Minco Gold Corporation
TSX : MMM
AMEX : MGH
FRANKFURT : MI5

Minco Gold Corporation

November 08, 2007 13:00 ET

Minco Provides Further Update on Plan of Arrangement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM)(AMEX:MGH)(FRANKFURT:MI5) is pleased to announce that the effective date for the completion of the Plan of Arrangement between Minco Gold, Minco Base Metals Corporation ("MBM") and 0791852 B.C. Ltd. ("Newco") will be November 15, 2007. The effective date is the date on which the Arrangement will become legally effective.

The record date for the purpose of determining the shareholders of Minco Gold who will be entitled to receive common shares of Newco pursuant to the terms of the Arrangement will be the same as the effective date, November 15, 2007 (the "Record Date"). Shareholders of Minco Gold as of the Record Date will be issued one common share of Newco for each five common shares of Minco Gold held. New share certificates representing the Newco common shares will be sent to shareholders on or about November 21, 2007. Certificates will not be issued for fractional shares. Fractions will be resolved by rounding down. Minco Gold's common shares will continue to trade on the TSX and AMEX under the symbols MMM and MGH, respectively. Complete details of the Plan of Arrangement are contained in Minco Gold's Information Circular (the "Circular") dated as of June 18, 2007 which is available for review on SEDAR.

Under the rules of the TSX and AMEX, respectively, Minco Gold common shares will commence trading "ex-dividend" with respect to the Newco shares to be distributed under the Arrangement on the opening of trading on November 13 on the TSX and on November 23 on AMEX. Accordingly, the last opportunity for investors to purchase Minco Gold shares in order to participate in the spin-out of Minco Base Metals will be immediately prior to the close of trading on November 12 on the TSX and immediately prior to the close of trading on November 21 on AMEX.

Due to the difference in "ex-dividend" dates between the AMEX and TSX markets, the AMEX will establish an ex-dividend market for Minco Gold shares under the symbol MGH.WI to coincide with ex-dividend trading on the TSX. Trades executed under the "ex-dividend" market will NOT carry due bills with respects to the spin-off of Newco. All deliveries of Minco Gold shares made after the Record Date in settlement of transactions made under the "regular way" market on the AMEX prior to the ex-dividend date will carry "due bills". The due bills will have the effect of transferring the right to receive a Newco share from the shareholder on the record date to the purchaser of Minco Gold shares who, at the time of the transaction, paid a "dividend on" price.

Minco Gold and Newco will be providing further updates and information to its shareholders in due course.

About Minco Gold

Minco Gold Corporation (TSX:MMM)(AMEX:MGH)(FRANKFURT:MI5) (formerly "Minco Mining & Metals Corporation") is a Canadian mining company involved in the direct acquisition and development of high-grade, advanced stage gold and base metals properties in China. The Company owns an exploration property portfolio covering more than 1,500 square kilometres of mineral rights in China including the past producing Gold Bull Mountain mine. For more information on Minco and its properties, please visit the website at www.mincomining.ca.

ON BEHALF OF THE BOARD

Dr. Ken Z. Cai, Chairman & 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 release 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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