64164 / April 1, 2011  The Securities and Exchange Commission announced the temporary suspension, pursuant to  Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the  securities of China Changjiang Mining & New Energy Co., Ltd. (“CHJI”), a Nevada corporation   previously known as North American Gaming and Entertainment Corporation with headquarters  and operations in the People’s Republic of China, at 9:30 a.m. EDT on April 1, 2011, and  terminating at 11:59 p.m. EDT on April 14, 2011.  Questions have arisen regarding the accuracy and completeness of information contained in  CHJI’s public filings with the Commission concerning, among other things, the company’s  financial statements for 2009 and 2010.  CHJI has failed to disclose that (a) the company filed its  last periodic report on Form 10-Q for the quarter ended September 30, 2010 without the required  review of the interim financial statements by an independent public accountant; and (b) the  company’s independent auditor has resigned, withdrawn its audit opinion issued April 16, 2010  relating to the audit of the company’s consolidated financial statements as of December 31,  2009, and informed the company that the financial statements for the quarters ended March 31,  June 30, and September 30, 2010 could no longer be relied upon.  The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they  should carefully consider the foregoing information along with all other currently available  information and any information subsequently issued by the company.   Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the  Exchange Act, at the termination of the trading suspension, no quotation may be entered unless  and until they have strictly complied with all of the provisions of the rule.  If any broker or dealer  has any questions as to whether or not he has complied with the rule, he should not enter any  quotation but immediately contact the staff in the Division of Trading and Markets, Office of  Interpretation and Guidance, at (202) 551-5777.  If any broker or dealer is uncertain as to what is  required by Rule 15c2-11, he should refrain from entering quotations relating to CHJI’s  securities until such time as he has familiarized himself with the rule and is certain that all of its  provisions have been met.  If any broker or dealer enters any quotation which is in violation of  the rule, the Commission will consider the need for prompt enforcement action.  If any broker, dealer or other person has any information which may relate to this matter, they  should immediately contact Marshall S. Sprung, Assistant Regional Director, Los Angeles  Regional Office, at (323) 965-3320, or Junling Ma, Senior Counsel, Los Angeles Regional  Office, at (323) 965-4539, or by e-mail at [email protected] or [email protected]. 

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