Minco Silver Commenced Drilling on Fuwan Silver Belt

Minco Silver Commenced Drilling on Fuwan Silver Belt

Minco Silver Corporation announce that it has initiated a 10,000 metre drill program on top showings along the Fuwan Silver Belt.

Geosan, LLC, of Ulaanbatar, Mongolia, recently completed a detailed ground magnetic survey covering approximately 155 line kilometres as well as 21 line kilometres of dipole-dipole induced polarization survey. Combined with previous geochemical surveys consisting of 50,000 individual soil samples, a number of highly prospective targets were generated. Minco Silver currently has 2 diamond drill rigs testing these targets along the Fuwan Silver Belt.

Minco Silver’s Chairman and CEO, Dr. Ken Cai, commented: “Further to the drilling on the Belt, the Fuwan Silver project remains our primary focus and we are very pleased with our progress to date. Our International Bankable Feasibility Study and Environmental Impact Assessment remain on target for completion by year end and the permitting process is advancing well.”

In addition, Minco Silver is working with Sterling Mining Company (“Sterling”) on the repayment of the US$5,000,000 loan (the “Loan”) provided to Sterling pursuant to the Credit Facility Agreement dated July 30, 2008. The Loan is fully secured by substantially all assets of Sterling pursuant to an All Assets Security Agreement and a Mortgage, Assignment of Leases and Rents Security Agreement.

Minco Silver Corporation is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 100% interest in the World Class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt. The Company is the exclusive vehicle for pursuing silver opportunities in China pursuant to a strategic alliance agreement between Minco Gold Corporation and Silver Standard Resources.

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