China Gold International Resources

China Gold International Resources Reports 2023 Year-End Results and Provides 2024 Guidance

VANCOUVER, March 28, 2024 – China Gold International Resources reports 2023 Year-End Results and provides 2024 Guidance.

For detailed information, please read the Company’s financial statements and Management Discussion and Analysis for the year ended December 31, 2023 which are available on SEDAR 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, call the Company at +1-604-609-0598 or email to info@chinagoldintl.com.

FINANCIAL, PRODUCTION AND OPERATION HIGHLIGHTS

2023 FOURTH QUARTER

   Revenue decreased by 72% to US$71.3 million from US$253.9 million for the same period in 2022.
   Mine operating loss of US$1.9 million, decreased by US$98.5million from mine operating earnings of US$96.6 million for the same period in 2022.
   Net loss of US$17.5 million, decreased by US$66.0 million from net income of US$48.5 million for the same period in 2022.
   Cash flow used in operation of US$20.9 million, decreased from cash flow from operation of US$89.1 million for the same period in 2022.
   Total gold production decreased by 57% to 25,500 ounces from 59,992 ounces for the same period in 2022.
   Total copper production was 184,077 pounds (approximately 83 tonnes) as limited production at the Jiama mine resumed on December 15, 2023. Copper production was 45.1 million pounds (approximately 20,472 tonnes) for the same period in 2022.

2023 ANNUAL RESULTS

   Revenue decreased by 58% to US$459.4 million from US$1,104.9 million for the same period in 2022.
   Mine operating earnings decreased by 80% to US$80.4 million from US$395.6 million for the same period in 2022.
   Net loss of US$23.0 million decreased from net income of US$225.4 million for the same period in 2022.
   Cash flow from operation decreased to US$1.6 million from US$447.3 million for the same period in 2022.
   Total gold production decreased by 38% to 147,963 ounces from 238,836 ounces for the same period in 2022.
   Total copper production decreased by 76% to 44.2 million pounds (approximately 20,051 tonnes) from 187.4 million pounds (approximately 85,004 tonnes) for the same period in 2022.

2024 GUIDANCE

The Jiama Mine has gradually resumed production starting from the Phase I processing plant on December 15, 2023, with a daily processing capacity of 6,000 tonnes of ore.  As the resumption of the Phase II processing plant is subject to the results of the government’s review of the tailings discharge scheme, the timing of resumption is uncertain. Against this backdrop, the Company reports separate production guidance to the two mines in 2024.

CSH Mine:

   It is expected that the gold production range will be 106,097 ounces to 112,528 ounces (approximately 3.3 tonnes to 3.5 tonnes) in 2024.

Jiama Mine:

   The Company expects to receive government’s approval for the resumption of operations at the beginning of May 2024. Upon receipt of the approval, Jiama Mine will resume production at the Phase II plant's designed processing capacity of approximately 34,000 tonnes per day (tpd). Given that the actual timing of the production resumption depends on the final date of government’s approval, the annual production guidance is subject to uncertainty.
   It is expected that the copper production range will be 95.0 million pounds to 98.0 million pounds (approximately 43,200 tonnes to 44,500 tonnes) in 2024;
   It is expected that the gold production range will be 42,439 ounces to 45,333 ounces (approximately 1.32 tonnes to 1.41 tonnes) in 2024.

The Company’s Chairman and CEO, Mr. Junhu Tong, said, “Despite the severe challenges faced by the Company in 2023, our team has maintained a tenacious working spirit and completed some critical objectives, including the resumption of the Phase I processing plant of the Jiama Mine and the return of mining at the CSH Mine to normal levels. In 2024, the Company will focus on promoting the full resumption of the Jiama Mine as soon as possible, maintaining the stable operation of the CSH Gold Mine, and strictly controlling the cost level to fully improve the Company’s production and financial performances.”

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 Chang Shan Hao 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).

www.chinagoldintl.com/investors/...s/index.php?content_id=518

China Gold International Resources Engages SRK to Advance Independent NI 43-101 Feasibility Study for CSH Mine Underground Development Early Underground Development Works Underway as CSH Mine Advances Transition from Open-Pit to Block-Caving Mining

VANCOUVER, August 17 2026 – China Gold International Resources Corp. Ltd. (TSX: CGG; HKEX: 2099) (“China Gold International Resources” or the “Company” ) is pleased to announce that it has entered into an agreement with SRK Consulting (“SRK”) to undertake an independent feasibility-level assessment and prepare a technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the planned underground development of the Company’s Chang Shan Hao Gold Mine (the “CSH Mine”) in Inner Mongolia Autonomous Region, China.

As the existing CSH open-pit operation approaches the later stage of its mine life, the Company is advancing its planned transition to underground mining, with block caving currently contemplated as the principal mining method for the development of the mineral resources located beneath and adjacent to the existing open pit.

The engagement of SRK represents an important step in establishing an independent technical and economic basis for the underground development in accordance with NI 43-101 and applicable CIM standards, while early underground development activities are progressing separately under the engineering and regulatory framework applicable in China.

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www.chinagoldintl.com/investors/...s/index.php?content_id=556

China Gold International Resources Announces Approval of CSH Mine Slope Remediation Plans and Expected Resumption of Mining Operations

VANCOUVER, August 17, 2026 – China Gold International Resources Corp. Ltd. (TSX: CGG; HKEX: 2099) (“China Gold International Resources” or the “Company”) announces that the slope remediation plans for its Chang Shan Hao Gold Mine (the “CSH Mine”) have been approved. Based on the current work schedule, the Company expects to complete the key interim remediation work required to resume mining operations within approximately one month following the selection and mobilization of the contractors, with normal mining operations expected to resume progressively thereafter.

As previously disclosed in the Company’s news release dated May 27, 2026, a localized slope instability event occurred at the CSH Mine on May 22, 2026. No injuries and equipment losses resulted from the incident. As a safety precaution, open-pit mining operations were suspended, while the processing plant continued to operate using existing low-grade ore stockpiles. Since the incident, the Company has engaged external geotechnical experts and professional firms to conduct geotechnical assessments and develop remediation plans.

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www.chinagoldintl.com/investors/...s/index.php?content_id=555

The Company's simultaneous inclusion into the two Hang Seng thematic indices with differentiated positioning represents dual recognition from the international authoritative index compiler. On one hand, it indicates that the share price elasticity and market trading liquidity brought by the Company's strong performance growth in recent years have been widely recognized by the capital market; on the other hand, it demonstrates that the Company's standardized governance, stable profitability and dividend return capability as a central SOE listed platform meet the quality screening standards of professional institutions. The inclusion will help expand the Company's domestic and overseas investor coverage, improve share trading activity and capital market visibility, provide opportunities for the Company to enter the allocation pool of high-beta thematic funds and index tracking products, and further capture long-term capital inflows from Stock Connect funds, central SOE thematic allocation funds and other institutional investors, forming positive support for the Company's long-term development.

Mr. Chenguang Hou, Chairman and Chief Executive Officer of the Company, commented, "We are greatly honored that the Company has been included in the two Hang Seng thematic indices at the same time. This is not only a recognition of the Company's past operational results and growth potential by the capital market, but also reflects the market's sustained optimism towards the value of the non-ferrous mining sector and high-quality central SOE listed platforms.

The Company will continue to implement its core corporate strategy, steadily advance the two key projects including the Jiama Mine expansion project and the construction of Chang Shan Hao Gold Mine underground mining project. While maintaining steady performance growth, we will continuously improve corporate governance and shareholder return, creating long-term sustainable value for our shareholders."

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www.chinagoldintl.com/investors/...s/index.php?content_id=557