China Gold International Resources Provides Preliminary 2016
Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
China Gold International
Resources Corp. Ltd.
Tel: 604-609-0598 Fax: 604-688-0598 E-mail: [email protected], www.chinagoldintl.com
China Gold International Resources Provides Preliminary 2016
Production and Guidance and 2017 Outlook
VANCOUVER, January 25, 2017 - China Gold International Resources Co. Ltd. (TSX:CGG;
HKEx: 2099) (“China Gold International Resources” or the “Company”) is pleased to
provide preliminary guidance on 2016 operating and production results at both of its mines
and announce its goals for 2017.
2016 Production Highlights - Gold:
• Gold production of 185,051ounces from the Chang Shan Hao Gold Mine (“CSH Mine”
or “CSH”).
• Gold production of 26,249 ounces from the Jiama Copper-Gold Polymetallic Mine
(“Jiama Mine” or “Jiama”) increased by 9% since 2015.
• The Company’s consolidated gold production was 211,301 ounces from both mines,
90% of its previously announced 2016 annual production guidance of 235,000
ounces. The shortfall is attributable to intersecting l ower-grades in the current
mining zone at the CSH Mine.
2016 Production Highlights - Copper:
• Copper production of 40.4 million pounds from the Jiama Mine, which surpassed its
previously announced 2016 guidance of 38.6 million pounds, increased by 6% from
38.1 million pounds from 2015. This is the sixth straight year of increased production
at the Jiama Mine.
Mr. Bing Liu, CEO of the Company, commented, "I am very pleased that the Company has
made significant progress this year. The production commissioning of Jiama Phase II
Series I has laid a solid foundation for t he Jiama expansion plan. The Company’s
operations continue to expand and efforts from the entire team are remarkably
demonstrated.
I am confident that after our re-optimization of the mine plan and with continuing support
from the local community and China National Gold Group, the Jiama Phase II expansion will
reach its full capacity smoothly and economically. We will also continue to improve the
operation at the CSH mine and create more value for our shareholders and local community
by thriving to deliver stronger results in 2017.”
Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
China Gold International
Resources Corp. Ltd.
Tel: 604-609-0598 Fax: 604-688-0598 E-mail: [email protected], www.chinagoldintl.com
2017 Production Outlook:
• With Jiama Phase II Series I ramping up to its full capacity in the middle of this year,
the copper production in 2017 is expected to be doubled to approximately 79 million
pounds, while gold production is expected to remain steady at 25,700 ounces.
• The Company’s CSH Mine is expected to produce about 193,000 ounces of gold in
2017.
• The Company’s consolidated gold production from both mines will be 218,700
ounces.
Final Year-End 2016 Results
China Gold International Resources expects to report its detailed Year-End 2016 financial
and operating results on March 30, 2017 and the results will be available on the Company’s
website and SEDAR. In connection with the release, management will hold its annual
roadshow and an announcement event to discuss year-end results and performance.
About China Gold International Resources
China Gold International R esources Corp. Ltd. is based in Vancouver, BC, Canada and
operates both profitable and growing mines, the CSH Gold Mine in Inner Mongolia, and the
Jiama Copper-Polymetallic Mine in Tibet Autonomous Region of the People’s Republic of
China. The Company’s objective is to continue to build shareholder value by growing
production at its current mining operations, expanding its resource base, and aggressively
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 additional information:
Elena M. Kazimirova
Investor Relations Manager and Financial Analyst
Tel: +1.604.695 5031
Email: [email protected]
Website: www.chinagoldintl.com
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,
Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
China Gold International
Resources Corp. Ltd.
Tel: 604-609-0598 Fax: 604-688-0598 E-mail: [email protected], www.chinagoldintl.com
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.