MCG Mountain China Resorts Holding Ltd

Mountain China Resorts (Holding) Limited (TSX VENTURE:MCG) ("MCR" or the
"Company"), is pleased to announce that in furtherance to its news releases
dated December 15, 2011 and September 16, 2011, it has closed the non-brokered
private placement of 105,700,000 common shares (the "Shares"), priced at $0.18
per Share for gross proceeds of $19,026,000 (the "Offering"). The proceeds from
the Offering will be used for general working capital and for the repayment of
certain debentures. 


The Shares are subject to a TSX Venture Exchange hold period of four months and
one day from closing of the Offering. 


About MCR 

MCR is the premier developer of four season destination ski resorts in China.
MCR is transforming existing China ski properties into world-class, four seasons
luxury mountain resorts with excellent real estate investment opportunities for
discerning buyers. In February 2009, the Company's Sun Mountain Yabuli Resort
was awarded Best Resort Makeover in Asia by TIME Magazine. Yabuli is also the
permanent home of the China Entrepreneur's Forum the leading and most
influential community of China's most distinguished and successful entrepreneurs
and business leaders with over 5,000 members from across a variety of key
industries. 


ON BEHALF OF THE BOARD

Gang Han, Chief Financial Officer 

www.mountainchinaresorts.com

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