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Press release from Business Wire

China Gold International Provides 2011 Year-End Results and 2012 Outlook

Thursday, March 29, 2012

China Gold International Provides 2011 Year-End Results and 2012 Outlook09:30 EDT Thursday, March 29, 2012 VANCOUVER, British Columbia (Business Wire) -- China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (the “Company”) is pleased to report on the Company's financial and operational results for 2011. To review details of the financial statements and the management discussion and analysis for the year ended December 31, 2011, please visit the Company's website at www.chinagoldintl.com or go to www.sedar.com. 2011 Highlights: The Company's revenue increased by 134% from US$133.2 million in 2010 to US$311.3 million in 2011. The Company's total comprehensive income increased by 217% from US$27.4 million in 2010 to US$86.8 million in 2011. Gold production from the CSH mine increased by 20% from 111,289 ounces in 2010 to 133,541 ounces in 2011. The Jiama mine produced 9,781 tonnes (21,563,193 pounds) of copper in copper concentrate in 2011, successfully completing the first full year of commercial production. The 2010 drill program at the Jiama mine upgraded a significant amount of its inferred resource to the measured and indicated (“M&I”) resources. As a result, the total M&I resources increased to 1,006.0 million tonnes, containing 4.08 million tonnes of copper. Basic earnings per share increased by 45% from US 13.82 cents in 2010 to US 20.04 in 2011 Dr. Xin Song, CEO of the Company commented “During 2011, we continued to make significant progress with operations, delivering production growth and strong financial results. The Company generated record earnings on revenues which increased by 134% from US$133.2 million in 2010 to US$311.3 million in 2011. The significant increase is attributed to improved recovery rates for gold and copper, increased production at both mines and higher average commodity prices in 2011 compared to 2010.” The Company is also pleased to report that the sale of the Company's Dadiangou Gold Project to Gansu Zhongjin Gold Mining Co. Ltd. was completed in February 2012. The Company and its joint venture partner had agreed to sell the Dadiangou Gold Project for a purchase price of approximately Cdn.$13.1 million, of which the Company was entitled to 53%, or approximately Cdn.$7 million. Final completion of the transaction remained subject to regulatory approvals and the Company's portion of the purchase price has now been released from escrow. The Company's outlook for 2012 remains positive with the objective of increasing production at its operating mines and acquiring additional projects with support from the Company's largest shareholder, China National Gold Group Corporation. The 2012 production guidance for the CSH mine is 130,000-135,000 ounces of gold. The 2012 production guidance for the Jiama mine is 9,800-11,500 tonnes (21,599,200 - 25,346,000 pounds) of copper. About China Gold International China Gold International Resources Corp Ltd is based in Vancouver, BC, Canada and operates both the CSH Gold Mine in Inner Mongolia, and the Jiama Copper-Polymetallic Mine in Tibet Autonomous Region of China. CGG's objective is to continue to build shareholder value by growing production at its current mining operations, expanding its resource base, and aggressively acquiring and developing new projects in China and 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). Forward-looking statementsCertain statements made herein, 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.China Gold International Resources Corp. Ltd.Stefanie Makagon, Investor Relations Manager+1-604-695-5032+86.10.8413.5708stefaniem@chinagoldintl.comwww.chinagoldintl.com