VANCOUVER, March 27, 2025 – TheNewswire - China Gold International Resources Corp. Ltd. (TSX: CGG; HKEX: 2099) (“China Gold International Resources” or the “Company” ) is pleased to report 2024 Year-End Results and declare dividend.

FINANCIAL, PRODUCTION AND OPERATION HIGHLIGHTS

2024 FOURTH QUARTER

•        Revenue increased by 312% to US$293.6million compared to US$71.3 million for the same period in 2023.

•        Mine operating earnings of US$122.2 million, increased by US$124.1million from mine operating loss of US$1.9 million for the same period in 2023.

•        Net income of US$68.3million increased by US$85.8million from net loss of US$17.5 million for the same period in 2023.

•        Cash flow from operation of US$62.7million, increased from cash used in operation of US$20.9 million for the same period in 2023.

•        Total gold production increased by 137% to 60,406 ounces from 25,500 ounces for the same period in 2023.

•        Total copper production was 44.1 million pounds (approximately 20,020 tonnes), increased from 184,077 pounds (approximately 83 tonnes) for the same period in 2023.

2024 ANNUAL RESULTS

•        Revenue increased by 65% to US$756.6million compared to US$459.4 million for the same period in 2023.

•        Mine operating earnings of US$186.9 million, increased by US$106.5 million from mine operating earnings of US$80.4 million for the same period in 2023.

•        Net income of US$65.3 million increased by 88.3million from net loss of US$23.0 million for the same period in 2023.

•        Cash flow from operation of US$306.9 million, increased by US$305.3 million from US$1.6 million for the same period in 2023.

•        Total gold production increased by 10% to162,652 ounces from 147,963 ounces for the same period in 2023.

•        Total copper production was 105.7 million pounds (approximately 47,929 tonnes) which increased by 139% from 44.2 million pounds (approximately 20,051 tonnes) for the same period in 2023.

NEW DIVIDEND POLICY

The Company's dividend policy is a key component of its long-term growth strategy. It aims to optimize capital allocation to drive business expansion while maintaining stable returns for shareholders. After successfully distributing special dividends for three consecutive years (2021–2023), the Company is introducing an enhanced dividend policy designed to enhance predictability and attract long-term investors seeking a reliable income stream.

The revised dividend policy is comprised of a base dividend supplemented by a variable component that adjusts based on financial performance and market conditions.

Basic dividend: Subject to profitability in the previous financial year and after assessing the Company's cash flow position and future capital requirements, the Company aims to distribute a basic dividend at a payout ratio of 30% of the net profit from the preceding financial year, with cash dividends paid annually.

Variable Component: Subject to favorable market conditions and sufficient funds, the Company may distribute special dividends in addition to the basic dividend.

 

Dividends may vary in amount and consistency or be discontinued at the Board of Directors' discretion depending on variables including but not limited to operational cash flows, Company development requirements and strategies, spot metal prices, taxation, general market conditions and other factors.

 

DECLARATION OF DIVIDENDS

 

In respect of the Company’s financial performance for the year ended 31 December 2024, the Company is pleased to announce the declaration of following dividends:

 

Basic dividend: a cash dividend of US$0.05 per share will be paid to shareholders at a payout ratio of 30% of the net profit of the Company for the year ended 31 December 2024;

 

Special dividend: In addition to the basic dividend, a one-time special dividend of US$0.03 per share will be paid to shareholders.

 

A total dividend amount of US$0.08 per share is hereby declared on the outstanding common shares of the Company. The basic and special dividend are expected to be payable on June 18, 2025 to shareholders of record as of April 23, 2025.

 

The basic and special dividend qualifies as an “eligible dividend” for Canadian income tax purposes while dividends paid to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes. Withholding rate will be subject to Canadian non-resident withholding tax rules including the tax treaty between Canada and the country of shareholder's residence which is reflected in NR301 Form. The Company encourages shareholders to fill out and submit NR301 Form.

The Company's Chairman and CEO, Mr. Chenguang Hou, said, "2024 has been a year of overcoming challenges and reigniting growth. With the team's dedication and resilience, we completed the comprehensive restoration of the Guolangou Tailings Dam, resumed production in June and achieved a turnaround in the third quarter, returning to profitability. This remarkable path to resurgence underscores our team's dedication and the Company's resilience and potential.

 

We have also established a balanced shareholder return framework that prioritizes returning capital through a stable base dividend while maintaining financial flexibility for future growth. We are committed to delivering on our objectives, maintaining transparency, and sustaining a strong financial position for the benefit of our shareholders."

 

About China Gold International Resources

China Gold International Resources is a gold and base metal mining company incorporated in BC, Canada and operates two mines, the Chang Shan Hao Gold Mine in Inner Mongolia, China and the Jiama Copper-Gold Polymetallic Mine in Tibet, China. The Company’s objective is to build shareholder value through growing production at its current mining operations, expanding its resource base, and 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).

For further information on the Company, please refer to SEDAR’s website at www.sedar.com, The Stock Exchange of Hong Kong Limited’s website at www.hkex.com.hk, the Company's website at www.chinagoldintl.com, or call the Company at +1-604-609-0598 and email to info@chinagoldintl.com.

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.