Minco Gold Corporation ("Minco Gold" or the "Company") is pleased to announce that the Company's wholly owned subsidiary Minco Mining (China) Co., Ltd has entered into an agreement with a private Chinese individual (the "Purchaser") to sell the Company's Gold Bull Mountain Project located in Hunan Province, China for total consideration of RMB 7 million (approximately CDN$1.2 million).
The Company has received the first installment payment (30% of the total) from the Purchaser.
Minco Gold's President and CEO Ken Cai commented: "The sale of the Gold Bull Mountain project reflects the Company's focus on its core exploration properties in Gansu, China and its continued efforts to dispose of its other non-core assets and to diversify its investment outside China."
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 a 51% equity interest in the Changkeng Gold Project. The Company also owns a 100% interest in the Longnan projects with 10 exploration permits, located in Gansu Province, China; as well as 11 million shares (approx. 18.45%) of Minco Silver Corporation. For more information on Minco Gold and its properties, please visit the website at www.mincomining.ca.