China Gold International Announces Senior Management and Board of Director Changes
VANCOUVER, British Columbia, Nov. 14, 2018 (GLOBE NEWSWIRE) -- China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (“China Gold International Resources” or the “Company”) wishes to announce that, on November 13, 2018, its Board of Directors accepted the following changes in senior management and board composition:
1. Mr. Bing Liu has resigned as Chief Executive Officer (“CEO”) and Executive Director of the Company.
Mr. Bing Liu served as a Non-Executive Director from May 2008 to February 2014 when he was appointed as Chief Executive Officer and an Executive Director. Mr. Liu has played a major role in the success of the Company. Mr. Liu has tendered his resignation in order to devote his time to a new position within China National Gold Group Co. Ltd. (“CNG” or “China National Gold”), the Company’s largest shareholder.
The Company wishes to express its sincere appreciation to Mr. Liu for his service and all he has accomplished as CEO. We wish Mr. Liu all the best in his new endeavors and will always be grateful for his leadership.
2. Mr. Lianzhong Sun has resigned as Non-Executive Director of the Company.
Mr. Lianzhong Sun has served as Non-Executive Director since February 2014. Mr. Sun also served as Vice President of China National Gold, the Company’s principal shareholder and the largest gold producer in China, since 2011, where he was mainly responsible for resources development. Mr. Sun’s resignation represents a general retirement from all positions at CNG.
The Company wishes to express its gratitude to Mr. Sun’s for his contributions to the Company during his tenure of office.
3. Mr. Liangyou Jiang has been appointed as CEO of the Company.
Mr. Jiang joined the Company in August 2010 and has moved quickly through the Company’s ranks. He started as General Manager of Tibet Huatailong Mining Development Corp. Ltd. ("Tibet Huatailong"), the Company's wholly-owned subsidiary, and in February 2012 was appointed as Chairman of Tibet Huatailong. On August 18, 2014, he was appointed Senior Executive Vice President and on October 23, 2014 he joined the Board of Directors of the Company. In addition, Mr. Jiang served as Vice-President of CNG since July 2018, manager of Oversea Operation Department of CNG from December 2015 to July 2018, and Director of China National Gold Group Hong Kong Limited, CNG’s wholly-owned subsidiary, since October 2018. From September 2007, Mr. Jiang served as the Head of the Engineering Management Division of the Investment Management Department of CNG, and in February 2008 he was appointed as a Manager of the Investment Management Department. Mr. Jiang is a senior professional engineer, holds a bachelor's degree in mineral processing from Northeastern University.
Mr. Jiang has been a key part of management and the Board extends its warmest welcome as Mr. Jiang moves into his new leadership role.
4. Ms. Fuzhen Kang has been appointed as Non-Executive Director of the Company.
Ms. Kang joined Tibet Huatailong in July 2008 in a number of community communications roles. She holds a bachelor’s degree in environmental science from the Tibet University.
The Board would like to express its warmest welcome to Ms. Kang on her appointment.
5. Mr. Yongqing Teng has been appointed as Non-Executive Director of the Company.
Mr. Teng currently serves as Deputy General Manager of China National Gold Group Hong Kong Limited, a wholly owned subsidiary of CNG (since October 2017), Executive Director and General Manager of China Gold Group Sichuan Co., Ltd. (since October 2017), Bureau Director of Sichuan Gold Industry Administration Bureau (since November 2015), and President of Sichuan General Investment Co., Ltd. (since November 2015). Prior to this Mr. Teng served as Manager of China Gold Sichuan Company from November 2015 to November 2017. He joined Tibet Huatailong, the Company’s wholly-owned subsidiary, in August 2010 where he served as Deputy General Manager until he was appointed General Manager in February 2012 and subsequently appointed Chairmanin August 2014. He served in this capacity until November 2015. Mr. Teng has over 30 years’ experience working in engineering and operations roles in the gold mining sector in China.
The Board would like to express its warmest welcome to Mr. Teng on his appointment.
6. Mr. Zhongxin Guo has been appointed as the Chief Engineer of the Company.
Mr. Guo is a professional engineer with over 35 years’ experience in engineering studies, mine engineering and mine operations. He has served as a senior mining engineer and director of technical services for the Company since 2014. Previously Mr. Guo held senior mining engineer positions with global mining engineering consulting companies, working on a variety of projects for a wide range of clients, including some of the world’s largest mining companies. He also held the position of engineering director with the Mine and Gold Branch, Changsha Engineering and Research Institute of Nonferrous Metallurgy, leading design and consultancy of key national and provincial / ministry projects in China. In addition, he also assumed responsibilities of leading China’s strategic planning initiatives for development at new and existing nonferrous metals mines and smelters. Mr. Guo will serve as the Company’s internal qualified person for purposes of National Instrument 43-101 of the Canadian Securities Administrators.
Mr. Liangyou Jiang, the Company’s new CEO, stated: “I would like to thank Mr. Liu for his leadership and dedication to the Company and, in particular for bringing both Series I and Series II of the Jiama Phase II expansion into commercial production during his tenure. We welcome Ms. Kang and Mr. Teng to the Company’s board of directors and look forward to their contributions as the Company brings more diverse viewpoints to the board.”
About China Gold International Resources
China Gold International Resources Corp. Ltd. is based in Vancouver, BC, Canada and operates both profitable and growing mines, the CSH Gold Mine in Inner Mongolia, and the Jiama Copper-Polymetallic Mine in Tibet Autonomous Region of the People’s Republic of China. The Company’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 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).
Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although China Gold International Resources believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. China Gold International Resources cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what China Gold International Resources currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.