Minco Silver Corporation
TSX : MSV

Minco Silver Corporation

November 28, 2006 18:23 ET

Minco Silver Corporation Announces Exercise of Over-Allotment Option

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 28, 2006) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Minco Silver Corporation (TSX:MSV) ("Minco Silver") is pleased to announce that it has received notice from CIBC World Markets Inc. on behalf of a syndicate of underwriters (the "Underwriters") that also includes Canaccord Capital Corporation and Sprott Securities Inc., that the Underwriters intend to exercise partially the over-allotment option (the "Over-Allotment Option") granted to the Underwriters in connection with the public offering (the "Offering") of 5,000,000 units of Minco Silver which closed on November 17, 2006. Pursuant to the partial exercise of the Over-Allotment Option, the Underwriters have agreed to purchase from Minco Silver an additional 528,200 common shares (the "Common Shares") at a price of $2.80 per Common Share and an additional 375,000 common share purchase warrants (the "Warrants") at a price of $0.40 per Warrant, with each Warrant being exercisable at $3.45 per Common Share until May 17, 2008. The exercise of the Over-Allotment Option is expected to close on December 1, 2006.

The net proceeds from the Offering and the exercise of the Over-Allotment Option will be used by Minco Silver to fund the exploration and development program on the Fuwan Silver Property and for general working capital purposes.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

This document may contain or refer to forward-looking information based on current expectations. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

About Minco Silver

Minco Silver Corporation is a TSX-listed 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 Mining and Metals Corporation (TSX:MMM) and Silver Standard Resources Inc. (TSX:SSO).

For more information on Minco Silver and its properties, please visit the website at www.mincosilver.ca.

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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