Mr. Junhu Tong reports

CHINA GOLD INTERNATIONAL RESOURCES REPORTS 2024 FIRST QUARTER RESULTS

China Gold International Resources Corp. Ltd. has released financial and operational results for the three months ended March 31, 2024. This news release should be read in conjunction with the company's financial statements, notes to the financial statements, and management's discussion and analysis.

For detailed information, please read the company's financial statements and management's discussion and analysis for the quarter ended March 31, 2024, which are available on SEDAR+'s website, the Stock Exchange of Hong Kong's website or the company's website, call the company at 1-604-609-0598 or e-mail to info@chinagoldintl.com.

First quarter 2024 financial, production and operation highlights:

• Revenue decreased by 76 per cent to $60.5-million (U.S.) from $252.8-million (U.S.) for the same period in 2023;
• Mine operating loss of $11.5-million (U.S.), compared with mine operating earnings of $102.7-million (U.S.) for the same period in 2023;
• Net loss of $26.0-million (U.S.), compared with net income of $78.7-million (U.S.) for the same period in 2023;
• Cash flow from operation of $7.2-million (U.S.), compared with $127.7-million (U.S.) for the same period in 2023;
• Total gold production of 20,714 ounces, a decrease by 61 per cent from 52,827 ounces for the same period in 2023;
• Total copper production of 4.6 million pounds (approximately 2,093 tonnes) as partial production at the Jiama mine resumed on Dec. 15, 2023, compared with 44.1 million pounds (approximately 20,025 tonnes) for the same period in 2023.

The decrease in production and profit in the first quarter was mainly attributed to the suspension of operations of the Jiama mine and the lower-than-expected production of the CSH mine due to the cold climate and the lower mining rate last year. At present, the company is in preparations for the full resumption of production in the Jiama mine. It is expected that the company will obtain the government's final approval before the end of May, 2024.

The company's chairman and chief executive officer, Junhu Tong, stated: "The performance of the company in the first quarter of 2024 continued to be negatively affected by the suspension of Jiama mine operation. With the phase 1 processing plant at Jiama mine achieving stable production, we anticipate the phase 2 processing plant operation at Jiama mine to fully resume by the end of May, 2024, assuming that safety and environmental protection measures are fully implemented and accepted by the government. Despite the cold weather in the first quarter impacting CSH mine's production, we are confident that CSH mine's production will return to normal level in the second quarter. The development of CSH mine's underground resources is on schedule and has made significant progress. We will continue to operate our business with a high degree of responsibility. Thanks to our shareholders and stakeholders for their understanding and support."

About China Gold International Resources Corp. Ltd.

China Gold International is a gold and base metal mining company incorporated in British Columbia, 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 (CGG) and the main board of the Stock Exchange of Hong Kong (2099).

We seek Safe Harbor.