Minco Silver Completes Field Work for the Water Monitoring Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2012) - Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:MSV)(OTCQX:MISVF)(DBFrankfurt:XYD)(WKN:A0ESX5) announces it has successfully completed all required field work related to the water monitoring program at the Fuwan Silver Project. As announced September 1, 2011, the Company engaged the General Station for Geo-Environmental Monitoring of Guangdong Province ("GSGEM") to carry out the water monitoring program to comply with the new National Water Guidelines issued by the Ministry of Environmental Protection of China.

The field work for the water monitoring program consisted of drilling 21 new hydrological holes, surveying of surface water bodies surrounding the Fuwan Silver Project, and monitoring the level and quality of the surface and underground water during all three seasons. The field work was completed in a timely manner.

Upon receiving all the assay results, GSGEM will analyze all the data and prepare a comprehensive water monitoring report for the Project. The EIA report for the project will be revised accordingly to incorporate the results from the water monitoring program. The revised EIA report will be resubmitted to the Chinese environmental protection authority for approval.

About Minco Silver

Minco Silver Corporation is a TSX and OTCQX listed company focusing on the acquisition and development of silver dominant projects. The Company owns a 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt in Guangdong, China. For more information on Minco Silver, please visit the Company's website at www.mincosilver.ca.

ON BEHALF OF THE BOARD

Dr. Ken Z. Cai, Chairman & CEO