CGG:CC - China Gold International Resources Corp. Ltd. Reports 2021 Year-End Results Provides 2022 Outlook and Declares Dividend

(TheNewswire)

VA NCOU VE R – TheNewswire - March 30 , 202 2 - C h i n a G o l d I n t e rn a ti o na l R es o u r c es C o rp . L t d . ( T S X :C G G ) ; ( H KE x : 2099 ) (“ C h i n a G o ld I n t e r na t i ona l R es o u r c e s ” o r t h e “ C o m p a n y ” ) is p l eas ed t o report 2021 Year-End Results, provide 2022 Outlook anddeclare Dividend.

For detailed information, please read the Company’sFinancial Statements and MD&A for the year ended December 31, 2021which are available on SEDAR’s website at www.sedar.com, The StockExchange of Hong Kong Limited’s website at www.hkex.com.hk, theCompany's website at www.chinagoldintl.com, or call the Company at+1-604-609-0598 and email to info@chinagoldintl.com.

FINANCIAL,PRODUCTION AND OPERATION HIGHLIGHTS

2021 FOURTHQUARTER

•        Revenue increased by 17% to US$312.0million from US$265.8 million for the same period in 2020.

•        Mine operating earnings increased by 24%to US$111.8 million from US$90.1 million for the same period in2020.

•        Net income increased by 4% to US$58.8 million from US$56.4 millionfor the same period in 2020.

•        Total gold production increased by 5% to62,278 ounces from 59,177 ounces for the same period in 2020.

•        Total copper production decreased by 6%to 47.1 million pounds (21,387 tonnes) from 50.1 million pounds(22,742 tonnes) for the same period in 2020.

2021 ANNUAL

•        Revenue increased by 32% to US$1,137.4million from US$864.0 million for the same period in 2020 .

•        Mine operating earnings increased by 93%to US$404.1 million from US$209.9 million for the same period in 2020 .

•        Net income increased by 136% to US$268.7million from US$113.9 million for the same period in 2020 .

•        Total gold production increased by 1.4%to 244,312 ounces from 240,848 ounces for the same period in 2020 .

•        Total copper production increased by 5%to 190.5 million pounds (86,400 tonnes) from 180.9 million pounds(82,059 tonnes) for the same period in 2020 .

SPECIALDIVIDEND

In connection with the Company’s financial resultsfor the year ended 31 December 2021, the Company is pleased toannounce the declaration of a special dividend of US$ 0.25 per commonshare payable on June 15, 2022 to shareholders of record as of April20, 2022. This dividend qualifies as an “eligible dividend” forCanadian income tax purposes while dividends paid to shareholdersoutside Canada (non-resident investors) will be subject to Canadiannon-resident withholding taxes. If you are a non-resident taxpayerresident in a country or area that Canada has a tax treaty with, youmay be eligible to receive the reduced rate of tax for the dividendyou will be receiving. Please review the NR301 Form to check if youare eligible and if so, submit the aforementioned form to ensure thebenefit from the tax treaty is applied to you.

2022 PRODUCTIONAND OPERATION OUTLOOK

•        The anticipated gold production will bebetween 241,130 ounces (7.5 tonnes) and 250,775 ounces (7.8tonnes).

•        Total copper production is estimated tobe between 187 million pounds (85,000 tonnes) and 198 million pounds(90,000 tonnes).

•        The Company continues to focus itsefforts on optimizing the operation at both mines, stabilizing theJiama Mine’s production and potentially extending the mine life ofthe CSH Mine.

•        The Company has not experienced anysignificant impact on its operations by the COVID-19 pandemic. Both ofthe Company’s mines have been able to operate and sell productswithout significant interruption during the year ended December 31,2021. The Company continues to closely monitor the health of itsemployees and supply chains to be able to respond to any potentialdisruptions, should any arise. The Company is also managing its cashreserves to be able to withstand any financial ramifications ofpotential disruptions.

The Company’s Chairman and CEO, Mr. Liangyou Jiang,stated, “2021 is an important year for the Company to enter a newstage of operations, achieving an important milestone in the historyof the Company with record revenue and net profit. We continue toenhance the value of the Company. 2021 is also a year of hope for theCompany to lay a solid foundation for high-quality development in thefuture. We will continue to endeavor seizing internal and externalopportunities, promoting the development of new resources and theconstruction of new project, injecting impetus into the realization ofour long-term goals. We are confident in aiming towards higher goalsand in creating value for our shareholders”

AboutChina Gold International Resources

China Gold International Resources is a gold and basemetal mining company incorporated in BC, Canada and operates twomines, the CSH Gold Mine in Inner Mongolia, China and the JiamaCopper-Gold Polymetallic Mine in Tibet, China. The Company’sobjective is to build shareholder value through growing production atits current mining operations, expanding its resource base, andacquiring and developing new projects internationally. The Company islisted on the Toronto Stock Exchange (TSX: CGG) and the Main Board ofThe Stock Exchange of Hong Kong Limited (HKEx: 2099).

For further information on the Company, please refer toSEDAR’s website at www.sedar.com, The Stock Exchange of Hong KongLimited’s website at www.hkex.com.hk, the Company's website atwww.chinagoldintl.com, or call the Company at +1-604-609-0598 andemail to info@chinagoldintl.com.

Cautionary NoteAbout Forward-Looking Statements

Certain information regarding ChinaGold International Resources contained herein may constituteforward-looking statements within the meaning of applicable securitieslaws. Forward-looking statements may include estimates, plans,expectations, opinions, forecasts, projections, guidance or otherstatements that are not statements of fact. Although China GoldInternational Resources believes that the expectations reflected insuch forward-looking statements are reasonable, it can give noassurance that such expectations will prove to have been correct.China Gold International Resources cautions that actual performancewill be affected by a number of factors, most of which are beyond itscontrol, and that future events and results may vary substantiallyfrom what China Gold International Resources currently foresees.Factors that could cause actual results to differ materially fromthose in forward-looking statements include market prices,exploitation and exploration results, continued availability ofcapital and financing and general economic, market or businessconditions. The forward-looking statements are expressly qualified intheir entirety by this cautionary statement. The information containedherein is stated as of the current date and subject to change afterthat date.

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