|September 24, 2009|
Minco Gold Announces a Non-Brokered Private Placement of CND$4,400,000
|Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM/NYSE Amex:MGH/FSE:MI5) is pleased to announce that it has entered into an agreement with Accel China Growth Fund II L.P. (" Accel") a fund under management by IDGVC Capital Partners located in the Peoples Republic of China to purchase on a non brokered private placement bases of 5,000,000 common shares in the capital stock of Minco Silver at a price of CND$0.88 per share for an aggregate gross proceeds of up to CND$4,440,000 (the "Offering"). The Offering represents 10.3% of the issued and outstanding common shares of Minco Gold. |
The closing of the Offering is expected to occur on or about September 30, 2009 and is subject to the approval of the TSX and all applicable securities regulatory authorities. All of the common shares issued pursuant to the Offering will be subject to a four-month hold period.
The net proceeds from the Offering will be used for the continued exploration and development of the Company's properties located in the Peoples Republic of China and for general corporate purposes.
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 email@example.com.
"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.