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China Gold International Resources Corp Ltd Announces Completion Of Mineral Resource And Reserve Estimate Update And Ni43-101 Technical Report For Jiama Copper Polymetallic Project
China Gold International Resources Corp. Ltd. announced that it has completed mineral resource and reserve estimate update and the NI43-101 Technical Report with respect to the Mineral Resource and Reserve Estimates Update for the Jiama Copper Polymetallic Project in Tibet Autonomous Region, the People’s Republic of China. Following an extensive exploration campaign, the company has completed a major update to the Mineral Resource and Mineral Reserve estimates for the Jiama Copper Polymetallic Project. The updated Mineral Resource significantly expands the Project's scale and development potential, providing a robust foundation for future production expansion, mine life extension and further technical studies on larger-scale mining scenarios. The updated Mineral Resource and Mineral Reserve estimates have been depleted to account for production up to December 31, 2025. The significant increase in the updated estimates reflects the success of the company's multi-year exploration programs, which have substantially expanded the known mineralized system and delineated additional mineral resources and reserves at depth and in surrounding areas of the Jiama Project. Measured mineral resource increased 523% from 100 Mt to 623 Mt. Total mineral resource of metal amounts has increased significantly. Compared with resource estimate in 2012 by Mining One, the Measured and Indicated resources are 1,335 Mt with copper metal increasing by 3 million tonnes, gold by 7.12 million ounces, silver by 247.23 million ounces. The inferred resources are 454.7 Mt with copper metal increased by 1.74 million tons, gold by 2.72 million ounces, silver by 116.3 million ounces. The average grade of the updated Measured Mineral Resources is 0.69% Cu or 1.12% CuEq, while the average grade of the updated Inferred Mineral Resources is 0.65% Cu or 1.09% CuEq. Total reserve increased 51% from 440 Mt to 665 Mt. Compared to the 2013 Reserve Estimates by Mining One, the current open-pit ore reserves have dropped from 240 million tons to 110 million tons although it still can support more than 20 year mine life for two current open pit operation at the current mining capacities. Underground ore reserves have increased from 200 million tons in 2013 to 550 million tons, copper metal from 1.47 million tons to 5.2 million tons, molybdenum from 100,000 tons to 220,000 tons, gold from 2 million ounces to 8 million ounces, and silver from 88 million ounces to 354 million ounces. The average grade of the updated Mineral Reserve is 0.86% Cu or 1.40% CuEq. The new mineral resource provides basis for further studies on the proposed large open pit studies on the Jiama project. Jiama Copper polymetallic Project is a large metallic deposit of copper, molybdenum, gold, silver, lead, and zinc. Tibet Huatailong Mining Development Company, a subsidiary of China Gold International Resources Corporation, owns 100% of the Jiama project. Development of the Jiama copper polymetallic mine began at the beginning of this century. The first phase of the Jiama project's Tongqianshan and Niumatang open pit mine began commercial operation in 2010. The Phase II development and expansion was completed in 2018. Currently, the Jiama project is operating at a production rate of 34,000 tons per day and is expected to return to its designed capacity of 50,000 tons per day in 2028. Currently, Huatailong runs two open-pit mines and two underground mining districts in one underground mine at Jiama. The Jiama mining area is in the Gangdise Cu, Mo, Pb, Zn, Au and Ag metallogenic belt of the Tethys-Himalayan orogenic region, one of the world's major porphyry copper ore-forming regions. Mineral Resources are reported inclusive of Mineral Reserves. All Mineral Resource Estimates including Cu, Mo, Au, Ag, Pb, and Zn grade and their tonnages have been rounded to reflect the imprecise nature of the estimates for each classification category, therefore totals may not appear to sum correctly due to rounding. Tony (Yingting) Guo, PhD, PGeo and Chaoxian (Ian) Zhou, MSc estimated the Mineral Resources. This Mineral Resource Estimation (MRE) was estimated with an effective date of June 30, 2026, and depleted to account for annual production up until December 31, 2025. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. For the two existing open pit mining operation and two mining areas of the underground mine at Jiama, a Mineral Reserve estimate, dated effective June 30, 2026, has been completed by CGDI in accordance with the CIM Definition Standards and Best Practice Guidelines under NI43-101. The mineral reserves report date is June 30, 2026. All mineral reserves are determined according to the CIM standard specified in Canadian National Standard 43-101. Mineral reserves are estimated based on the following mining and economic factors: Open-pit mining: a) mining methods use a 5% dilution factor and a 95% mining recovery rate; b) The overall open-pit slope is 43 degrees; c) Copper price at $4.66 per pound; d) Overall copper processing and recovery rate is 85%. Underground mining: a) Mining dilution by 12%; b) Mining losses by 15% c) Beneficiation yield of 85%. Mineral reserves: Open-pit copper equivalent grade 0.61% CuEq, underground copper equivalent grade 1.56% CuEq; CuEq=Cu+0.01Ag+1.69Mo+0.79*Au; Cu, $4.66/lb, Mo, $20/lb, Ag, $40/oz and Au, $2,890/oz. The mineral reserve estimate was prepared by Dr. Siwei He, an external consultant at CGDI. He is a qualified QP under the Canadian NI43-101 standard. A Technical Report titled "NI43-101 Technical Report for the JIAMA Copper Polymetallic Mine, Tibet Autonomous Region, the People’s Republic of China" with an effective date of June 30, 2026 has been prepared by CGDI and will be filed on SEDAR+. Mr. Tony Guo, a geology consultant to CGDI, a registered geologist (P.Geo) from the Province of British Columbia, Canada, a QP member of the American Mining and Metallurgical Association, and a Qualified Person as defined by NI43-101, reviewed the data supporting the Mineral Resource and Mineral Reserve estimates. He also supervised the estimation work and reviewed all sections of the Technical Report relating to resource and reserve estimates. Mr. Guo has approved the scientific and technical information in this release pertaining to the Jiama Project’s Mineral Resources and Mineral Reserves. Dr. He Siwei, a mining engineering consultant to CGDI, a registered Mining Engineer (P.Eng) from the Province of British Columbia, Canada, a Qualified Person as defined by NI43-101, has reviewed the data for the Mineral Reserves estimates and completed the Reserves estimate of this Technical Report. Mr. He has approved the scientific or technical information pertaining to the Jiama Project’s Mineral Reserves in this release.