VANCOUVER, Nov. 5, 2014 /PRNewswire/ - China Gold
International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (the
"Company" or "China Gold International Resources") is pleased to
report that test production runs at the Company's new additional
30,000 tpd heap leaching and processing system at Chang Shan Hao
Gold Mine (the "CSH Mine" or "CSH") have been successfully
completed and the results are in line with expectations. The
Company commenced commercial production on the facilities in
October 2014.
In 2014, the Company has gradually increased its mining rate
from 30,000 tpd to 60,000 tpd to meet the newly expanded crushing
capacity. The Company conducted extensive test runs on the new heap
leaching and processing system. Successful production of
approximately 6,241 ounces and 13,185 ounces of gold was achieved
in August and September respectively on the new facilities. October
output is expected to be higher.
The CSH Mine's gold production is expected to nearly double from
its 2013 level of 131,418 ounces per annum to about 260,000 ounces
per annum by 2016. As previously announced, the Company is
expected to produce about 165,000 ounces of gold in 2014.
Mr. Bing Liu, the CEO and Executive Director of the Company,
commented, "We are very content with rapid execution of our
expansion plans and with successful testing results on the new
facilities at CSH. CSH mine has made a tremendous progress to
put the new facilities into commercial production. I would like to
assure our board and shareholders that the Company is making
significant efforts to fulfill our previously released production
guidance."
Third Quarter 2014 Results
The Company expects to announce its third quarter 2014
operational and financial results on November 14, 2014.
Analysts, investors, media and general public are encouraged to
visit the Company's website, sedar.com or hkexnews.hk or contact
the Company with any questions.
About China Gold International Resources
China Gold International Resources Corp. Ltd. is based in
Vancouver, BC, Canada and operates both profitable and
growing mines, the CSH Gold Mine in Inner Mongolia, and the Jiama
Copper-Polymetallic Mine in Tibet Autonomous Region of the People's Republic of China. The Company's
objective is to continue to build shareholder value by growing
production at its current mining operations, expanding its resource
base, and aggressively 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).
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.
SOURCE China Gold International Resources Corp. Ltd.