Minco Silver Corporation
TSX : MSV

Minco Silver Corporation

May 05, 2008 09:39 ET

Minco Silver Completed a Major Step Out Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2008) - Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:MSV) is pleased to report the completion of current step out drill program totaling 19,898 metres in 72 holes, on its Fuwan Silver Project located in Guangdong, China. This step out drill program has successfully extended the Fuwan Deposit to the west, southwest, and to the south and also extended the mineralization regionally along strike to the southwest. The deposit remains open along strike to the southwest and down dip to the south. The regional exploration program will continue to follow the mineralization along strike to the southwest along the Fuwan Silver Belt.

Previously, the Company has released the assay results for 60 holes from this drill program. The assay results of the final 12 holes (3,454.84 metres) are detailed in the table below:



--------------------------------------------------------------------------
Average Grade
Hole No. From To Intercept -----------------------------------
(m) (m) (m) Au(g/t) Ag(g/t) Pb(%) Zn(%)
--------------------------------------------------------------------------
FW0197 130.60 133.90 0.80 0.21 145.00 1.04 3.02
----------------------------------------------------------------
163.80 167.30 1.30 0.85 216.77 0.25 0.50
--------------------------------------------------------------------------
FW0207 NSR - -
--------------------------------------------------------------------------
FW0208 130.28 130.50 0.22 0.03 176.00 0.03 0.06
----------------------------------------------------------------
173.90 175.10 1.20 0.10 356.00 0.13 0.84
--------------------------------------------------------------------------
FW0210 NSR - -
--------------------------------------------------------------------------
FW0211 34.60 44.05 8.35 0.30 41.25 0.02 0.03
----------------------------------------------------------------
185.10 185.95 0.85 0.05 51.20 0.11 0.08
--------------------------------------------------------------------------
FW0212 41.52 45.93 1.91 0.06 111.12 0.03 0.15
----------------------------------------------------------------
58.70 62.10 3.40 0.03 48.53 0.02 0.10
----------------------------------------------------------------
68.35 68.70 0.35 0.21 362.00 0.28 0.08
----------------------------------------------------------------
246.68 247.20 0.52 0.04 61.00 0.04 0.15
--------------------------------------------------------------------------
FW0213 NSR - -
--------------------------------------------------------------------------
FW0214 402.64 403.84 1.20 0.25 154.00 0.61 4.17
--------------------------------------------------------------------------
FW0219 NSR - -
--------------------------------------------------------------------------
FW0220 75.90 77.00 1.10 0.03 62.00 0.01 0.03
----------------------------------------------------------------
79.80 81.90 2.10 0.32 50.52 0.03 0.07
----------------------------------------------------------------
86.10 94.05 7.95 0.12 203.86 0.13 0.11
----------------------------------------------------------------
121.80 124.90 3.10 0.11 180.87 0.08 0.59
----------------------------------------------------------------
135.80 136.10 0.30 0.03 97.00 0.04 0.23
--------------------------------------------------------------------------
FW0221 43.90 44.20 0.20 0.25 1079.00 0.18 0.44
----------------------------------------------------------------
57.40 57.60 0.20 0.07 616.00 0.67 0.30
----------------------------------------------------------------
119.87 120.05 0.18 0.86 3107.00 1.69 2.67
--------------------------------------------------------------------------
FW0223 83.10 84.00 0.90 0.02 155.00 0.14 0.84
--------------------------------------------------------------------------


True widths for the mineralized zones typically range from 75% to 95% of the stated intercepts. Please visit the Company's website at www.mincosilver.ca to view a map of the drill hole locations.

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.

Mr. Dwayne Melrose, P. Geo, Vice President Exploration for Minco Silver, has reviewed this news release 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 (TSX:MMM)(AMEX:MGH)(FSE: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.

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