|November 21, 2007|
Changes to Guideline Catalogue on Foreign Investments have No Impact on Minco's Business in China
|Minco Gold Corporation ("Minco Gold") (TSX:MMM/AMEX:MGH/FSE:MI5) and Minco Silver Corporation ("Minco Silver") (TSX: MSV) issued a statement to clarify changes related to the Guideline Catalogue on Foreign Investments in China jointly issued by the National Reform and Development Commission (NRDC) and the Ministry of Commerce.|
In comparison to the previous "Guideline Catalogue on Foreign Investments in China" issued in 2004, no change in this new catalogue will affect any of Minco's current and future business activities in China. The Minco Group of Companies focuses on the exploration and development of gold, silver, copper, lead, and zinc projects.
The new Catalogue, expected to take effect December 1, 2007, reclassifies tungsten, molybdenum, tin, antimony, and fluorite into a "forbidden category" for foreign investors from a "restricted category" and a requirement for Chinese majority shareholding in exploration and mining of specialty coal such as coking coal. The Minco Group of Companies does not mine any of these minerals and thus is not impacted by the reclassification in the new Catalogue.
According to remarks made by Wang Min, Chinese Vice Minister of Land and Resources, at the China International Mining Conference held Beijing on November 13, 2007, China will continue firmly opening the mining field to foreign investors and foreign companies may conduct risk prospecting and resource development in China in the form of solely-funded venture, equity or non-equity joint venture according to law. The mining industry in China has become an important field for foreign investment. More than 100 foreign companies have invested in mineral prospecting in China, involving more than 400 prospecting and mining projects of oil, natural gas, coal, iron, copper, lead, zinc, silver and gold.
About Minco Gold
Minco Gold Corporation (TSX:MMM/AMEX:MGH/FSE: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 or contact Ute Koessler at 1-888-288-8288 or (604)-688-8002 firstname.lastname@example.org.
About Minco Silver
Minco Silver Corporation (TSX: MSV) is a TSX company focusing on the acquisition and development of silver dominant projects in China. The Company is the exclusive vehicle for pursuing silver opportunities in China pursuant to a strategic alliance agreement between Minco Gold Corporation (formerly "Minco Mining & Metals Corporation") (TSX:MMM/AMEX:MGH/FSE:MI5) and Silver Standard Resources (TSX:SSO). For more information on Minco and its properties, please visit the website at www.mincosilver.ca or contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 email@example.com.
ON BEHALF OF THE BOARD
"Dr. Ken Z. Cai"
Chairman & CEO
The TSX has neither approved nor disapproved of the information contained herein. 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 companies' projects; market fluctuations in prices for securities of exploration stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in metal prices; the possibility either company may change its plans with respect to one or more properties; and other risks and uncertainties described in Minco Gold'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.
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