MGHCF Minco Capital Corporation (QB)

Minco Gold Corporation (the "Company" or "Minco Gold") (TSX: MMM)(NYSE Amex: MGH)(FRANKFURT: MI5) hereby announces that Ernst & Young LLP, Chartered Accountants (the "Former Auditors") have resigned as auditors of the Company effective October 19, 2009. Accordingly, the Board of Directors has appointed PricewaterhouseCoopers LLP, Chartered Accountants, (the "Successor Auditors") as auditors for the Company.

There were no reservations in the Former Auditors' report for the two most recently completed fiscal years or for any period subsequent to the most recently-completed period for which an audit report was issued and preceding the date of the Former Auditors' resignation. There are no reportable events between the Company and the Former Auditors. The resignation of the Former Auditors as auditors of the Company has been approved by the Company's Audit Committee and its Board of Directors. The Notice of Change of Auditor, together with the letter from the Former Auditor's and the letter from the Successor Auditors, has been reviewed by the Company's Audit Committee and its Board of Directors.

ABOUT MINCO GOLD

Minco Gold Corporation (TSX: MMM)(NYSE Amex: 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.

Contacts: Minco Gold Corporation Ute Koessler 1-888-288-8288 or (604)-688-8002 info@mincomining.ca www.mincomining.ca