China Gold International Resources Corp. Ltd.
SEHK : 2099

China Gold International Resources Corp. Ltd.

July 22, 2011 08:00 ET

Release of Loan Guarantees Provided by China National Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2011) - China Gold International Resources Corp. Ltd. (TSX:CGG)(SEHK:2099) (the "Company") is pleased to announce that as of June 1, 2011 the project lenders (Agriculture Bank of China, Bank of China, and a syndicate of banks comprised of the Bank of China, China Development Bank, and Agriculture Bank of China) for the Company's RMB 1.74 billion (US$254.51million) loan facilities have agreed to release China National Gold Group Corporation ("China National Gold"), the Company's controlling shareholder, from its guarantees on the loans. The guarantees will be replaced by a direct security interest over relevant mining rights and assets at Jiama mine and CSH mine in favour of the lenders. The release represents a demonstration of intense confidence by these senior Chinese lenders in the strength and value of the Company's mineral assets and the continuing improvement of the Company's business operations.

About China Gold International Resources Corp. Ltd.:

The Company is a mineral development company focused on acquisitions, exploration, development, mining and processing of gold and other non-ferrous metals. The Company is listed on the Toronto Stock Exchange (TSX:CGG) and the Main Board of the Stock Exchange of Hong Kong Limited (SEHK:2099). The Company has been designated as the overseas flagship vehicle of China National Gold, the only gold producer in China directly controlled by the State-owned Assets Supervision and Administration Commission of the State Council.

Forward-looking statements

Certain statements made herein, including the timing of release of the loan guarantee 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 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.

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