Minco Gold Corporation

Minco Gold Corporation

March 23, 2010 09:01 ET

Minco Gold Defines Significant Poly-Metallic Mineralization at Yejiaba Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 23, 2010) - Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM)(NYSE Amex:MGH)(FRANKFURT:MI5) is pleased to announce that a large poly-metallic and gold mineralization trend within a regional unconformity has been defined on its 100% owned Yejiaba property located in Gansu Province, P.R.C. The mineralized structural trend is over 10 kilometres in length with some portions of the trend located outside of Minco's property. In the southwest portion of the structural trend poly-metallic (iron – silver – lead - zinc) mineralization is located in the hanging wall while the gold mineralization is located in the footwall in the northeast portion of the structural trend. Please see to the property map with sample results on the Minco website.

In the Shajinba area, a 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. High contents of iron, silver, lead and zinc are characteristic for this style of mineralization in the Shajinba area.

Continuous channel sample results from surface trenches completed are as follows:

  Sample No.   Width (m)   Average Grade   Alteration
  Ag(g/t)   Pb(%)   Zn(%)   Fe(%)    
  2.3m   89.00   0.27   0.01   -   Silicification with limonite and antimonite  
  11.0m   4.24   5.09   0.65   29.5   Silicification with hematite, pyrolusite  
  YJB-09-2430   1.1m   71.0   0.14   0.004   -   Silicification  
  8.0m   102.8   0.15   0.17   26.1   Silicification with hematite, pyrolusite  
  3.0m   117.9   0.55   0.18   31.5   Silicification with hematite, pyrolusite  
  5.0m   100.2   1.25   0.11   46.6   Silicification with hematite, pyrolusite  
  2.0m   169.7   1.15   0.32   41.5   Silicification with hematite, pyrolusite  

Gold mineralization occurs within the northeast portion of the altered structural trend and other structural zones within the Yejiaba property returned the following results:

Sample No. Width (m) Ag (g/t) Au (g/t) Alteration
3.0 - 1.46 Silicification with hematite
YJB-09-2394 0.8 322 2.66 Silicification with hematite
3.0 - 0.52 Silicification with hematite

In 2010 Minco will continue to explore and define this favourable target with further sampling, trenching, traversing, geophysics, and potentially diamond drilling.

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. External check samples were sent to Intertek Laboratories in Beijing, PRC for additional check analysis.

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)(FRANKFURT: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.


Dr. Ken Z. Cai, President & CEO

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.

The TSX has neither approved nor disapproved of the information contained herein.

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