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Re: News - Wednesday, November 21, 2007
Changes to Guideline Catalogue on Foreign Investments have No
Impact on Minco's Business in China
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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 info@mincomining.ca.
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 info@mincosilver.ca.
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.
View News Release in PDF Format:
http://www.mincosilver.ca/i/pdf/2007-11-21_NR.pdf
38 KB in size, approx. 8 seconds to download at 56.6Kbps
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Copyright (c) 2007 MINCO SILVER CORPORATION (MNV) All rights reserved.
For more information visit our website at http://www.mincosilver.ca/
or send mailto:info@mincosilver.ca
Message sent on Wed Nov 21, 2007 at 1:25:07 PM Pacific Time
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