REG-China Nonferrous Gold Limited Production Resumed at Pakrut Gold Mine

China Nonferrous GoldAnnouncement

16/03/2023 17:30

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Production Resumed at Pakrut Gold Mine

 

China Nonferrous Gold Limited 中国有色黄金有限公司

(“CNG” or the “Company”)

Production Resumed at Pakrut Gold Mine

Resource review commissioned

China Nonferrous Gold Limited 中国有色黄金有限公司 (AIM: CNG), the
mineral exploration and mining company currently mining the Pakrut gold
project in the Republic of Tajikistan, is pleased to announced that the power
supply was re-established and production has resumed at the Pakrut mine site.

The Company is pleased to report that the electric power transmission tower
which was damaged by avalanches has been repaired therefore allowing the power
supply to be restored at the mine site. The Company has started to resume the
production of the processing plant and underground mining, primarily with the
normal power supply. It is expected that heavy trucks will not able to pass
through some sections on the road to the mine site until 20 March 2023.
Because the smelting plant has to collect sufficient gold concentrate to
guarantee continuous adequate supply, it is anticipated that the smelting
plant will not resume production until the end of March 2023 at the earliest,
a further announcement will be made when that occurs, however at this stage
the Company believes that notwithstanding this interruption it will be able to
recover annual gold production to similar levels to last year.

In addition, the Company confirms it has signed a service agreement for a
review of the resource estimate of the Pakrut Gold Mine by SRK (SRK Consulting
China Co., Ltd.). Given the geologically and complex nature of the Pakrut
deposit, SRK have been engaged to review and, where necessary, update the
resource estimation of Pakrut Gold Mine utilizing mining and production data.
Further updates will be provided once the result of this review is available.

For further information please visit the Company’s website (www.cnfgold.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.cnfgold.com&esheet=53363184&newsitemid=20230316005653&lan=en-US&anchor=www.cnfgold.com&index=1&md5=2e882f0fe11539421fee0529bbb09646)
) or contact:

China Nonferrous Gold Limited

Zhang Hui, Managing Director

Tel: +86 10 8442 6662

WH Ireland Limited (NOMAD & Broker)

Katy Mitchell (mailto:Katy.Mitchell@whirelandcb.com) , Andrew de Andrade

Tel: +44 (0)207 220 1666

BlytheRay (PR)

Tim Blythe, Megan Ray

Tel: +44 (0)20 7138 3224

The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation (EU) No.
596/2014



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China Nonferrous Gold Limited


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