Guangyuan Intermediate People's Court in southwest China's Sichuan Province delivered the verdicts on 41 people charged with intentional homicide and affray.
Four were sentenced to life in prison and others got prison terms ranging from three to 15 years.
In a case that shocked the nation, in 1994 two groups of gold diggers led by Li Hong and Li Daiming, numbering over 180 people fought with guns, knives and explosives along the Bailongjiang River in Guangyuan, where a gold rush was taking place.
Li Daiming and other suspects went into hiding after the fight.
Li, however, surrendered to police in 2012 and was among the three given death penalties.