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Minco Capital Corporation
 May 22, 2007
Minco Gold Continues to Define High Grade Gold Veins at Gold Bull Mountain

 Minco Gold Corporation (the "Company" or "Minco Gold") (MMM-TSX/MGH-AMEX/FRANKFURT-MI5) is pleased to announce assay results for 40 channel samples collected at its wholly-owned Gold Bull Mountain ('"GBM") project located in the western part of Hunan Province in the People's Republic of China. The property is located 6 kilometres north of the famous Xiangxi Gold mine, which has been in operation for over one hundred years.

The GBM gold belt extends for more than 15 kilometres and is recognizable by a wide distribution of artisanal mining adits, pits, and openings. Gold-quartz mineralization at GBM occurs primarily within brittle to ductile shear veins in Proterozoic sediment rocks. Four parallel quartz-vein style gold zones have been identified with a strong continuity along strike and dip directions.

The 40 channel samples were collected on vein II 3-1 across the vein width, along a 30 metre strike length on level 112 as tabulated below. The results ranged from 0.01 grams per tonne (g/t) gold to 158.79 g/t (5.1 ounces per tonne) gold with 75% of the samples grading greater than 1 g/t gold and 25 % of the samples greater than 10 g/t gold. The average gold grade for all 40 samples was calculated to be 12.32 g/t, over 1.52m true width. Photographs of quartz channel samples containing native gold can be viewed on the company's website at www.mincomining.ca. Assay results are provided in the table below.
Assay Table of 40 channel samples from Level 112

------------------------------------------------------------------------
                                                  Gold Grade (g/t)
                                    ------------------------------------
          Total Sample  True Width     +200 mesh    -200 mesh  Weighted
Sample_id    Weight (g)         (m)  Fraction Au  Fraction Au   Average
------------------------------------------------------------------------
GBH-K001        496.93        1.13          2.36         0.63      0.74
------------------------------------------------------------------------
GBH-K002        486.42        1.04        301.63         2.29      9.07
------------------------------------------------------------------------
GBH-K003        492.37        1.51        365.25        14.59     25.68
------------------------------------------------------------------------
GBH-K004        491.75        1.70         91.10         2.40      4.53
------------------------------------------------------------------------
GBH-K005        487.33        1.13          4.77         0.71      0.86
------------------------------------------------------------------------
GBH-K006        495.08        1.89        321.14         7.95     17.62
------------------------------------------------------------------------
GBH-K007        494.78        1.42         40.37         0.38      1.71
------------------------------------------------------------------------
GBH-K008        488.52        1.99        225.87         2.38     16.65
------------------------------------------------------------------------
GBH-K009        487.15        1.76          2497        35.50    158.79
------------------------------------------------------------------------
GBH-K012        486.00        1.48          4.31         0.15      0.22
------------------------------------------------------------------------
GBH-K013        491.61        1.32         82.54         1.52      3.74
------------------------------------------------------------------------
GBH-K014        495.20        1.13        168.97         3.03     14.42
------------------------------------------------------------------------
GBH-K015        495.50        1.42        276.77         3.01      9.00
------------------------------------------------------------------------
GBH-K016        490.90        0.70          1999        19.70    118.40
------------------------------------------------------------------------
GBH-K017        490.37        1.70        420.16         7.43     25.00
------------------------------------------------------------------------
GBH-K018        499.70        1.99         14.00         0.61      1.64
------------------------------------------------------------------------
GBH-K019        486.93        1.80         15.26         1.66      2.43
------------------------------------------------------------------------
GBH-K020        493.90        1.61          1.44         0.11      0.18
------------------------------------------------------------------------
GBH-K021        492.65        1.13         65.50         5.02      8.55
------------------------------------------------------------------------
GBH-K022        489.75        1.70         32.95         0.74      2.64
------------------------------------------------------------------------
GBH-K023        494.53        1.48          0.51         1.36      1.31
------------------------------------------------------------------------
GBH-K024        480.82        1.32         74.67         1.47      4.94
------------------------------------------------------------------------
GBH-K025        488.03        1.61        390.89         9.83     35.63
------------------------------------------------------------------------
GBH-K026        493.27        1.89          0.48         0.08      0.10
------------------------------------------------------------------------
GBH-K027        494.57        1.80         11.90         0.39      1.14
------------------------------------------------------------------------
GBH-K028        494.48        1.99          0.97         0.06      0.11
------------------------------------------------------------------------
GBH-K029        498.49        1.80         <0.01         0.03      0.03
------------------------------------------------------------------------
GBH-K030        494.20        1.80          0.01         0.01      0.01
------------------------------------------------------------------------
GBH-K031        496.70        1.70          2.70         1.95      1.99
------------------------------------------------------------------------
GBH-K032        486.40        1.51          8.74         0.43      0.95
------------------------------------------------------------------------
GBH-K033        488.50        1.80         13.22         3.38      4.07
------------------------------------------------------------------------
GBH-K034        493.13        1.94        205.98        10.31     18.73
------------------------------------------------------------------------
GBH-K035        496.01        1.42         18.93         0.75      2.14
------------------------------------------------------------------------
GBH-K036        497.57        1.58          0.07         0.21      0.20
------------------------------------------------------------------------
GBH-K037        485.48        1.04         18.76         1.68      2.91
------------------------------------------------------------------------
GBH-K038        500.01        1.77          2.39         1.48      1.54
------------------------------------------------------------------------
GBH-K039        493.65        1.37          4.54         1.80      1.96
------------------------------------------------------------------------
GBH-K040        485.01        1.13         73.58         3.91      8.17
------------------------------------------------------------------------
GBH-K043        491.84        1.32        132.35         6.32     15.79
------------------------------------------------------------------------
GBH-K044        488.43        0.85          3.55         0.89      1.06
------------------------------------------------------------------------
Average                       1.52                                12.32
------------------------------------------------------------------------
There is a significant "Nugget Effect" within the assay distribution requiring careful sampling and assaying techniques. All rock chip samples were collected as continuous samples across the width of the veins and over intervals ranging from 0.8 to 0.5 metres along strike and sent for analyses to Yunnan Paijia Mining Technology Services Co., a division of Canada Process Research Associates Ltd., located in the Yunnan Province, China. The samples were divided into two parts: +200 mesh fraction and -200 mesh fraction. The two samples were then analyzed separately using fire assay with atomic absorption spectrometry finish and a weighted average calculated.

