Minco Gold Corp. Proposes Change of Business to Investment Issuer

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 16, 2016) - Minco Gold Corp. (TSX:MMM): The Company is pleased to announce a proposed change of its business focus from mineral exploration to an investment strategy with more ability and flexibility to capitalize on steadily improving market conditions in the mineral resource sector.

Under the new strategy, the Company will utilize its strong working capital position, its extensive industry contacts and internal expertise to build a portfolio of high-quality investments, primarily in publicly traded and privately held corporations as well as direct ownership stakes in resource projects. Types of investments include common shares, preferred shares, warrants, royalties, convertible debentures, bridge loans, and other investment vehicles selected to create the best value and return for the shareholders while limiting downside risk.

Dr. Ken Cai, President & CEO commented; "the background to this decision started in 2015, when we sold our 51-per-cent interest in the Changkeng gold project to Minco Silver. Since that time, we have evaluated numerous projects outside of China in search of new mineral resource assets to acquire. We have now determined that a diversified investment portfolio approach has the potential to generate more opportunities for the company and create better long-term growth for shareholders."

After extensive review and discussion, the Company determined that the best way to implement this strategy and to provide the greatest degree of flexibility was to undertake a Change-of Business ("COB") to an Investment Issuer under the policies of the TSX Venture Exchange (the "TSXV"). A switch to the TSXV was chosen since the TSX Exchange ("TSX") does not have an investment issuer category. As an Investment Issuer on the TSXV, the Company is not required to own mineral exploration properties or hold direct interests in mining assets to maintain its listing.

The Company has approximately $8.5 million in working capital (as at September 30, 2016), a significant portion of which will be allocated to new investments that will be directed by an Investment Committee and guided by the Company's Investment Policy. The nature and timing of the Company's investments will depend, in part, on available capital at any particular time and the investment opportunities identified and available to the Company.