Minco Silver Corporation
TSX : MSV

Minco Silver Corporation

April 03, 2007 09:15 ET

Minco Silver Announces the Remaining Assay Results From Phase III Drilling on the Fuwan Silver Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2007) - Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:MSV) is pleased to announce the assay results for the remaining 19 holes of the Phase III drilling program on its Fuwan Silver Project located in the Guangdong Province in southeast China. The program consisted of 30 holes, adding 7,509 metres of core drilling, and increases the drill density to 80 metres by 80 metres. To date, the Company has completed 65 holes for a total of 16,009 metres of core drilling on the project and is expecting to announce a resource upgrade in the near term that incorporates all the data generated from the Phase I, II, and III drill programs.

Zone widths for the remaining 19 holes varied from 0.28 metres to 12.65 metres with silver grades ranging from 56.92 grams per tonne to 1,438.00 grams per tonne. The assay results are highlighted by hole FW0050 (599.09 g/t silver over 3.01m), hole FW0057 (404.16g/t silver over 3.32m), hole FW0058 (867.20 g/t silver over 1.82m), and hole FW0059 (160.96 g/t silver over 7.85m).

Detailed results for the 19 core drill holes announced today are provided below:



--------------------------------------------------------------------------
Average Grade
From To Intercept -------------------------------
Hole Section (m) (m) (m) Au(g/t) Ag(g/t) Pb(%) Zn(%)
--------------------------------------------------------------------------
FW0036 39 175.80 177.80 2.00 0.32 285.05 0.24 0.99
--------------------------------------------------------------------------
FW0037 39 117.60 119.60 2.00 0.69 67.00
----------------------------------------------------------
121.60 134.25 12.65 0.22 121.11 0.15 1.26
--------------------------------------------------------------------------
FW0038 0 303.01 304.18 1.17 0.10 81.50
--------------------------------------------------------------------------
FW0039 35 147.45 154.88 7.43 0.30 139.92 0.10 0.78
----------------------------------------------------------
172.65 173.73 1.08 0.13 95.00 0.18 0.22
----------------------------------------------------------
195.52 196.70 1.18 0.05 89.00 0.06 0.25
--------------------------------------------------------------------------
FW0042 31 130.80 134.55 3.75 0.20 123.76 0.02 0.03
----------------------------------------------------------
163.83 164.53 0.70 0.06 165.00 0.09 0.30
--------------------------------------------------------------------------
FW0043 31 198.70 199.20 0.50 0.01 133.50
----------------------------------------------------------
242.87 243.15 0.28 0.15 1438.00 0.51 1.74
--------------------------------------------------------------------------
FW0044 27 205.00 207.30 2.30 0.35 407.22 0.21 0.33
--------------------------------------------------------------------------
FW0045 23 140.50 147.70 5.50 0.10 56.92 0.03 0.03
--------------------------------------------------------------------------
FW0046 23 259.34 261.08 1.74 0.29 343.51 0.37 3.24
----------------------------------------------------------
275.43 276.66 1.23 0.14 109.00 0.56 1.88
--------------------------------------------------------------------------
FW0047 No
Mineral-
ization
--------------------------------------------------------------------------
FW0048 15 227.50 245.50 11.10 0.21 99.67 0.16 0.45
--------------------------------------------------------------------------
FW0050 15 248.37 251.38 3.01 0.24 599.09 0.52 0.72
----------------------------------------------------------
281.45 282.57 1.12 0.03 255.00 0.11 0.02
----------------------------------------------------------
308.00 309.06 1.06 0.02 160.00 0.24 0.36
--------------------------------------------------------------------------
FW0052 7 221.40 227.30 3.40 0.08 148.29 0.10 0.03
----------------------------------------------------------
245.50 246.10 0.60 0.21 203.00 0.06 0.09
----------------------------------------------------------
278.45 279.35 0.90 0.30 444.50 0.11 0.37
--------------------------------------------------------------------------
FW0054 7 301.56 302.46 0.90 0.13 576.00 3.22 2.66
----------------------------------------------------------
80.40 83.65 3.25 0.08 190.98 0.15 0.29
----------------------------------------------------------
97.53 98.66 1.13 0.39 463.00 0.99 6.06
--------------------------------------------------------------------------
FW0057 8 102.35 105.67 3.32 0.17 404.16 0.55 1.41
----------------------------------------------------------
119.75 120.70 0.95 0.10 223.50 1.26 0.58
--------------------------------------------------------------------------
FW0058 12 76.64 78.46 1.82 0.55 867.20 0.76 0.98
----------------------------------------------------------
112.72 113.32 0.60 0.05 148.00 1.25 0.10
----------------------------------------------------------
135.86 136.75 0.89 0.04 445.00 0.56 1.12
--------------------------------------------------------------------------
FW0059 23 224.92 233.47 7.85 0.19 160.96 0.23 0.40
----------------------------------------------------------
257.37 258.62 1.25 0.02 85.00 0.05 0.16
--------------------------------------------------------------------------
FW0060 12 176.11 176.69 0.58 0.18 287.50
--------------------------------------------------------------------------
FW0065 11 262.50 264.50 2.00 0.16 113.80
--------------------------------------------------------------------------

