Sino Gold announces compulsory acquisition of remaining Golden China shares



    TORONTO, Dec. 17 /CNW/ - Sino Gold Mining Limited (together with its
subsidiaries, "Sino Gold") (ASX: SGX, SEHK:1862) announces that, following the
mailing today of the Notice of Compulsory Acquisition and ancillary documents
to the shareholders of Golden China Resources Corporation ("Golden China")
(TSX/ASX: GCX) that did not tender their Golden China shares to Sino Gold's
offer for all of the outstanding Golden China shares (the "Non-Tendering
Shareholders"), Sino Gold has compulsorily acquired all of the Golden China
shares held by the Non-Tendering Shareholders. Golden China shares are
expected to be de-listed from the Toronto Stock Exchange shortly.
    Sino Gold confirms that it has control over 13,168,913 common shares of
Australian Solomons Gold Limited (TSX: SGA) which are held by Golden China.

    
             Cautionary Statement on Forward-Looking Information
    

    Certain information included in this release, including any information
as to future financial or operating performance and other statements that
express expectations or estimates of future performance, constitute
"forward-looking statements". The words "expect", "will", "intend", "estimate"
and similar expressions identify forward-looking statements. Forward-looking
statements are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by management of Sino Gold and Golden China
(collectively, the "Companies"), as applicable, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. The Companies caution the reader that such forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause the actual financial results, performance or achievements of
each of the Companies, as applicable, to be materially different from their
respective estimated future results, performance or achievements expressed or
implied by those forward-looking statements and the forward-looking statements
are not guarantees of future performance. These risks, uncertainties and other
factors include, but are not limited to: changes in the worldwide price of
gold or certain other commodities (such as fuel and electricity) and other
currencies; changes in U.S. dollar interest rates or gold lease rates; risks
arising from holding derivative instruments; ability to successfully integrate
acquired assets; legislative, political or economic developments in the
jurisdictions in which the Companies carry on business; operating or technical
difficulties in connection with mining or development activities; employee
relations; availability and increasing costs associated with mining inputs and
labour; the speculative nature of exploration and development, including the
risks of diminishing quantities or grades of reserves, adverse changes in our
credit rating, contests over title to properties, particularly title to
undeveloped properties; and the risks involved in the exploration, development
and mining business. These factors are discussed in greater detail in the
Companies respective statutory releases filed with the Australian securities
regulatory authorities and in Golden China's most recent Annual Information
Form filed with the Canadian provincial securities regulatory authorities.
    Each of the Companies disclaim any intention or obligation to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as expressly required by applicable law.

    NONE OF THE TSX, THE ASX NOR THE SEHK HAVE REVIEWED OR ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.





For further information:

For further information: Investor Enquiries: Jake Klein, CEO, or Roger
Howe, Investor Relations, +61 2 8259 7000, info@sinogold.com.au; Media
Enquiries: Kate Kerrison, +61 2 6746 3221, kate@katekerrison.com.au; Or visit
the Sino Gold website www.sinogold.com.au

Organization Profile

SINO GOLD MINING LIMITED

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