|April 29, 2010|
Minco Gold has Commenced Field Program to Follow Up Discoveries at Oujiaba and Yejiaba Properties
|Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM/AMEX:MGH/FSE:MI5) is pleased to announce that it has started its field program to follow the significant results and the discovery of the gold mineralization zone discovered during 2009 along the 6 km long structural zone on its Oujiaba property (13.2 g/t Au over 10.0 m, see March 9, 2010 press release) and along the +10 km long structural trend (100.2 g/t Ag, 1.25% Pb, 46.6% Fe over 5.0 M, March 23, 2010 press release) on its Yejiaba property both located in Gansu Province, P.R.C.|
Minco has had their exploration teams working in the field on both target areas since late March. The company has also contracted a geophysical company and an experienced Nevada geologist, who are presently on the properties to assist in progressing both targets and to further define drill targets.
The mineralized structure at Oujiaba has a width ranging from 5 to10 metres and has been traced within the Minco property for approximately 6 kms to date and remains open along strike to the east. The mineralization is hosted along the contact of hanging wall limestone and heavily folded footwall phyllite which is intruded by numerous intrusive dykes.
In the Shajinba area, the large poly-metallic mineralized zone 5 to 25 metres in width was identified during the 2009 exploration program which consisted of traversing and trenching. The regional unconformity divides massive hanging wall limestone with the heavily folded thin-bedded footwall limestone which are intruded by highly altered dykes.
The early exploration work on both target areas will consist of detailed mapping/sampling, trenching, soil geochemical survey, ground magnetic survey and test Induced Polarization in favourable areas. The results of the different surveys will be used to assist defining the mineralized zone and future potential drill targets.
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 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.
"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.
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