For convenience, a summary table of all 30 holes of the Phase III program
is shown below:


--------------------------------------------------------------------------
Average Grade
From To Intercept -------------------------------
Hole (m) (m) (m) Au(g/t) Ag(g/t) Pb(%) Zn(%)
--------------------------------------------------------------------------
FW0025 115.50 118.90 3.40 0.28 345.18 0.10 0.15
----------------------------------------------------------
182.85 198.20 15.35 0.17 329.81 0.52 0.99
--------------------------------------------------------------------------
FW0036 175.80 177.80 2.00 0.32 285.05 0.24 0.99
--------------------------------------------------------------------------
FW0037 117.60 119.60 2.00 0.69 67.00
----------------------------------------------------------
121.60 134.25 12.65 0.22 121.11 0.15 1.26
--------------------------------------------------------------------------
FW0038 303.01 304.18 1.17 0.10 81.50
--------------------------------------------------------------------------
FW0039 147.45 154.88 7.43 0.30 139.92 0.10 0.78
----------------------------------------------------------
172.65 173.73 1.08 0.13 95.00 0.18 0.22
----------------------------------------------------------
195.52 196.70 1.18 0.05 89.00 0.06 0.25
--------------------------------------------------------------------------
FW0040 185.00 187.90 2.90 0.13 581.52 0.96 0.54
--------------------------------------------------------------------------
FW0041 170.25 182.40 12.15 0.57 458.12 0.36 0.68
--------------------------------------------------------------------------
FW0042 130.80 134.55 3.75 0.20 123.76 0.02 0.03
----------------------------------------------------------
163.83 164.53 0.70 0.06 165.00 0.09 0.30
--------------------------------------------------------------------------
FW0043 98.70 199.20 0.50 0.01 133.50
----------------------------------------------------------
242.87 243.15 0.28 0.15 1438.00 0.51 1.74
--------------------------------------------------------------------------
FW0044 205.00 207.30 2.30 0.35 407.22 0.21 0.33
--------------------------------------------------------------------------
FW0045 140.50 147.70 5.50 0.10 56.92 0.03 0.03
--------------------------------------------------------------------------
FW0046 259.34 261.08 1.74 0.29 343.51 0.37 3.24
----------------------------------------------------------
275.43 276.66 1.23 0.14 109.00 0.56 1.88
--------------------------------------------------------------------------
FW0047 No
Mineral-
ization
--------------------------------------------------------------------------
FW0048 227.50 245.50 11.10 0.21 99.67 0.16 0.45
--------------------------------------------------------------------------
FW0049 230.03 231.03 1.00 0.15 115.00 0.02 0.06
----------------------------------------------------------
245.48 246.48 1.00 0.18 240.00 0.13 0.09
--------------------------------------------------------------------------
FW0050 248.37 251.38 3.01 0.24 599.09 0.52 0.72
----------------------------------------------------------
281.45 282.57 1.12 0.03 255.00 0.11 0.02
----------------------------------------------------------
308.00 309.06 1.06 0.02 160.00 0.24 0.36
--------------------------------------------------------------------------
FW0051 321.60 321.85 0.25 0.04 713.00 0.21 0.39
--------------------------------------------------------------------------
FW0052 221.40 227.30 3.40 0.08 148.29 0.10 0.03
----------------------------------------------------------
245.50 246.10 0.60 0.21 203.00 0.06 0.09
----------------------------------------------------------
278.45 279.35 0.90 0.30 444.50 0.11 0.37
