Minco Gold Corporation
TSX : MMM
FRANKFURT : MI5
NYSE Alternext US : MGH

Minco Gold Corporation

March 02, 2009 09:07 ET

Minco Gold Releases Final Assay Results From 2008 Drill Program at Changkeng Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2009) - Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM)(NYSE Alternext US:MGH)(FRANKFURT:MI5) is pleased to report the final assay results of diamond drill holes completed for the Changkeng Gold Project in Guangdong Province, China.

Minco Gold significantly advanced the Changkeng Gold project during 2008. The comprehensive exploration program included approximately 12,000 metres of diamond drilling in 61 holes and a hydrological & geotechnical assessment on the project yielding promising results. The 2008 drill program was very successful in extending the mineralization along strike for approximately 300 metres to the north-east from the main Changkeng deposit area. All these encouraging drill results will be included in the upcoming NI 43-101 compliant resource estimate currently in progress.

The 17 holes reported here were designed to confirm the earlier wider spaced positive drill results to a higher confidence level and to extend the mineralization. Please visit the Company's website at www.mincogold.ca to view a map of the drill hole locations.

Assay results are highlighted by the following intersections:



- CK2053 4.74 g/t gold over 10.20 m
- CK2057 5.69 g/t gold over 9.25 m
- CK2059 4.24 g/t gold over 12.65 m
- CK2060 3.07 g/t gold over 13.62 m
- CK2061 3.08 g/t gold over 10.20 m and 3.20 g/t gold over 5.45 m
- CK2063 3.49 g/t gold over 10.10 m
- CK2064 4.00 g/t gold over 10.55 m
- CK2071 4.81 g/t gold over 16.45 m including 9.95 g/t gold over 5.20 m

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Average Grade
From To Intercept -----------------------------
Hole No. (m) (m) (m) Au(g/t) Ag(g/t) Pb(%) Zn(%)
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CK2049 207.45 211.25 3.80 1.96 5.97 n/a n/a
----------------------------------------------------
incl. 210.30 211.25 0.95 3.55 8.00
----------------------------------------------------
215.30 217.35 2.05 0.35 81.83
----------------------------------------------------
220.30 222.40 2.10 1.45 59.95
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CK2053 41.20 51.40 10.20 4.74 10.15 n/a n/a
----------------------------------------------------
incl. 45.90 49.60 3.70 8.23 15.00
--------------------------------------------------------------------------
CK2056 120.25 122.20 1.95 6.14 6.23 n/a n/a
----------------------------------------------------
126.50 127.60 1.10 1.64 2.00
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CK2057 51.25 60.50 9.25 5.69 8.85 n/a n/a
----------------------------------------------------
incl. 51.25 53.25 2.00 9.30 18.00
--------------------------------------------------------------------------
CK2058 93.07 96.26 3.19 5.32 9.96 n/a n/a
----------------------------------------------------
incl. 93.96 95.66 1.70 7.87 15.00
--------------------------------------------------------------------------
CK2059 154.90 167.55 12.65 4.24 7.81 n/a n/a
----------------------------------------------------
incl. 157.70 161.70 4.00 6.51 12.25
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CK2060 235.10 237.00 1.90 2.21 3.52 n/a n/a
----------------------------------------------------
244.95 250.30 5.35 1.65 3.23
----------------------------------------------------
254.25 267.87 13.62 3.07 12.12
----------------------------------------------------
incl. 262.90 264.90 2.00 6.76 41.42
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less
than
CK2061 99.70 100.85 1.15 1.47 1 n/a n/a
----------------------------------------------------
100.85 111.05 10.20 3.08 8.75
----------------------------------------------------
117.40 122.85 5.45 3.20 3.40
----------------------------------------------------
incl. 117.40 119.40 2.00 4.91 3.00
--------------------------------------------------------------------------
CK2062 137.35 138.35 1.00 1.63 1.00 n/a n/a
----------------------------------------------------
145.17 146.03 0.86 1.46 1.00
----------------------------------------------------
151.76 153.33 1.57 4.11 7.31
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CK2063 171.30 181.40 10.10 3.49 8.13 n/a n/a
----------------------------------------------------
incl. 173.00 177.50 4.50 4.63 9.86
----------------------------------------------------
181.40 183.30 1.90 1.53 5.11
--------------------------------------------------------------------------
CK2064 42.64 43.65 1.01 3.34 25.00 n/a n/a
----------------------------------------------------
103.30 104.30 1.00 5.09 12.00
----------------------------------------------------
105.30 115.85 10.55 4.00 4.18
----------------------------------------------------
incl. 110.35 115.85 5.50 5.85 4.35
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CK2065 No Significant Results
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CK2066 162.19 163.15 0.96 1.09 16.00 n/a n/a
----------------------------------------------------
196.00 199.60 2.00 0.16 79.75
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CK2068 158.90 164.45 5.55 1.79 8.04 n/a n/a
--------------------------------------------------------------------------
CK2069 261.10 263.30 2.20 1.91 4.50 n/a n/a
----------------------------------------------------
268.84 269.84 1.00 1.48 12.00
----------------------------------------------------
274.60 280.10 5.50 2.15 11.25
----------------------------------------------------
incl. 274.60 277.00 2.40 3.13 21.96
----------------------------------------------------
284.10 290.65 6.55 0.22 278.06
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CK2070 66.80 68.80 2.00 2.82 10.20 n/a n/a
----------------------------------------------------
70.85 71.80 0.95 0.48 130.00
--------------------------------------------------------------------------
CK2071 66.50 82.95 16.45 4.81 7.36 n/a n/a
----------------------------------------------------
incl. 68.85 74.05 5.20 9.95 12.54
--------------------------------------------------------------------------


True widths for the mineralized zones are typically from 75% to 95% of the stated intercepts.

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. Assay results were further checked internally at SGS. External check samples were also sent to ASL Chemex Laboratories in Guangzhou, Guangdong Province, PRC for additional check analysis. Reference materials were inserted by Minco geologists as part of a comprehensive quality assurance/quality control program.

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 Alternext US: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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