VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2013) - Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM)(NYSE MKT:MGH)(FRANKFURT:MI5) is pleased to provide the following update as results of a strategic review recently completed on its portfolio of properties in China and other corporate initiatives.
Towards the end of 2012, the Company completed an exploration program on its Longnan projects located in Gansu, China, including three drill holes. The assay results from the exploration program are pending.
The Company has recently completed a detailed review of its portfolio of properties in China. While the exploration will be focused on the core projects in Longnan in 2013, the Company intends to sell the non-core projects in China to generate working capital for the Company and to maximize its shareholder value.
Parallel to our exploration in China, the Company also intends to diversify outside China in 2013. We are actively evaluating advanced gold projects outside China for potential acquisition. Mr. Peter Voulgaris, Vice President of Corporate Development of the Company, is in charge of this initiative.
The Company plans to continue to hold the 13 million shares of Minco Silver Corporation, representing approximately 22.15% of the issued and outstanding shares of Minco Silver, with the view that this is one of its key assets.
About Minco Gold
Minco Gold Corporation (TSX:MMM)(NYSE MKT: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 51% interest in the Changkeng gold deposit with one million ounce gold resources and 100% interest in 11 exploration projects in Longnan as well as 13 million shares (22.15%) of Minco Silver Corporation. For more information on Minco Gold and its properties, please visit the website at www.mincomining.ca.
The preceding includes forward looking statements, including plans for the further extension of our exploration program. Actual plans and results of exploration activities may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual plans to differ materially are the Corporation's ability to raise future financing and other risk factors listed from time to time in our SEC reports and our reports filed with Canadian securities regulators. We disclaim any intent to update forward looking information except to the extent required by applicable securities laws.