Minco Silver Corporation
TSX : MSV

Minco Silver Corporation

April 29, 2008 09:00 ET

Minco Silver Releases Additional Step Out Drilling Results From Fuwan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2008) - Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:MSV) is pleased to report the assay results of 22 holes, for a total of 6,015.78 metres (m), from exploration drilling on its Fuwan Silver Project located in Guangdong Province, China. The program was predominantly designed to expand the known resource base through step out drilling. All of the holes in this release are considered step out holes, most of which have extended the size of the currently known mineralization.

The step out drilling was successful in extending the mineralization in the following areas:

1) The down dip direction of the north-east mineralized zone has been extended down dip and along strike by 160 metres based on two positive drill holes on sections 3W and 12E. The results ranged from 74.90 to 316.44 grams per tonne (g/t) silver (Ag) over widths from 0.97 to 5.2 metres.

2) The south-west mineralized zone was continued to be extended up dip between sections 23W to 51W for up to 200 metres along a strike length of 560 metres by 12 drill holes. The results ranged in grades from 37.00 to 934.00 g/t Ag over widths of 0.30 to 8.20 metres. Approximately half of the holes intersected multiple zones of mineralization. A significant aspect of this newly intersected mineralization; it is located away from the Unconformity Controlled Zone which was previously interpreted to control all significant mineralization fluid movement.

3) Extended known mineralization along strike approximately 300 metres from section 83W to section 93W based on two drill holes. The results ranged from 105.00 to 318.00 g/t Ag over widths from 0.10 to 1.43 metres.

The drilling program occurred between section lines 20E and 93W and the assay results are highlighted by the following intersections:

- FW0158: 211.46 g/t silver over 2.32 m and 202.72 g/t silver over 3.31 m

- FW0172: 183.67 g/t silver over 2.70 m

- FW0192: 469.30 g/t silver over 5.18 m and 388.78 g/t silver over 1.96 m and 361.33 g/t silver over 2.50 m

