CAU.H China Goldcorp Ltd

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES. 

ALL AMOUNTS IN CANADIAN DOLLARS

China Goldcorp Ltd. ("China Goldcorp") (NEX:CAU.H), wishes to provide an update
on its proposed qualifying transaction with First Iron Group plc ("First Iron")
previously announced on March 26, 2012 and July 23, 2012 (the "Proposed
Transaction"). The Proposed Transaction is intended to be the Qualifying
Transaction of China Goldcorp pursuant to Policy 2.4 of the TSX Venture Exchange
(the "Exchange" or "TSXV"). 


China Goldcorp is pleased to announce that a Filing Statement prepared in
accordance with the requirements of the Exchange in connection with the Proposed
Transaction has been filed with the Exchange and applicable Canadian securities
regulators on SEDAR, and shareholders' are encouraged to review the Filing
Statement by visiting China Goldcorp's profile at www.sedar.com.


As required under National Instrument 43-101 - Standards of Disclosure for
Mineral Projects of the Canadian Securities Administrators, independent
technical reports dated May 15, 2012 entitled "A NI43-101 Technical Report on
the Petrovskoye Deposit, Kurgan Province, Russian Federation" and "A NI43-101
Technical Report on the Glubochenskoye Deposit, Kurgan Province, Russian
Federation", both prepared by SRK Consulting (UK) Limited, are now accessible on
China Goldcorp's profile on www.sedar.com, a summary of which is available in
China Goldcorp's Filing Statement.


China Goldcorp has received conditional approval from the Exchange to proceed
with completing the Proposed Transaction. The Proposed Transaction is expected
to close on or around December 31, 2012.


The amended and restated definitive agreement between China Goldcorp and First
Iron in connection with the Proposed Transaction will terminate if the Proposed
Transaction is not completed prior to 5:00 p.m. (Toronto time) on December 31,
2012 or as otherwise agreed to in writing by the parties, acting reasonably.


Maison Placements Canada Inc. ("Maison") has agreed to act as sponsor in
connection with the Proposed Transaction. An agreement to sponsor should not be
construed as any assurance with respect to the merits of the Proposed
Transaction or the likelihood of completion. In addition, Maison will act as the
agent to China Goldcorp's previously announced brokered private placement which
is expected to close concurrent with the Proposed Transaction.


Completion of the transaction is subject to a number of conditions, including
but not limited to, TSXV acceptance and, if applicable, pursuant to the
requirements of the TSXV, majority of the minority shareholder approval. Where
applicable, the transaction cannot close until the required shareholder approval
is obtained. There can be no assurance that the transaction will be completed as
proposed or at all. Investors are cautioned that, except as disclosed in the
management information circular or filing statement to be prepared in connection
with the transaction, any information released or received with respect to the
transaction may not be accurate or complete and should not be relied upon.
Trading in the securities of a capital pool company should be considered highly
speculative. 


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: 

This news release includes certain "forward-looking statements" under applicable
Canadian securities legislation. Forward-looking statements include, but are not
limited to, statements with respect to: the terms and conditions of the Proposed
Transaction; future exploration and testing; use of funds; and the business and
operations of the Resulting Issuer after the proposed transaction.
Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual results and
future events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not limited to:
general business, economic, competitive, political and social uncertainties;
delay or failure to receive board, shareholder or regulatory approvals; and the
results of current exploration and testing. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. China
Goldcorp and First Iron 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 required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
For further information regarding the Proposed Transaction,
please contact: China Goldcorp Inc.
Maurice Colson
Chief Executive Officer
416-947-6046 (FAX)


First Iron Group, PLC
Michael Hellenbrand
Chairman
647-438-2612 (FAX)

China Goldcorp (TSXV:CAU.H)
Historical Stock Chart
From Apr 2024 to May 2024

China Goldcorp (TSXV:CAU.H)
Historical Stock Chart
From May 2023 to May 2024