The Appointment of Executive Director and Chairman and Chief Executive Officer
China Gold International
Resources Corp. Ltd.
Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
THE APPOINTMENT OF EXECUTIVE DIRECTOR
AND CHAIRMAN AND CHIEF EXECUTIVE OFFICER
VANCOUVER, November 14, 2024 - The Board of Directors (the “Board”) of China Gold
International Resources Corp. Ltd. (the “ Company”) hereby announces：
Mr. Chenguang Hou (“ Mr. Hou ”) has been appointed as the Executive Director,
Chairman and Chief Executive Officer of the Company to fill the casual vacancy for the
positions following Mr. Tong’s resignation, effective from November 14, 2024. There is
no specific term or proposed duration for his service in this role . Pursuant to the articles
of the Company, Mr. H ou will be subject to election as a Director at the next annual
general meeting of the Company and is not entitled to any emolument.
Mr. Hou, aged 45, has over 20 years of experience in the mining sector, including
expertise in corporate management, financial management, audit, legal and compliance
management. Since July 2001, Mr. Hou has held several senior executive roles with the
controlling shareholder of the Company, China National Gold Group Co., Ltd. (“CNG”).
From October 2014 to August 2020, he served successively as deputy general manager
and senior manager of CNG’s finance department. From November 2020 to November
2024, he held the roles of deputy general manager and general manager of CNG’s audit
and legal department. Since November 2024, he has been appointed as Chairman and
general manager of China National Gold Group Hong Kong Limited. In addition, Mr. Hou
has held senior management positions in several mining companies and is familiar with
the production processes and operating practices of listed companies, bringing extensive
experience in executive management.
Mr. Hou has participated in merger and acquisitions of various mining projects, and has
extensive experience in assets injection, financial due diligence, valuation, and legal and
compliance matters of listed companies . He led the establishment of a comprehensive
compliance system of China Gold, presid ed over economic responsibility audit s for
multiple mining companies. Additionally, he has maintained strong working relationships
with CNG, as well as domestic and international financial institutions and reg ulatory
institutions.
Mr. Hou is a senior accountant with a Bachelor’s Degree in Accounting from Beijing Wuzi
University and enrolled in part -time graduate studies in business administration at Asia
International Open University (Macao).
Save as disclosed above, Mr. Hou did not hold any directorship in any listed company in
the last three years, nor does he hold any position with the Company or other members
of the Group. As at the date of this announcement and save as disclosed above, Mr. Hou
does not have any relationships with directors, senior management, substantial or
controlling shareholders of the Company.
China Gold International
Resources Corp. Ltd.
Suite 660, One Bentall Centre
505 Burrard Street
Vancouver, BC
Canada V7X 1M4
As at the date of this announcement, Mr. Hou does not have any interests in the shares
of the Company within the meaning of Part XV of the Securities and Futures Ordinance.
Save for the information set out above, there is no other information to be disclosed
pursuant to any of the requirements of Rule 13.51(2)(h) to (v) of the Listing Rules nor
are there other matters that need to be brought to the attention of the Shareholde rs in
relation to the appointment of Mr. Hou as a Director.
Pursuant to code provision C.2.1 of the Corporate Governance Code in Appendix C1 to
the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”)
and National Instrument 58 -101 of the Canadian Securities Administrators, the role of
Chairman and the Chief Executive Officer should not be performed by the same
individual. However, the Board believes that Mr. Hou is familiar with the Company ’s
business operation and has superior knowledge and experience of the Company ’s
business, and vesting the roles of both Chairman and Chief Executive Officer in the same
person has the benefit of ensuring consistent leadership with the Company and
improving the efficiency of overall strategic planning for the Company. Under the
supervision of the Board which comprises of four Executive Directors, one Non-
Executive Director and four Independent Non-Executive Directors (“INED”), the Board is
appropriately structured with balance of power to provide sufficient checks to protect the
interests of the Company and the Shareholders. Further, the Company established the
role of “Lead Independent Director” and Mr. Yingbin Ian He was appointed as Lead INED
as at November 13, 2018. The role of Lead INED was created to liaise with Chief
Executive Officer on behalf of the INEDs and advise the Board on matters where there
may be an actual or potential conflict of interest to ensure the best possible operation of
the Board in accordance with the best corporate governance practices.
Upon his appointment, Mr. Hou has not yet served any role or duty in any Board
Committees.
The Board believes that the appointment of Executive Director , Chairman and Chief
Executive Officer will ensure a smooth leadership transition for both the Board and
management, enabling the Company to maintain its focus on achieving its long -term
growth strategies.
Mr. Hou stated , “I am honored to accept this appointment and am confident in working
alongside the Board and management team to actively promote the achievement of the
Company's strategic objectives, striving to make the Company a steadily growing and
sustainably developing enterprise."
The Board confirms that there are no other matters that need to be brought to the
attention of the Shareholders in connection with the appointment of the Director and the
change of relevant positions.
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 CSH Gold Mine in Inner
Mongolia, China and the Jiama Copper -Gold Polymetallic Mine in Tibet, China. The
China Gold International
Resources Corp. Ltd.
Suite 660, One Bentall Centre
505 Burrard Street
Vancouver, BC
Canada V7X 1M4
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 Stock Exchange of Hong Kong Limited (HKEx: 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].
Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute forward-
looking statements within the 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. A lthough 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 cauti ons 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.