Minco Gold Announces Sale of the Changkeng Gold Project - Seite 3

Related Party Considerations

The Company owns 11,000,000 common shares of Minco Silver, representing approximately 18.4% of Minco Silver's outstanding common shares, and Ken Cai, president, chief executive officer and director of the Company, owns 560,000 common shares of Minco Silver, representing an additional 0.9% of Minco Silver's outstanding common shares. In addition, Mr. Cai serves as chairman, chief executive officer and director of Minco Silver. Mr. Cai has disclosed this interest to the Board and has abstained from voting on any resolutions of the Board in respect of the transaction and the Share Purchase Agreement.

Management Change

The Company also announced that Samson Siu, the Company's interim chief financial officer and corporate controller, is no longer with the Company. The Company has commenced a search for a replacement. Mr. Cai, the Company's Chief Executive Officer and President, commented: "On behalf of the Board, I would like to express our appreciation to Mr. Siu for his outstanding contributions to the Company and wish him well in his future endeavours."

About Minco Gold Corporation

Minco Gold Corporation (TSX:MMM)(NYSE MKT:MGH)(FRANKFURT:MI5) is a Canadian mining company involved in the direct acquisition and development of high-grade, advanced stage gold properties. Following the completion of the transaction, the Company's principal asset, excluding cash, is 11 million shares (approximately 18.4%) of Minco Silver Corporation.

FORWARD-LOOKING INFORMATION

This press release contains certain forward-looking information that reflects the current views and/or expectations of the Company with respect to its performance, business and future events. In particular, this press release contains forward-looking information relating to the sale of the Changkeng Gold Project and the Share Purchase Agreement, including anticipated timing for the closing of the sale, expected use of proceeds and expectations surrounding the Company's future business strategies should the transaction complete. The reader is cautioned that statements constituting forward-looking information are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Forward-looking information is based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Assumptions underlying the Company's expectations regarding forward-looking information contained in this news release include, among others: that the Company will obtain all necessary shareholder, stock exchange and regulatory approvals for the transaction and all other conditions to closing of the Share Purchase Agreement will be satisfied or waived; that the Company will be able to complete the transaction as expected and within expected timeframes; and that the Company will hold the Meeting as planned. Investors are cautioned that statements constituting forward-looking information are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, including, without limitation, that the Company may be unable to obtain all necessary shareholder and regulatory approvals for the transaction as and when expected or at all; that the transaction may not be completed as expected or at all as a result of failure to satisfy or waive any of the conditions of closing; that the Company's common shares may be delisted from the stock exchanges it is currently listed on as a result of the Company's inability to satisfy the continuing listing requirements following the completion of the sale; and that market or other conditions may necessitate a reapplication of the use of proceeds received from completion of the Share Purchase Agreement; and other risk factors detailed in the Company's latest Annual Report on Form 20-F, available on SEDAR at www.sedar.com and other filings with applicable securities regulatory authorities.