Golden China Releases Fiscal 2007 Year End Results

    TORONTO, Sept. 28 /CNW/ - Golden China Resources Corporation (GCX: TSX;
ASX) today released its audited financial results for the year ended June 30,
    The Corporation reported $30.8 million of revenue for the current
financial year, recognized by its BioGold gold processing facility in Shandong
Province. The revenue attributed to BioGold reflects earnings over a period of
approximately six months, from the completion of Golden China's business
combination with Michelago Limited (December 22, 2006) to June 30, 2007, as
opposed to a full year.
    For the year ended June 30, 2007, the Corporation incurred a net loss of
$13.2 million, or $0.37 per share, which compares with a net loss of  $7.65
million ($0.46 per share) for the 2006 financial year. The loss was primarily
the result of a write down in the value of marketable securities, general,
administration and office expenses stemming from the integration of the
BioGold facility following Golden China's acquisition of Michelago, higher
corporate administration fees associated with the Michelago transaction, and
interest and amortization charges related to the debenture financing.
    Following the 2007 fiscal year end, Sino Gold Mining Ltd. (ASX: SGX,
SEHK: 1862) made a takeover offer for all of Golden China's outstanding common
shares subject to certain conditions, including a 90% acceptance by the
company's shareholders.
    For a detailed analysis of Golden China's operational and financial
results for the year ended June 30, 2007, please refer to the company's
Management's Discussion and Analysis, and financial statements and notes
thereto, available on Golden China's website (, SEDAR
(, and the Australian Stock Exchange (

    About Golden China Resources Corporation:

    Golden China Resources Corporation is a significant participant and
consolidator in the Chinese precious metal industry and one of the largest
producers of gold in China. The company is using its extensive knowledge of
the Chinese marketplace and best practices based on established international
standards in building a diversified gold business focused on exploration and
development, operations, and corporate development in the Chinese precious
metal industry. Golden China's shares are listed on the main boards of both
the Toronto Stock Exchange and the Australian Securities Exchange under the
symbol GCX.
    On August 13, 2007 Golden China announced an Agreement to be acquired by
Sino Gold Mining Ltd. whereby Golden China shareholders would receive one Sino
Gold share for every 4.5 Golden China common shares they hold. A definitive
support agreement was signed on September 7, 2007 and on September 18, 2007
Sino Gold purchased from treasury 5,882,352 million shares of Golden China
representing 9.5% of the issued and outstanding shares of the Corporation.

    Forward-Looking Statements: Statements in this release that are
forward-looking statements are subject to various risks and uncertainties
concerning the specific factors disclosed under the heading "Risk Factors" and
elsewhere in the Company's periodic filings with Canadian securities
regulatory authorities. Such information contained herein represents
management's best judgment as of the date hereof based on information
currently available. The Company does not assume the obligation to update any
forward-looking statement.


For further information:

For further information: Golden China Resources Corp., Kristen (Boucher)
Humphrey, Communications Manager, Tel: (416) 366-8818 ext. 230,,; or Renmark Financial
Communications Inc., Barbara Komorowski,,
Tel.: (514) 939-3989, Fax: (514) 939-3717,

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