--------------------------------------------------------------------------
FW0053 284.29 288.25 3.96 0.22 1223.74 0.98 2.02
----------------------------------------------------------
300.55 302.02 1.47 0.10 501.52 0.19 1.14
--------------------------------------------------------------------------
FW0054 301.56 302.46 0.90 0.13 576.00 3.22 2.66
--------------------------------------------------------------------------
FW0055 194.89 197.63 2.74 0.17 126.17 0.06 0.25
--------------------------------------------------------------------------
FW0057 80.40 83.65 3.25 0.08 190.98 0.15 0.29
----------------------------------------------------------
97.53 98.66 1.13 0.39 463.00 0.99 6.06
----------------------------------------------------------
102.35 105.67 3.32 0.17 404.16 0.55 1.41
----------------------------------------------------------
119.75 120.70 0.95 0.10 223.50 1.26 0.58
--------------------------------------------------------------------------
FW0058 76.64 78.46 1.82 0.55 867.20 0.76 0.98
----------------------------------------------------------
112.72 113.32 0.60 0.05 148.00 1.25 0.10
----------------------------------------------------------
135.86 136.75 0.89 0.04 445.00 0.56 1.12
--------------------------------------------------------------------------
FW0059 224.92 233.47 7.85 0.19 160.96 0.23 0.40
----------------------------------------------------------
257.37 258.62 1.25 0.02 85.00 0.05 0.16
--------------------------------------------------------------------------
FW0060 176.11 176.69 0.58 0.18 287.50
--------------------------------------------------------------------------
FW0061 132.52 133.52 1.00 0.36 112.00 0.06 0.05
----------------------------------------------------------
148.00 149.50 1.50 0.04 348.50 1.01 0.17
----------------------------------------------------------
178.16 179.24 1.08 0.08 165.50 1.26 4.43
----------------------------------------------------------
204.43 207.20 2.77 0.06 386.20 1.66 3.50
----------------------------------------------------------
211.45 213.65 2.20 0.07 106.30 0.28 2.35
--------------------------------------------------------------------------
FW0062 222.24 226.34 4.10 0.34 268.00 0.07 0.21
----------------------------------------------------------
230.52 238.06 7.54 0.21 388.64 0.59 1.23
----------------------------------------------------------
261.04 264.48 3.44 0.19 233.57 0.28 2.55
----------------------------------------------------------
269.06 269.56 0.50 0.07 700.00 3.99 3.76
----------------------------------------------------------
284.00 284.58 0.58 0.10 173.75 0.58 1.76
--------------------------------------------------------------------------
FW0063 188.22 191.22 3.00 0.11 311.33 0.12 0.16
----------------------------------------------------------
199.22 200.22 1.00 0.08 308.00 0.18 0.26
--------------------------------------------------------------------------
FW0064 221.80 237.00 15.20 0.11 130.93 0.14 0.53
--------------------------------------------------------------------------
FW0065 262.50 264.50 2.00 0.16 113.80
--------------------------------------------------------------------------


All widths are approximate true widths.

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. Reference materials were inserted by Minco staff geologists as a further assay control. This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board and designated Qualified Person.

About Minco Silver

Minco Silver Corporation 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) and Silver Standard Resources (TSX:SSO).

ON BEHALF OF THE BOARD

Ken Z. Cai, President & 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.

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