China Gold International Provides Its Jiama Copper-Gold Polymetallic Mine
China Gold International
Resources Corp. Ltd.
Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
China Gold International Provides Its Jiama Copper-Gold Polymetallic Mine
Update
VANCOUVER, Ma y 5, 202 3 – China Gold International Resources Corp. Ltd. (TSX: CGG;
HKEX: 2099) ( “China Gold International Resources ” or the “Company”) provides an update
on the operations of its Jiama copper-gold polymetallic mine (“Jiama Mine”).
Reference is made to the Company’s announcement dated on March 31, 2023. On May 27,
2023, an overflow occurred at the Guolanggou Tailings Dam at Jiama Mine (the “overflow”). The
Company quickly contained and repaired the breach to ensure no damage to the environment or
neighboring communities. Subsequent to the overflow, Jiama Mine has suspended its operations
while the Company takes the opportunity to conduct a comprehensive safety assessment of and
repair work on its tailings dam with the assistance and supervision of government safety
authorities. The Company does not have an exact timeline for the re-start of production.
The overflow occurred at the top 19th subsequent dyke of the Guolangou Tailings Dam.
However, other levels of subsequent dykes and the starter dyke were also damaged to varying
degrees. The Company is conducting a comprehensive inspection and assessment of all 19
levels of subsequent dykes and the starter dyke of th e tailings dam and is making permanent
repairs and reinforcements of the dam. The repair and reinforcement construction is expected to
be completed by the end of July 2023. Following the completion of the construction , the
Company will conduct a safety assessment of the entire tailings pond and submit an assessment
report to the regulatory authority by the end of August 2023. The government regulators will
decide when to grant permission to resume production based on the assessment report.
Due to the uncer tainty of the date of resumption of production at Jiama Mine, the Company is
withdrawing its annual production guidance for 2023 as set out in the announcement of the
Company dated January 20, 2023. Once the impact of tailings overflow on the operation can be
more clearly evaluated, the Company will re -issue the production guidelines. However, the
Company notes that production operations at the Company's CSH gold mine are normal and
stable.
About China Gold International Resources
China Gold International Resources is a gold and base metal mining company
incorporated in BC, Canada and operates two mines, the Chang Shan Hao Gold Mine in
Inner Mongolia, China and the Jiama Copper -Gold Polymetallic Mine in Tibet, China.
The Company’s objective is to build shareholder value through growing production at its
current mining operations, expanding its resource base, and acquiring and developing
new projects internationally. The Company is listed on the Toronto Stock Exchange
(TSX: CGG) and the Main Board of The Stoc k Exchange of Hong Kong Limited (HKE X:
2099).
For further information on the Company, please refer to SEDAR’s website at
www.sedar.com, The Stock Exchange of Hong Kong Limited’s website at
www.hkex.com.hk, the Company's website at www.chinagoldintl.com, or call the
Company at +1-604-609-0598 and email to [email protected].
China Gold International
Resources Corp. Ltd.
Suite 660, One Bentall Centre
505 Burrard Street
Vancouver, BC
Canada V7X 1M4
Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute
forward-looking statements within th e meaning of applicable securities laws. Forward -looking statements
may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements
that are not statements of fact. Although China Gold International Resources believes that the expectations
reflected in such forward -looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. China Gold International Resources cautions that actual
performance will be affected by a number of factors, most of which are beyond its control, and that future
events and results may vary substantially from what China Gold International Resources currently foresees.
Factors that could cause actual results to differ materially from those in forward-looking statements include
market prices, exploitation and exploration results, continued availability of capital and financing and
general economic, market or business conditions. The forward -looking statements are expressly qualified
in their entirety by this cautionary statement. The information contained herein is stated as of the current
date and subject to change after that date.