China Gold International to Exceed Production Guidance
VANCOUVER, December 6, 2018 – China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (“China Gold International Resources” or the “Company”) is pleased to announce it is well positioned to exceed its previously provided 2018 production guidance as follows:
- 2018 gold production is expected to be approximately 30% above the original guidance of 160,000 ounces forecasted at the beginning of the year. The increase in gold production is mainly attributable to the Company’s CSH Gold Mine increasing its recovery rates and achieving success in the optimization of ore processing, which has resulted in the CSH Gold Mine exceeding its anticipated production. The increase in gold production is also attributable to the commencement of commercial production for the Phase II Series II expansion of the Company’s Jiama Copper-Polymetallic Mine ahead of schedule, which resulted in a larger than anticipated processing capacity at the Jiama Mine.
- 2018 copper production is expected to be approximately 15% above the original guidance of 100 million pounds forecasted at the beginning of the year. The increase in copper production is mainly attributable to the commencement of commercial production for the Phase II Series II expansion of the Company’s Jiama Copper-Polymetallic Mine ahead of schedule, which resulted in a larger than anticipated processing capacity at the Jiama Mine.
Mr. Liangyou Jiang, the Company’s CEO, stated: “Our Company’s excellent track record of developing mines and fostering strong, mutually beneficial relationships with local stakeholders gives us confidence that the Company will be better positioned to maximize value for shareholders. I would like to congratulate all members of our team on this increased progress. I would also like to thank our board and shareholders, who continue to believe in and support us in our efforts.”
About China Gold International Resources
China Gold International Resources 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 on China Gold International Resources Corp. Ltd., please refer to its SEDAR profile at www.sedar.com or contact Tel: 604-609-0598, 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,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.
