VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 5, 2011) - China Gold International Resources Corp. Ltd. ("China Gold International" or the "Company"), (News - Market indicators)(HK:2099), is pleased to announce the 2011 exploration plan for its Jiama Copper-Gold poly-metallic project in Tibet, China. The plan has been approved by the Board and Management of China Gold International. Due to the encouraging results from the 2010 exploration program (refer to news release dated January 5, 2011), the Company has adopted an aggressive program that expands on results achieved to date (estimation of the mineral resource to 43-101 standards based on 2010 drilling results has commenced and estimation to Chinese standards has been completed). The new exploration program consists of 31,200 meters of drilling with a total of 56 Diamond drilling holes conducted in three phases and with a budget of USD $5.6 million (37.35 million RMB Yuan). It will focus on four targets in the 3km long three-in-one stacked system comprising Hornfels (top), Skarn, and Porphyry (base) mineralized bodies. The first target is in-fill drilling to complete 100x100m and 200x100m spacing in the central part of the Skarn mineralized body. The aim of this drilling is to upgrade the current inferred and indicated resources to the indicated and measured category. The second target is further drilling work surrounding the existing stand-alone quartz-diorite porphyry gold mineralized body and gold-rich Skarn type mineralized body which was discovered during the 2010 drilling program (refer to news release dated January 5, 2011). The aim of this drilling is to define a reasonable size gold or gold rich deposit. The third target is to define the NE Boundary of the Skarn mineralized body. The fourth target is to explore the porphyry mineralized body in the center of the mineralized zone by drilling to 2000m depth. A magneto-telluric geophysical survey may be conducted to define the extent of the deep porphyry system and guide selection of the deep drill holes.
"The key objectives of this aggressive drilling plan are to further define the mineralized zone on the property that we believe may host a meaningful gold deposit, further expand and upgrade the existing resource base and investigate the deep porphyry copper-molybdenum mineralized body at the Jiama Project both down depth and along strike. We believe there is significant potential for substantial growth of the Jiama project resource base," said China Gold's International's CEO, Dr. Xin Song.
This drill program will start in April and is scheduled for completion by November, 2011. Initial results from the drilling program are expected by the end of year 2011.
Qualified Person
Ying Ting (Tony) Guo, Ph.D, P.Geo., a consulting geologist from Behre Dolbear Asia, and Qualified Person as defined by National Instrument 43-101 has supervised the preparation of the scientific and technical information and verified the data supporting such scientific and technical information contained in this news release.
About China Gold International Resources Corp. Ltd.:
China Gold International Resources Corp. Ltd. is a mining company whose principal properties are the CSH gold mine and the Jiama copper poly-metallic Mine in China. The Company's shares are listed on the TSX under the symbol "CGG" and on the HKSE under stock code "2099". China National Gold Group Corporation, a Chinese state-owned enterprise owns approximately 39% of China Gold International Resources Corp. Ltd.'s shares.
Forward-looking statements
Certain statements made herein, including the size and scope of the 2011 drill program at Jiama and anticipated results, 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.
