VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 3, 2011) - China Gold International Resources Corp. Ltd. (News - Market indicators)(SEHK:2099) (the "Company") is pleased to announce that the Company's largest shareholder, China National Gold Group has purchased 412,700 shares of the Company on the open market taking advantage of the recent share price decline and demonstrating its continuing confidence of the Company's strategy moving forward. This is the second time for China National Gold Group to buy the shares of the Company within this year.
Dr. Xin Song, CEO of the Company, commented, "This acquisition reaffirms to the market China National Gold Group's confidence in CGG and its goal for the Company to become a premier mining company. The coming months should prove to be exciting for the Company with NI 43-101 compliant resource updates on both of its operations with the expectation to expand resources and production."
As a result of the share acquisition, China National Gold Group owns 155,794,830 shares, representing approximately 39.33% of the issued and outstanding shares of the Company.
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 (News - Market indicators) 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, 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.
