|August 13, 2009|
Minco Gold Advises of NYSE Notice
|Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM/NYSE Amex:MGH/FSE:MI5) advises that on August 7, 2009 the Company received a notice from NYSE Amex LLC (the "Exchange") advising that the Company is not in compliance with Section 1003(a)(i) of the Exchange's Company Guide (the "Guide") with shareholders' equity of less than $2,000,000 and net losses in two of Minco Gold's three most recent fiscal years, Section 1003(a)(ii) of the Guide with shareholders equity of less than $4,000,000 and net losses in three of its four most recent fiscal years, Section 1003(a)(iii) of the Guide with shareholders' equity of less than $6,000,000 and net losses in its five most recent fiscal years, and Section 1003(a)(iv) of the Guide in that Minco Gold has sustained losses which are substantial in relation to its overall operations or its existing financial resources, or its financial condition has become impaired that it appears questionable, where in the opinion of the Exchange, Minco Gold will be able to continue operations and/or meet its obligations as they mature. |
The Company is working diligently to address the Exchange's concerns and intends to submit a arrangement to the Exchange no later than September 7, 2009 outlining Minco Gold's plan to regain compliance with the above noted Sections of the Guide.
ABOUT MINCO GOLD
Minco Gold Corporation (TSX:MMM/NYSE Amex: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.
ON BEHALF OF THE BOARD
"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.