China Gold International Resources Corp. Ltd. announced that Mr. Liangyou Jiang has informed the Board that he is resigning as Executive Director, Chairman and Chief Executive Officer of the Company with effect from 27 October 2022. Mr. Jiang has served as the Company's CEO since 2018 and Chairman since 2020.

PreviouslyMr. Jiang served as General Manager, and later, as Chairman of Tibet Huatailong Mining Development Corp. Ltd. ("Huatailong"), the Company's wholly-owned subsidiary which owns the Jiama Copper Gold Poly-metallic Mine. Under Mr. Jiang's leadership, the Company achieved a number of key growth milestones.

The Company has achieved its best ever operation results, the financial performance of the Company has continued to improve, and the market capitalization has also risen substantially. The Company has proven to be a solid mining enterprise in terms of assets quality and growth potential. Mr. Jiang upheld and championed the Company's belief in value creation and returns to shareholders, making the Company's first dividend payment in its records for the fiscal year of 2020, winning the attention and recognition of the market.

Mr. Shiliang Guan has also resigned from his role of executive Director, Vice President of the Company and Member of Health, Safety and Environmental Committee with effect from 27 October 2022. The company appoint Mr. Junhu Tong, a current Director of the Company, as Chairman and CEO. Mr. Tong is re-designated from non-executive Director of the Company to executive Director of the Company with effect from 27 October 2022.

Mr. Tong, aged 59, has over 30 years of experience in the mining sector, including experience in business development, merger and acquisition, project management, technical advisory and management of mining operations. Mr. Tong currently serves as General Manager of CNG HK since December 2021. Since July 2009, Mr. Tong has served in variety of senior executive roles with CNG with proven track records.

Mr. Tong took a leading role or participated in successful acquisitions and transactions of over 5 large scale mining projects in Central Asia, Africa and China and serves as Chairman of one of those CNG-acquired projects to oversight its operation. Prior to his joining CNG, Mr. Tong served as Director and management in several mining companies, and he has extensive experiences in directorial and senior management. Mr. Tong has intimate knowledge about the Company as a Director, he also has maintained good working relationships in mining industry, and with financial institutions and regulators both in China and internationally.

Mr. Tong holds a Master's degree in Mining Engineering from Beijing Science and Technology University and Bachelor degree in Mining Engineering from Chongqing University. Mr. Tong is a senior mining engineer accepted as Qualified Person (QP) as defined by Institute of Mining and Metallurgy, Australia. Mr. Yuanhui Fu has been appointed as executive Director and Vice President of the Company to fill the vacancy for the position of executive Director following Mr. Guan's resignation with effect from 27 October 2022.

Mr. Fu, aged 43, is a senior geologist and has over 18 years of experience in the mining industry. Since December 2021, he has served as Chairman of Tibet Huatailong. From 2018 to 2021, Mr. Fu served as Deputy Manager of the Mineral Resources & International Cooperation Department of CNG.

From 2014 to 2018 Mr. Fu was Deputy Manager of CNG's Resource Company Ltd. and Chairman of AOYOUTE Mining Ltd., Wulantaolegai Mining Ltd., Xingyuan Non-Ferrous Metal Ltd. and Daolundaba Copper Ltd. Mr. Fu was deputy manager of Tibet Huatailong between 2012 and 2014. Before 2012, Mr. Fu also held a key role in Strategic Development Department in CNG. Mr. Fu holds Master degree in geochemistry from China University of Geosciences (Beijing) and Bachelor degree of Resource Exploration & Engineering.

Mr. Wanming Wang has been appointed as non-executive Director to fill the vacancy for the position of Director following Mr. Jiang's resignation with effect from 27 October 2022. Mr. Wang, aged 56, has 35 years of experience in finance and financial administration. Currently he is General Manager of the financial department in CNG HK since October 2018.

In the past three decades, Mr. Wang has also served as head of finance departments both at the CNG's head office and its subsidiaries with responsibilities including asset management, capital management, budgeting, accounting as well as asset securitization. Mr. Wang served as member of Board of Supervisors in following companies: Tibet Huatailong since 2020, Tibet Jia Ertong Mining Development Co. Ltd. since 2020.

Mr. Wang also served director of Board in Soremi Investments Ltd. since 2017, CNG Buqiuke Ltd. since 2019 and Zhongxin International Financial Leasing Co. Ltd. since 2016. Mr. Wang is a senior accountant and holds MBA degree from Asia International Open University.

Following the resignation of Mr. Jiang and Mr. Guan, Mr. Tong resigns as a member of the Nominating and Corporate Governance Committee of the Board, Mr. Fu is appointed as a member of the Health, Safety and Environmental Committee of the Board and Mr. Wang is appointed as a member of the Nominating and Corporate Governance Committee of the Board.