REG-China Nonferrous Gold Limited Snowfall impacts production at Pakrut Gold Mine

China Nonferrous GoldAnnouncement

23/02/2023 14:45

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Snowfall impacts production at Pakrut Gold Mine

 

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

(“CNG” or the “Company”)

Snowfall impacts production at Pakrut Gold Mine

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, announces the area surrounding the
Pakrut gold mine site has experienced high levels of snowfall resulting in
several avalanches and landslides.

The Company is pleased to report that there have been no casualties at site
and the Pakrut site itself remains undamaged. However, the avalanches have
damaged one electric power transmission tower that supplies the mine resulting
in a consequential interruption of the power supply. In addition, the roads to
the site have been damaged. The lack of power means that the underground
mining and the processing plant have been suspended with immediate effect. It
is anticipated that operations will remain suspended for approximately one
month although further updates will be provided in due course, as appropriate.
The smelting plant is currently operating and processing existing stocks of
gold concentrate, however this operation will also be suspended from 28
February 2023 until the power issue is resolved. Accordingly, the Company
confirms there will be no production at site for at least one month with a
consequential impact on revenues and financial results. Further updates will
be provided once the power to site is restored.

The Company has deployed emergency maintenance teams to the area to urgently
carry out repair work on the road and to recover the power supply facilities.

The full impact of the avalanche and recovery work are still being evaluated
and the Company will provide an update in due course.

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=53341280&newsitemid=20230223005704&lan=en-US&anchor=www.cnfgold.com&index=1&md5=d9baa8f52198ed10c5dd5ec592350cac)
) 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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