|February 17, 2009|
Minco Continues To Release Excellent Drill Results From Changkeng
Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM/NYSE Alternext US:MGH/FSE:MI5) is pleased to report additional assay results of diamond drill holes completed for the Changkeng Gold Project located in Guangdong Province, China. The Company conducted a comprehensive exploration program on the project including approximately 12,000 metres of combined step out and in-fill diamond drilling in 61 holes. These 20 holes were primarily designed to confirm the earlier wider spaced positive drill results to a higher confidence level and to extend mineralization down dip.
An area of 120 by 120 m (sections 4 to 14) was in-filled with 9 drill holes that returned significant results. The 40 by 40 m spaced drilling will extend the higher confidence resources from the previous resource estimation completed in March 2008. Mineralization was also extended down dip in localized areas along the eastern end of the known mineralization. Please visit the Company's website at to view a map of the drill hole locations.
Assay results are highlighted by the following intersections:
True widths for the mineralized zones are typically from 75% to 95% of the stated intercepts.
Minco Gold will continue to release the results from the drill program when all the necessary check sampling has been completed and verified on the Changkeng Gold project. The Company has also engaged P&E Mining Consultants Inc. to complete an updated NI 43-101 compliant resource estimation.
Samples were prepared and assayed at SGS -- CSTC Standards Technical Company, TEDA Tianjin, PRC under the supervision of an International certified assayer. Samples were analyzed with fire assay with AAS finish for gold and aqua regia with an AAS finish for silver. Assay results were further checked internally at SGS. External check samples were also sent to ASL Chemex Laboratories in Guangzhou, Guangdong Province, PRC for additional check analysis. Reference materials were inserted by Minco geologists as part of a comprehensive quality assurance/quality control program.
Mr. Dwayne Melrose, P. Geo, Vice President Exploration for Minco Gold, has reviewed this news release and 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 (TSX:MMM/NYSE Alternext US:MGH/FSE:MI5) is a Canadian mining company involved in the direct acquisition and development of high-grade, advanced stage gold properties. The Company owns an exploration property portfolio covering more than 1,000 square kilometres of mineral rights in China. For more information on Minco Gold and its properties, please visit the website at www.mincomining.ca or contact Ute Koessler at 1-888-288-8288 or (604)-688-8002 firstname.lastname@example.org.
"Dr. Ken Z. Cai"
President & CEO
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.