Minco Gold Corporation
TSX : MMM
NYSE Amex : MGH
FRANKFURT : MI5

Minco Gold Corporation

July 07, 2011 08:28 ET

Minco Gold Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2011) - Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM)(NYSE Amex:MGH)(FRANKFURT:MI5) held its Annual General Meeting (the "AGM") June 28th 2011, in which all matters placed before the shareholders were approved. The report detailing the AGM is available for review on SEDAR.

The shareholders also re-elected Dr. Ken Z. Cai, Dr. Michael Doggett, Malcolm Clay, Dwayne Melrose, and Robert Callander to the Board of Directors for the coming year. Dr. Ken Z. Cai shall also serve as Chairman.

The Company is pleased to announce the commencement of an initial diamond drill program of the Shajinba Zone on its 100% owned Yejiaba property, part of the Longnan Project, located in Gansu Province. The drill program consists of five holes for a total of 2,000 meters of core drilling, and is designed to test the zone of gold mineralization discovered by the Company in 2010 (please see the company's October 13, 2010 Release).

Mineralization is structurally controlled by a thrust fault that localizes main concentrations of gold, though there are narrower zones in its footwall. The surface trace of the zone has been trenched out at approximately 50 meters spacing in 2010. Shape of the zone at depth was defined by induced polarization (IP) survey which was also completed in 2010. Maximum depth of investigation was approximately 550 meters. Results of IP survey further convinced in significant scale of gold mineralization at Yejiaba property and were used in designing of the drill program. The program will include the deployment of two drill rigs to complete drilling over a two month period. The assay results will be made available upon receipt and review of the same.

The Company is continuing with its global search and evaluation of suitable gold projects for inclusion in its property portfolio.

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.

ON BEHALF OF THE BOARD

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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