Sino Gold"s takeover of Golden China will proceed following unanimous support from Golden China"s directors and shareholders.

Golden China shareholders will receive one Sino Gold share for every 4.5 Golden China common shares they hold.

Sino Gold has also received positive feedback from a number of major shareholders of Golden China.

Baker Steel Capital Managers, who own about 5.4%, and Gold2000, who own about 6.1%, have indicated verbal support for the offer and have advised Sino Gold that unless there is any material change in circumstances they will be tendering their shares.

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