TSX:
CGG
HKSE:
2099
last:
4.55 (-0.40)
last:
27.9 (+0.08)
vol:
33,750
vol:
1,243,800

China Gold International Resources Corp. Ltd. Announces 2022 Production Results & Provides 2023 Guidance

VANCOUVER, January 19, 2023 - 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 2022 and announce annual production guidance for 2023.

2022 Preliminary Production Results:

  • The consolidated gold production is approximately 238,880 ounces (approximately 7.43 tonnes), slightly lower than the 2022 production guidance range of 241,130 ounces (approximately 7.5 tonnes)
  • The copper production is approximately 187 million pounds (approximately 85,000 tonnes) which was in line with the 2022 production guidance range.

The production results above are preliminary. The actual annual production data will be released in the 2022 annual financial statements of the Company.

2023 Production Guidance:

  • The anticipated consolidated gold production will be between 241,130 ounces (7.5 tonnes) and 244,346 ounces (7.6 tonnes).
  • Total copper production is estimated to be between 189 million pounds (86,000 tonnes) and 191 million pounds (87,000 tonnes).

The Company’s Chairman and CEO, Mr. Junhu Tong, said, “In spite of the negative impact of COVID-19 on supply chain, our teams remained resilient in executing our plans and substantially achieved 2022 production guidance under challenging circumstances. Going forward, the Company will continue to focus on profitability and reliability, while unlocking the potential of our existing assets. The Company will endeavor to optimize its operations and achieve production growth in 2023”.

Final Year-End 2022 Results:

The Company expects to report its 2022 annual financial statements by the end of March 2023. 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.