China Gold International Resources Commences Drilling at CSH Gold Mine
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/30/11 -- China Gold International Resources Corp. Ltd. ('the 'Company') (TSX: CGG)(HKSE: 2099) is pleased to announce that it has commenced a major drill campaign at its Chang Shan Hao (CSH) gold mine in Inner Mongolia, China as of May 20th 2011. The new drill program consists of approximately 55,000 meters of diamond drilling in over 100 drill holes. Currently 11 drill rigs are turning at the mine site. The focus of the drill program is to delineate more resources at depth with expectation to further expand the current mining capacity. The total budget for the drill program is approximately 50 million RMB (about US$7.7 million).
Dr. Xin Song, CEO for China Gold International commented that the mineral resource at CSH has the potential to be greatly increased after this drill campaign and that the strategy to further expand our mining and processing capacities at the CSH gold mine is one of the company's primary goals.
About China Gold International Resources Corp. Ltd.:
China Gold International Resources Corp. Ltd. (the 'Company') is a mineral development company focused on acquisitions, exploration, development, mining and processing of gold and other non-ferrous metals. The Company is listed on the Toronto Stock Exchange (TSX: CGG) and the Main Board of the Stock Exchange of Hong Kong Limited (the 'Hong Kong Stock Exchange') (HKEx: 2099). The Company has been designated as the overseas flagship vehicle of China National Gold Group Corporation, the only gold producer in China directly controlled by the State-owned Assets Supervision and Administration Commission of the State Council.
Forward-looking statements
Certain statements made herein, and other statements relating to matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute 'forward-looking information' within the meaning of applicable securities legislation. Forward-looking information and statements are typically identified by words such as 'anticipate', 'could', 'should', 'expect', 'seek', 'may', 'intend', 'likely', 'plan', 'estimate', 'will', 'believe' and similar expressions suggesting future outcomes or statements regarding an outlook. All such forward-looking information and statements are based on certain assumptions and analysis made by China Gold International Resources Corp. Ltd.'s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading 'Risks and Uncertainties' elsewhere in the Company's MD&A filed at www.SEDAR.com. The reader is cautioned not to place undue reliance on forward-looking information or statements. Except as required by law the Company does not assume the obligation to revise or update these forward looking statements after the date of this document or to revise them to reflect the occurrence of future, unanticipated events.
Contacts:
China Gold International Resources Corp. Ltd.
Frank Lagiglia
Investor Relations Manager
1.778.668.9883
info-chinagoldintl@chinagoldintl.com
www.chinagoldintl.com