TSX:
CGG
HKSE:
2099
last:
3.98 (+0.04)
last:
24.8 (+0.55)
vol:
28,502
vol:
1,213,200

China Gold International Resources Corp. Ltd. Achieves Record Production and Exceeds Annual Guidance in 2021, Expecting Continued Output Growth in 2022

VANCOUVER, January 19, 2022 - China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (“China Gold International Resources” or the “Company”) is pleased to provide preliminary full year production results for 2021 and announce annual production guidance for 2022.

2021 Preliminary Production Results Exceeds Annual Guidance:

  • The consolidated gold production is approximately 244,345 ounces (approximately 7.6 tonnes), exceeding the 2021 production guidance of 235,000 ounces by about 4%. The copper production is approximately 191 million pounds (approximately 86,400 tonnes), exceeding the 2021 production guidance of 177 million pounds by more than 7%. The above are preliminary results. The actual annual production data will be released in the 2021 annual financial statements of the Company.

Production Guidance for 2022:

  • The anticipated gold production will be between 241,130 ounces (7.5 tonnes) and 250,775 ounces (7.8 tonnes).
  • Total copper production is estimated to be between 187 million pounds (85,000 tonnes) and 198 million pounds (90,000 tonnes).

The Company’s Chairman and CEO, Mr. Liangyou Jiang, said, “2021 was an important year for the Company to enter a new stage of operations. We have successfully overcome unfavorable factors such as the Covid-19 pandemic, carefully organized production and continuously improved the quality of operations. As a result, the Company achieved record production for both gold and copper and exceeded the annual guidance in 2021. In 2022, we are confident to move towards higher goals and continue to create value for shareholders.”

Final Year-End 2021 Results:

The Company expects to report its 2021 annual financial statements by the end of March 2022. In connection with the release, management will hold its annual roadshow event to discuss the Company’s year-end results and performance.

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 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. 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.