Systematic hydrogen and oxygen isotope studies of large-size and middle-size gold deposits in Jiaodong area show that primary mineralizing fluids were mainly made up of magmatic water. In the forming course of remelting granite, some metamorphic water was inherited. At the high temperature stage, mineralizing fluid was mainly magmatic water, which then tended to evolve into meteoric water. Only a few mineral deposits are of meteoric water origin. Application conditions of H. P. Taylor's equation on isotope exchange are discussed in this paper. It is pointed out that the equation fails to give a definite answer when the water/rock ratio is small. Rb-Sr isochron curve dating of fluid inclusions indicates that gold matallization occurred in Yanshanian stage, and that the ISr of mineralizing fluids in not different from that of Guojiadian and Guojialing granite.