Sino Gold And Golden China Announce Completion Of Take-Over Bid

    TORONTO, Dec. 11 /CNW/ - Sino Gold Mining Limited ABN (together with its
subsidiaries, "Sino Gold") (ASX: SGX, SEHK:1862) and Golden China Resources
Corporation ("Golden China") (TSX/ASX: GCX) announce that at the expiry of the
Offer earlier today, approximately 59,123,000 Golden China common shares, or
approximately 92.5% of the issued and outstanding Golden China shares (on a
fully-diluted basis), were deposited and not withdrawn prior to the expiry
time of the Offer, and have been taken up by Sino Gold.
    The Sino Gold shares, and the net cash proceeds from the sales of the
Sino Gold shares pursuant to cash sales elections made under the Offer (less
applicable taxes, withholdings, deductions, fees and expenses), are expected
to be issued and delivered shortly.
    Pursuant to the terms of the Offer, Sino Gold expects to compulsorily
acquire the Golden China shares not acquired pursuant to the Offer. Golden
China shares are also expected to be de-listed from the Toronto Stock Exchange

    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.


For further information:

For further information: Investor Enquiries: Jake Klein, CEO or Roger
Howe, Investor Relations, +61 2 8259 7000,; Media
Enquiries: Kate Kerrison, +61 2 6746 3221,; Or visit
the Sino Gold website

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