Minco Gold President & CEO Dr. Ken Cai commented: "The significant 'Nugget Effect' returns a wide range of values and makes results difficult to reproduce. For this reason, we've chosen to suspend drilling and expanded our cross cutting and drifting program to provide a more accurate representation of the mineralized zones. Minco Gold is excited by the results to date and is working aggressively to advance the project."

Over the past 3 months, the exploration team has prepared 80 metres of drifting along strike on the 112 level of which 30 metres has been sampled. The team has also completed a detailed geological mapping program conducted over both the exploration (16.78 km2) and mining license (0.178 km2) areas in preparation for ongoing surveys. These programs were carried out under the technical supervision of Dr. John Li, Chief Geologist and Manager of Jinniushan Property Exploration (GBM).

Mr. Dwayne Melrose, P. Geo, Vice President Exploration for Minco Gold, is the Qualified Person responsible for verification and quality assurance of the company's exploration data and analytical results.

About Minco Gold

Minco Gold Corporation (MMM-TSX/MGH-AMEX/FRANKFURT-MI5)
(formerly "Minco Mining & Metals Corporation") is a Canadian mining company involved in the direct acquisition and development of high-grade, advanced stage gold and base metals properties in China. The Company owns an exploration property portfolio covering more than 1,500 square kilometres of mineral rights in China including the past producing Gold Bull Mountain mine. For more information on Minco and its properties, please visit the website at www.mincomining.ca or contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 info@mincomining.ca.


ON BEHALF OF THE BOARD
"Ken Z. Cai"
President, CEO & Director

The TSX has neither approved nor disapproved of the information contained herein. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties which could cause actual results to vary considerably from these statements. The risks and uncertainties include those described in Minco Gold's annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. Forward Looking Statements: Statements in this news are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including risks related to the exploration stage of the company's projects; market fluctuations in prices for securities of exploration stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in gold prices; the possibility that Minco Gold Corporation may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's annual report on Form 20-F and Reports on Form 6-K filed with or furnished to the U.S. Securities and Exchange Commission. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
 
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