China Gold International Resources Corp. Ltd. on 13 August 2026 approved a development plan from wholly owned subsidiary Tibet Huatailong Mining Development Co., Ltd. to advance the next phase of the Jiama Copper-Polymetallic Mine in the Tibet Autonomous Region, China.

The endorsed concept targets a step-change in scale, raising Jiama’s nameplate mining and processing capacity from the current 50,000 t/d to about 160,000 t/d through a transition to a “super pit” as the primary mining method. Implementation remains contingent on the findings of an ongoing Preliminary Feasibility Study (PFS), internal reviews and regulatory approvals. Completion of the PFS is expected by year-end 2026, after which a formal investment decision will be considered.

Key operational features

• Mining strategy: Shift from combined open-pit and underground operations to a single integrated super-pit model, aimed at higher efficiency and economies of scale. • Continuity of production: Based on present planning, no material impact on existing output is anticipated during the construction phase. • Tailings infrastructure: The Youlongbu Tailings Storage Facility, under construction, is slated for completion by end-2027 and is not expected to constrain ramp-up. Long-term tailings requirements will be refined during the PFS. • Licence integration: The plan envisages coordinated development of the current mining licence and adjacent exploration licence areas.

Updated resources and reserves (effective 30 June 2026)

• Total Measured & Indicated Mineral Resources stand at 1.34 billion tonnes grading 0.69 % Cu, 0.03 % Mo, 12.60 g/t Ag and 0.29 g/t Au. Contained metals amount to 9.15 million tonnes of copper, 540,620 tonnes of molybdenum, 12.45 million ounces of silver, 905,250 tonnes of lead and 498,550 tonnes of zinc. • Inferred Resources total 454.70 million tonnes at 0.65 % Cu, 0.03 % Mo, 12.53 g/t Ag and 0.28 g/t Au, containing 2.99 million tonnes of copper. • Proven & Probable Underground Reserves amount to 538.50 million tonnes at 0.96 % Cu and 1.61 % CuEq, hosting 5.17 million tonnes of copper, 215,400 tonnes of molybdenum, 353.70 million ounces of silver and 8.31 million ounces of gold. • Proven & Probable Open-Pit Reserves add 112.74 million tonnes at 0.49 % Cu and 0.61 % CuEq, containing 0.55 million tonnes of copper.

Pricing and recovery assumptions underpinning the reserve estimate include a copper price of USD 4.66/lb, molybdenum at USD 20/lb, silver at USD 40/oz and gold at USD 2,890/oz, with metallurgical recovery factors of 85 % for both open-pit and underground processing.

Management commentary

Chairman and CEO Mr. Chenguang Hou described the development approval as “an important milestone” in the company’s long-term growth strategy, reaffirming the intent to unlock further value from Jiama and the Chang Shan Hao (CSH) gold mine through disciplined organic expansion.

Next steps

• Completion of the PFS by end-2026 to determine optimal mine design, capital requirements and project economics. • Filing of an updated NI 43-101 Technical Report, incorporating the new resource and reserve estimates, on SEDAR+ within 45 days.

The current approval does not constitute a final investment decision; progression remains subject to PFS outcomes and requisite approvals.