Minco Silver Corporation
TSX : MSV

Minco Silver Corporation

October 04, 2007 12:13 ET

Minco Silver Releases Assay Results From Phase V Drilling Program on the Fuwan Silver Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:MSV) is pleased to report the assay results of 16 holes from the Phase V exploration program on its Fuwan Silver deposit located in Guangdong Province, China. The program was designed to further increase the level of confidence of the resource through in-fill and step out drilling, and encompasses a broad spectrum of detailed engineering work designed to investigate the geotechnical, hydrological, and metallurgical aspects of the project. Phase V drilling was completed in late September with a total of 18 holes being drilled for 3,650 metres.

The combined in-fill and step out drilling program over the Northeast area occurred between section lines 3 and 16. The holes are located at 40 metre centres, along section lines 40 metres apart, and decreases the distance between adjacent holes to approximately 60 metres by 60 metres. The in-fill drilling predominantly confirmed the consistency of north eastern mineralized zone. Two of the thirteen holes reported here (FW115 and FW0120) are step out holes that have extended the mineralization to the south. The deposit remains open in the southwest strike direction and down-dip to the south. FW0107, FW0113 and FW0116 did not completely test the targets before the holes were stopped. These targets will be re-drilled in the immediate future. Please visit the company's website at www.mincosilver.ca to view a map of the Phase V drill hole locations.

Zone widths for these 16 holes completed varied from 0.75 metres (m) to 7.90 m with silver grades ranging from 93.03 grams per tonne (g/t) to 1,456.50 g/t. The assay results are highlighted by the following intersections:

- FW0110: 118.52 g/t silver over 6.00 m, 107.20 g/t silver over 4.30 m, 655.69 g/t silver over 4.70 m, and 216.16 g/t silver over 7.64 m

- FW0111: 574.00 g/t silver over 2.00 m

- FW0114: 372.58 g/t silver over 3.24 m

- FW0115: 292.20 g/t silver over 7.90 m and 1,456.50 g/t silver over 1.07 m

- FW0117: 233.92 g/t silver over 6.00 m, 209.41 g/t silver over 2.23 m, 353.90 g/t silver over 4.20 m and 412.67 g/t silver over 3.30 m

- FW0118: 177.27 g/t silver over 4.63 m

- FW0120: 190.67 g/t silver over 7.13 m, 265.46 g/t silver over 3.28 m

- FW0122: 160.64 g/t silver over 5.92 m

- FW0124: 1,166.00 g/t silver over 1.25 m



-------------------------------------------------------------------------
Average Grade
-------------------------------------------------------------------------
From To Intercept Au Ag Pb Zn
Hole No. (m) (m) (m) (g/t) (g/t) (%) (%)
-------------------------------------------------------------------------
FW0107 NSR
-------------------------------------------------------------------------
FW0110 281.50 287.50 6.00 0.41 118.52 0.06 0.44
---------------------------------------------------------
297.30 301.60 4.30 0.15 107.20 0.15 0.40
---------------------------------------------------------
315.00 319.70 4.70 0.08 655.69 0.71 0.60
---------------------------------------------------------
324.70 332.34 7.64 0.08 216.16 0.43 1.18
---------------------------------------------------------
353.50 355.30 1.80 0.07 168.11 0.49 1.11
-------------------------------------------------------------------------
FW0111 262.20 264.20 2.00 0.15 574.00 0.44 0.49
---------------------------------------------------------
295.10 295.85 0.75 0.05 267.50 0.30 1.98
---------------------------------------------------------
321.80 322.60 0.80 0.17 253.50 0.12 0.06
-------------------------------------------------------------------------
FW0112 258.20 259.50 1.30 0.05 165.00 0.06 0.13
-------------------------------------------------------------------------
FW0113 NSR
-------------------------------------------------------------------------
FW0114 181.24 184.48 3.24 0.07 372.58 0.54 1.72
-------------------------------------------------------------------------
FW0115 98.70 106.60 7.90 0.09 292.20 0.46 0.36
---------------------------------------------------------
124.58 125.65 1.07 0.45 1,456.50 4.50 10.73
-------------------------------------------------------------------------
FW0116 NSR
-------------------------------------------------------------------------
FW0117 92.81 98.81 6.00 0.24 233.92 0.15 0.52
---------------------------------------------------------
104.94 105.94 1.00 0.19 165.00 0.12 0.31
---------------------------------------------------------
113.98 116.21 2.23 0.06 209.41 0.48 0.93
---------------------------------------------------------
126.94 131.14 4.20 0.09 353.90 1.28 2.63
---------------------------------------------------------
153.59 156.89 3.30 0.04 412.67 1.08 2.05
-------------------------------------------------------------------------
FW0118 65.67 70.30 4.63 0.19 177.27 0.10 0.15
-------------------------------------------------------------------------
FW0120 116.70 123.83 7.13 0.19 190.67 0.64 0.45
---------------------------------------------------------
128.70 131.98 3.28 0.23 265.46 1.20 2.19
---------------------------------------------------------
145.01 146.06 1.05 0.11 356.00 0.59 2.10
-------------------------------------------------------------------------
FW0121 107.30 110.30 3.00 0.13 173.00 0.10 0.38
-------------------------------------------------------------------------
FW0122 100.33 106.25 5.92 0.17 160.64 0.78 1.40
-------------------------------------------------------------------------
FW0124 127.75 129.00 1.25 0.11 1,166.00 2.35 1.63
-------------------------------------------------------------------------
FW0125 165.95 170.18 4.23 0.10 93.03 0.33 1.77
-------------------------------------------------------------------------
FW0126 107.82 109.85 2.03 0.15 152.24 1.62 4.35
-------------------------------------------------------------------------


True widths for the mineralized zones are typically from 85% to 100% of the stated intercepts.

Minco Silver is encouraged by the Phase V drilling results and is continuing to work aggressively to advance the Fuwan Silver Project with further drilling. A total of 9 drills are currently on the property completing in-fill, step out, and hydrogeological drilling.

Samples were prepared and assayed at PRA Kunming lab (Process Research Associated Ltd.) with supervision of a certified BC assayer. Silver was assayed with fire assay and AAS or gravimetric finish. Assay results were further checked at PRA's Vancouver lab as an external check. Samples have also been sent to ASL Chemex Laboratories in Guangzhou, Guangdong Province, PRC for additional check analysis. Reference materials were inserted by Minco staff geologists as a further assay control.

This new release has been reviewed and approved for release by Mr. Dwayne Melrose, P. Geo, Vice President Exploration for Minco Silver, and is the Qualified Person responsible for verification and quality assurance of the company's exploration data and analytical results.

About Minco Silver

Minco Silver Corporation (TSX:MSV) is a TSX company focusing on the acquisition and development of silver dominant projects in China. The Company is the exclusive vehicle for pursuing silver opportunities in China pursuant to a strategic alliance agreement between Minco Gold Corporation (formerly "Minco Mining & Metals Corporation") (TSX:MMM)(AMEX:MGH)(FRANKFURT:MI5) and Silver Standard Resources (TSX:SSO).

ON BEHALF OF THE BOARD

Dr. Ken Z. Cai, Chairman & CEO

Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. The Company undertakes no obligation and has no intention of updating forward-looking statements.

The Toronto Stock Exchange does not accept responsibility for the accuracy of this news release.

Contact Information