VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2009) - MincoGold Corporation (the "Company" or "Minco Gold") (TSX:MMM)(NYSEAmex:MGH)(FRANKFURT:MI5) is pleased to announce that it has enteredinto an agreement with Accel China Growth Fund II L.P. ("Accel") a fundunder management by IDGVC Capital Partners located in the PeoplesRepublic of China to purchase on a non brokered private placement of5,000,000 common shares in the capital stock of Minco Silver at a priceof CND$0.88 per share for an aggregate gross proceeds of up toCND$4,440,000 (the "Offering"). The Offering represents 10.3% of theissued and outstanding common shares of Minco Gold.
The closing of the Offering is expected to occur on or aboutSeptember 30, 2009 and is subject to the approval of the TSX and allapplicable securities regulatory authorities. All of the common sharesissued pursuant to the Offering will be subject to a four-month holdperiod.
The net proceeds from the Offering will be used for the continuedexploration and development of the Company's properties located in thePeoples Republic of China and for general corporate purposes.
ABOUT MINCO GOLD
Minco Gold Corporation (TSX:MMM)(NYSE Amex:MGH)(FRANKFURT:MI5) is aCanadian mining company involved in the direct acquisition anddevelopment of high-grade, advanced stage gold properties. The Companyowns an exploration property portfolio covering more than 1,000 squarekilometres of mineral rights in China.
ON BEHALF OF THE BOARD
Dr. Ken Z. Cai, President & CEO
The statements that are not historical facts are forward-lookingstatements involving known and unknown risks and uncertainties whichcould cause actual results to vary considerably from these statements.The risks and uncertainties include those described in Minco Gold'sannual report on Form 20-F filed with the U.S. Securities and ExchangeCommission. Forward Looking Statements: Statements in this news areforward-looking statements within the meaning of the United StatesPrivate Securities Litigation Reform Act of 1995. Forward lookingstatements are statements that are not historical facts and that aresubject to a variety of risks and uncertainties which could causeactual events or results to differ materially from those reflected inthe forward-looking statements, including risks related to theexploration stage of the company's projects; market fluctuations inprices for securities of exploration stage companies; uncertaintiesabout the availability of additional financing; uncertainties relatedto fluctuations in gold prices; the possibility that Minco GoldCorporation may change its plans with respect to one or moreproperties; and other risks and uncertainties described in thecompany's annual report on Form 20-F and Reports on Form 6-K filed withor furnished to the U.S. Securities and Exchange Commission. Althoughwe believe the expectations reflected in our forward looking statementsare reasonable, results may vary, and we cannot guarantee futureresults, levels of activity, performance or achievements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Minco Gold Corporation
Ute Koessler
1-888-288-8288 or (604)-688-8002
info@mincomining.ca
www.mincomining.ca
The TSX has neither approved nor disapproved of the information contained herein.
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