China Gold International Resources Management Approves Jiama Development Plan -"Super Pit" Development Plan Targets Processing Capacity of Approximately 160,000 tpd

China Gold International Resources Corp. Ltd. (CGG) has approved a development plan to expand the mining and processing capacity of its Jiama Copper-Polymetallic Mine in Tibet from 50,000 tonnes per day (tpd) to approximately 160,000 tpd. This expansion is contingent upon the completion of a Preliminary Feasibility Study (PFS) and the receipt of necessary regulatory approvals. The strategy involves transitioning from a combined open pit and underground mining approach to a "super pit" mining method to enhance operational efficiency and economies of scale.

The company also released updated Mineral Resource and Mineral Reserve estimates as of June 30, 2026, which form the basis for the proposed expansion. Total Measured and Indicated (M&I) Mineral Resources stand at 1,335 Mt at 0.69% CuEq, while Total Mineral Reserves are reported at 651.24 Mt. The development plan scope includes the integration of existing mining license and adjacent exploration license areas. No material impact on existing production is expected during construction, subject to final configuration. The Youlongbu Tailings Storage Facility is expected to be completed by the end of 2027 and is not expected to be a bottleneck.

The Preliminary Feasibility Study is expected to be completed around the end of 2026. It will evaluate the optimal mine plan, engineering configuration, capital requirements, and project economics. The company noted that the approval of the development plan does not constitute a final investment or construction decision.

Updated Mineral Resources as of June 30, 2026, utilized a cutoff grade of 0.3% Cu. The data is detailed below:

• Total M&I Resources: 1,335 Mt at 0.69% Cu, 0.03% Mo, 12.6 g/t Ag, 0.29 g/t Au, 0.07% Pb, 0.04% Zn, and 1.12% CuEq.
  • Mining License Area M&I: 1,164 Mt at 0.72% CuEq.
  • Exploration License Area M&I: 170.8 Mt at 0.69% CuEq.
• Total Inferred Resources: 454.7 Mt at 0.65% CuEq.

Updated Mineral Reserves as of June 30, 2026, are presented below:

• Underground Reserves: 538.5 Mt (Proven: 233.2 Mt; Probable: 305.3 Mt) at 0.96% Cu, 0.04% Mo, 20.43 g/t Ag, 0.48 g/t Au, and 1.61% CuEq.
• Open-Pit Reserves: 112.74 Mt (Proven: 77.72 Mt; Probable: 35.02 Mt) at 0.49% Cu, 0.02% Mo, 4.44 g/t Ag, 0.05 g/t Au, and 0.61% CuEq.
• Total Reserves: 651.24 Mt.

Technical assumptions and methodology for the estimates include 5% dilution, 95% recovery, a 43-degree slope, and 85% processing recovery for open-pit operations. Underground operations assumed 12% dilution, 15% loss, and 85% beneficiation yield. Metal prices used in the analysis were Cu $4.66/lb, Mo $20/lb, Ag $40/oz, and Au $2,890/oz. The CuEq formula applied was Cu + 0.01Ag + 1.69Mo + 0.79*Au.

The Qualified Persons for the resources are Tony (Yingting) Guo, PhD, PGeo and Chaoxian (Ian) Zhou, MSc, while Dr. Siwei He is the Qualified Person for the reserves. The reporting standards applied are NI 43-101 and CIM Standards. A National Instrument 43-101 Technical Report will be filed on SEDAR+ within 45 days.

Mr. Hou Chenguang, Chairman and CEO, stated: “The approval of the advancement of the next phase of Jiama's development marks an important milestone in the Company's long-term growth. Our strategy has always been clear—to create sustainable shareholder value through disciplined organic growth by maximizing the value of our existing assets. Jiama and CSH remain the foundation of that strategy. This project reflects our confidence in Jiama's long-term future and our commitment to delivering on the strategic objectives we have communicated to the market.”