Sino Gold Limited has agreed to acquire a 19.9% shareholding in Golden Tiger Mining NL for approximately Aus$1.5 million.

GTX is focused on exploring for gold in Guangxi Province of China and its portfolio of exploration properties are complementary to Sino Gold"s exploration portfolio in the Golden Triangle.

GTX's primary asset is a joint venture with the Guangxi Bureau of Geology and Mineral Resources (BGMR). Sino Gold is the only other foreign company to have a joint venture with the Guangxi BGMR Group.

The Yueli and Weilong properties of GTX are in geological settings similar to Jinfeng and are considered to have potential for Carlin-style mineralisation. GTX also has the rights to 31 exploration licences within the Dayaoshan region in eastern Guangxi Province, which are considered to have potential for vein-style gold and base metal mineralisation.

The placement agreement with GTX provides for Sino Gold to have the right o participate pro-rata in any future equity raisings by GTX; to nominate a director to the Board of GTX; and of first and last refusal to participate in new joint ventures entered into by GTX.

Sino Gold CEO Jake Klein says: "This acquisition further expands our portfolio in the region near our flagship Jinfeng Gold Mine and is part of our strategy to be a major player in China's rapidly consolidating gold industry."