China Gold International Resources Announces the Resumption of Operations at its Jiama Copper-Gold Polymetallic Mine

2024-05-30 / @thenewswire

(TheNewswire)

VANCOUVER, May 30, 2024 – TheNewswire – China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (“China Gold International” or the “Company”) is pleased to announce that the operation of the Phase II processing plant has been resumed at its Jiama Copper-Gold Polymetallic Mine (the “Jiama Mine”) effective May 30, 2024, following the receipt of approval from the Government of Tibet Autonomous Region.

On March 27, 2023, the operations of the Jiama Mine were suspended due to a tailings overflow at the Guolanggou Tailings Dam (the “Overflow”). During the suspension of operations, the Company actively carried out comprehensive repair and reinforcement work at the Guolanggou Tailings Dam.

With the approvals of the Government of Tibet Autonomous Region and relevant departments of the central government, the Phase II processing plant will resume operations with a daily processing capacity of 34,000 tonnes. The Phase I processing plant which has been in operation during the production ramp up phase will cease operations. The Company is actively advancing the construction of the Phase III tailings dam, which is expected to be completed and put into operation in the first half of 2026.

“I would like to take this opportunity to express my gratitude to the whole team at Jiama Mine for their dedication and unwavering efforts during this difficult time. I also want to extend special thanks to our shareholders and regulatory authorities for their support and understanding. The Company is committed to put paramount importance to safety and environmental protection in managing its production and operations,” stated Junhu Tong, the Company’s Chairman and CEO, "We are proceeding cautiously in resuming operations and ramping up productions. The root causes of the Overflow have been thoroughly reviewed and the lessons learned will be applied in future operations, as well as in the design and construction of Phase III tailings dam. Health, safety and environmental protection will remain our top priorities."

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 info@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.