An anonymous director reports

CHINA GOLD INTERNATIONAL PROVIDES ITS JIAMA COPPER-GOLD POLYMETALLIC MINE UPDATE

China Gold International Resources Corp. Ltd. has provided an update on the operations of its Jiama copper-gold mine.

Reference is made to the company's press release dated on March 31, 2023. On May 27, 2023, an overflow occurred at the Guolanggou tailings dam. The company quickly contained and repaired the breach to ensure no damage to the environment or neighbouring communities. Subsequent to the overflow, the Jiama mine has suspended its operations while the company takes the opportunity to conduct a comprehensive safety assessment of, and repair work on, its tailings dam with the assistance and supervision of government safety authorities. The company does not have an exact timeline for the restart of production.

The overflow occurred at the top 19th subsequent dike of the Guolangou tailings dam. However, other levels of subsequent dikes and the starter dike were also damaged to varying degrees. The company is conducting a comprehensive inspection and assessment of all 19 levels of subsequent dikes and the starter dike of the tailings dam, and is making permanent repairs and reinforcements to the dam. The repairs and reinforcement construction are expected to be completed by the end of July, 2023. Following the completion of the construction, the company will conduct a safety assessment of the entire tailings pond and submit an assessment report to the regulatory authority by the end of August, 2023. The government regulators will decide when to grant permission to resume production based on the assessment report.

Due to the uncertainty of the date of resumption of production at Jiama mine, the company is withdrawing its annual production guidance for 2023, as set out in the press release of the company dated Jan. 20, 2023. Once the impact of tailings overflow on the operation can be more clearly evaluated, the company will reissue the production guidelines. However, the company notes that production operations at its Chang Shan Hao gold mine are normal and stable.

About China Gold International Resources Corp. Ltd.

China Gold International Resources is a gold-mining and base-metal-mining company incorporated in British Columbia, Canada, and operates two mines: the Chang Shan Hao gold mine in Inner Mongolia, China, and the Jiama copper-gold 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.

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