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Abstract
(CCNMatthews - May 29, 2007) - Minco Gold Corporation (the "Company" or "Minco Gold") (TSX:MMM)(AMEX:MGH)(FRANKFURT:MI5) is pleased to announce that its wholly owned subsidiary, Minco Mining (China) Corporation, has entered into a cooperative joint-venture agreement with Henan Nonferrous Geological Mining Co., Ltd. ("HNGM") to jointly explore and develop the Xiaoshan polymetallic project located in Henan Province, China. Under the terms of the agreement, Minco can earn up to 70% equity interests in Xiaoshan with a total contribution of RMB 35 million (approx US$ 4.57 million). Minco will make an initial payment of RMB 15 million (approx US$ 1.96 million) to secure the exploration permits and fund RMB 20 million (approx US$ 2.61 million) in exploration and development before the end of June, 2009. The agreement is subject to Chinese government approval.