SINO GOLD AND GOLDEN CHINA ANNOUNCE SIGNING OF SUPPORT AGREEMENT

• Golden Chinas financial advisor Genuity Capital Markets advises that the takeover offer consideration is fair from a financial point of view to the Golden China shareholders..
  

• The takeover offer has the unanimous support the Golden China board of directors.

• The takeover offer has received support from a number of major shareholders of Golden China.

• Break fee increased to C$1,000,000.

• Baker Steel Capital Managers (who own approximately 5.4%) have indicated verbal support for the Offer and have advised Sino Gold that unless there is any material change in circumstances will be tendering their shares. Baker Steel currently owns shares in Sino Gold;
  

• Gold2000 (who own approximately 6.1%) have indicated verbal support for the Offer and have advised Sino Gold that unless there is any material change in circumstances will be tendering their shares. Gold2000 currently owns shares in Sino Gold; and

• As previously announced Sino Gold has also entered into lock-up agreements with Peter Secker and with Stephen Everett, who hold in aggregate approximately 5.3% of the currently outstanding Golden China common shares.