Minco Gold Corp. Proposes Change of Business to Investment Issuer - Seite 2

In addition to the overall merits of the strategy, the Company already holds a significant equity investment in Minco Silver Corporation ("Minco Silver") consisting of 11,000,000 common shares, representing approximately 18.26% of Minco Silver's outstanding share capital. As at the close of trading on November 10, 2016 the current market value of the Minco Silver stake was approximately $12.43 million. Minco Silver holds a 90% interest in the Fuwan silver deposit, situated along the northeast margin of the prospective Fuwan Silver Belt in Guangdong, China and 51% interest in the Changkeng gold project, located contiguous to, and part of the same mineralized system. Further information with respect to Minco Silver may be found at Minco Silver's website, www.mincosilver.ca.

The Company has applied for conditional approval to be listed on the TSXV as a Tier 1 Investment Issuer. As part of the TSXV listing requirements, the Company prepared a Filing Statement containing details of the COB. The Filing Statement includes an Investment Policy, which will be adopted by the Company to govern its investment activities. The Investment Policy set outs, among other things, the investment objectives and strategy. The Filing Statement and Investment Policy have been posted for review under the Company's profile at www.sedar.com and on the Company's website at www.mincogold.com.

In conjunction with the new strategy, the Company has begun the process of divesting all remaining mineral property interests held in China.

There will be no immediate changes to the Board of Directors or management of the Company following completion of the COB.

Completion of the COB is subject to a number of conditions, including TSXV acceptance. The COB cannot close until TSXV's acceptance is obtained. There can be no assurance that the COB will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement in connection with the COB, any information released or received with respect to the COB may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the COB and has neither approved nor disapproved the contents of this press release.

Minco Gold Corporation
Jennifer Trevitt
[phone]
[e-mail]
www.mincogold.com