- FW0195: 229.50 g/t silver over 4.00 m

- FW0198: 521.00 g/t silver over 1.50 m and 385.00 g/t silver over 1.00 m

- FW0200: 316.44 g/t silver over 5.20 m

- FW0205: 87.48 g/t silver over 8.20 m



------------------------------------------------------------------------
Average Grade
From To Intercept ------------------------------
Hole No. (m) (m) (m) Au(g/t) Ag(g/t) Pb(%) Zn(%)
------------------------------------------------------------------------
FW0158 130.58 132.90 2.32 0.03 211.46 0.46 0.78
----------------------------------------------------------------
136.28 140.17 3.89 0.15 74.95 0.23 1.09
----------------------------------------------------------------
161.90 165.21 3.31 0.03 202.72 0.21 0.41
----------------------------------------------------------------
182.89 183.86 0.97 0.14 156.00 0.24 1.28
------------------------------------------------------------------------
FW0172 111.40 143.95 2.70 0.59 183.67 0.11 0.79
------------------------------------------------------------------------
FW0187 NSR - -
------------------------------------------------------------------------
FW0188 127.05 127.85 0.80 less 58.00 0.00 0.01
than
0.01
----------------------------------------------------------------
132.65 133.65 1.00 0.03 54.00 0.00 0.01
----------------------------------------------------------------
143.90 144.16 0.26 0.08 494.00 0.00 0.03
----------------------------------------------------------------
248.00 249.35 1.35 0.02 114.37 0.16 0.06
------------------------------------------------------------------------
FW0189 98.05 99.05 1.00 less 65.00 0.00 0.02
than
0.01
----------------------------------------------------------------
103.05 107.05 4.00 0.00 50.25 0.00 0.02
------------------------------------------------------------------------
FW0190 121.70 121.80 0.10 0.12 258.00 0.45 2.67
----------------------------------------------------------------
130.20 130.35 0.15 0.06 315.00 0.41 2.02
------------------------------------------------------------------------
FW0191 68.30 69.30 1.00 0.83 52.00 0.08 0.34
----------------------------------------------------------------
152.10 152.80 0.70 0.09 125.00 0.36 1.43
------------------------------------------------------------------------
FW0192 53.05 55.80 2.75 0.15 124.00 0.01 0.04
----------------------------------------------------------------
66.30 72.10 2.50 0.15 89.56 0.02 0.04
----------------------------------------------------------------
161.74 164.24 2.50 0.13 361.33 0.22 0.61
----------------------------------------------------------------
169.24 171.20 1.96 0.26 388.78 1.29 3.26
----------------------------------------------------------------
203.07 208.25 5.18 0.18 469.30 1.30 2.93
----------------------------------------------------------------
215.40 215.72 0.32 0.14 934.00 0.45 1.49
------------------------------------------------------------------------
FW0193 55.11 56.20 1.09 0.39 154.00 0.04 0.09
----------------------------------------------------------------
72.83 73.17 0.34 less 647.00 0.25 0.46
than
0.01
----------------------------------------------------------------
78.13 79.38 1.25 0.13 89.60 0.06 0.15
------------------------------------------------------------------------
FW0194 256.20 256.30 0.10 0.08 318.00 0.22 0.05
----------------------------------------------------------------
295.50 295.90 0.40 0.05 105.00 0.60 0.58
------------------------------------------------------------------------
FW0195 95.20 113.85 6.10 0.33 49.83 0.01 0.06
----------------------------------------------------------------
161.35 165.35 4.00 0.10 229.50 0.83 0.60
----------------------------------------------------------------
238.66 238.97 0.31 0.10 152.00 0.10 1.69
----------------------------------------------------------------
252.55 253.55 1.00 0.35 168.00 0.12 6.06
------------------------------------------------------------------------
FW0196 72.60 74.03 1.43 0.58 121.62 0.15 0.49
------------------------------------------------------------------------
FW0198 101.10 110.45 6.78 0.18 79.03 0.02 0.04
----------------------------------------------------------------
130.50 131.60 1.10 0.07 104.00 0.04 0.24
----------------------------------------------------------------
205.85 206.85 1.00 0.18 385.00 0.35 2.45
----------------------------------------------------------------
241.70 243.20 1.50 0.17 521.00 0.54 0.66
----------------------------------------------------------------
262.80 263.50 0.70 0.03 198.00 0.36 0.52
------------------------------------------------------------------------
FW0199 56.80 57.80 1.00 0.04 50.00 0.02 0.02
----------------------------------------------------------------
68.70 69.70 1.00 0.02 50.00 0.02 0.12
----------------------------------------------------------------
104.30 112.00 2.10 0.07 121.33 0.02 0.05
----------------------------------------------------------------
120.60 120.90 0.30 0.06 56.10 0.01 0.01
----------------------------------------------------------------
142.36 143.36 1.00 0.03 101.00 0.08 0.11
----------------------------------------------------------------
154.40 156.40 2.00 0.38 306.58 0.25 5.08
----------------------------------------------------------------
186.40 188.25 1.85 0.01 64.57 0.07 0.17
------------------------------------------------------------------------
FW0200 97.75 102.95 5.20 0.17 316.44 0.30 0.57
------------------------------------------------------------------------
FW0201 13.10 14.00 0.90 1.84 37.00 0.16 0.01
----------------------------------------------------------------
272.60 273.35 0.75 0.06 71.00 0.08 0.86
------------------------------------------------------------------------
FW0202 19.05 20.05 1.00 0.06 84.00 0.03 0.15
----------------------------------------------------------------
142.80 143.50 0.70 0.13 124.00 0.02 0.03
------------------------------------------------------------------------
FW0203 NSR - -
------------------------------------------------------------------------
FW0204 91.60 94.00 0.50 0.54 149.70 0.05 0.08
----------------------------------------------------------------
101.45 107.40 2.05 1.21 70.64 0.06 0.07
----------------------------------------------------------------
140.81 144.95 4.14 0.09 105.13 0.15 0.41
----------------------------------------------------------------
165.80 166.80 1.00 0.23 173.00 0.03 3.50
----------------------------------------------------------------
278.09 281.65 3.56 0.07 43.18 0.05 0.03
------------------------------------------------------------------------
FW0205 18.14 26.34 8.20 0.10 87.48 0.03 0.08
------------------------------------------------------------------------
FW0206 NSR - -
------------------------------------------------------------------------
FW0209 86.50 86.70 0.20 0.19 108.00 0.06 0.05
----------------------------------------------------------------
249.65 250.70 1.05 0.03 243.00 0.22 0.27
------------------------------------------------------------------------


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.

Minco Silver is encouraged by these drilling results and is continuing to work aggressively to advance the Fuwan Silver Project with further drilling. The results of these holes will be included in the resource estimate that will be completed in May. A total of five drills are currently on the property completing further step out drilling to expand the overall resource. The deposit remains open along strike to the southwest and down dip to the south.

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)(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