China Gold International Resources Corp. Ltd. provided an update on the operations of its Jiama copper-gold polymetallic mine. Reference is made to the Company's announcement dated on March 31, 2023.

On May 27, 2023, an overflow occurred at the Guolanggou Tailings Dam at Jiama Mine (the "overflow"). The Company quickly contained and repaired the breach to ensure no damage to the environment or neighboring communities. Subsequent to the overflow, 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 re-start of production. The overflow occurred at the top 19th subsequent dyke of the Guolangou Tailings Dam. However, other levels of subsequent dykes and the starter dyke were also damaged to varying degrees.

The Company is conducting a comprehensive inspection and assessment of all 19 levels of subsequent dykes and The starter dyke of the tailings dam and is making permanent repairs and reinforcement construction is 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 announcement of the Company dated January 20, 2023. Once the impact of tailings overflow on the operation can be more clearly evaluated, the Company will re-issue the production guidelines. However, the Company notes that production operations at the Company's CSH gold mine are normal and stable.