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Minco Silver Corporation

  October 02, 2006
Minco Silver Provides Additional Assay Results on its Fuwan Silver Property

Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to release additional assay results and to announce the commission of preliminary economic analysis on its Fuwan Silver Project.

Out of 34 holes (total 8,500 meters) drilled so far this year on the Fuwan deposit, the Company has released assay results for the first 17 holes (news releases dated March 3, May 10, and August 15). Assays results for additional six holes are provided in the table below, highlighted by drill hole FW0026 which returned 10.08 meters grading 295 g/t silver, 0.47g/t gold, 0.20% lead, and 0.67% zinc. Assay results for the remaining 11 drill holes are pending.
                                               Average Grade
Hole     From       To  Intercept    -------------------------------
No.        (m)      (m)        (m)   Ag(g/t)  Au(g/t)   Pb(%)   Zn(%)
FW0012 128.16   134.03       4.48     253.9     0.15    0.31    0.11
       140.37   146.65       6.28     155.6     0.12    0.10    0.49
       201.00   203.20       2.20     154.0     0.20    0.20    1.08
FW0014 236.92   240.62       3.70     143.5     0.12    0.09    0.48
       266.15   271.02       4.87      76.1     0.04    0.18    0.84
       287.00   288.20       1.20       228     0.07    1.27    0.52
FW0015  42.29    43.09       0.80     118.0     0.10    0.60    0.53
        50.40    52.44       2.04      81.6     0.10    0.12    0.35
        55.59    56.69       1.10     152.0     0.09    0.04    0.04
FW0026 285.06   295.14      10.08     295.8     0.47    0.20    0.67
       301.14   306.39       5.25     236.4     0.06    0.42    0.80
FW0028 277.11   277.47       0.36     292.0     0.06    0.13    0.68
       289.01   289.49       0.48     152.0     0.04    0.11    0.16
FW0029 268.87   270.92       2.05      97.1     0.11    0.08    0.21
       289.06   289.46       0.40    1413.0     0.18    0.95    2.44
Drill core was split using a diamond saw following geological logging. The split core samples were then sealed by Minco geologists and shipped to PRA's Kunming Lab for sample preparation and assayed for Ag, Au, Pb and Zn. Silver was assayed with fire assay and Pb and Zn were assayed with acid digestion and AA finish. Assay results were further checked at PRA's Vancouver lab as an internal check.

Reference materials were inserted by Minco staff geologists as a further assay control. About 20% samples were selected by Minco geologist and were re-analysed at commercial labs in Vancouver. The assay data provided by PRA is considered acceptable. This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board, and designated Qualified Person.

Since early September, Minco Silver's geologists began data compilation and report preparation for the Phase I and II programs at Fuwan. A preliminary economic evaluation will be commissioned shortly to determine project viability and the initial mining area. A program comprising more detailed infill drilling, geotechnical and hydrological studies, metallurgical testing, and environmental base-line studies, will be designed to be initiated in October, 2006.

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/AMEX:MMK) and Silver Standard Resources (TSX:SSO). For more information on Minco Silver and its properties, please visit the website at or contact Mark Orsmond at 1-888-288-8288 or (604) 688-8002

"William Meyer"

The Toronto Stock Exchange does not accept responsibility for the accuracy of this news release. 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.

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You can view the Next News item: Wed Oct 25, 2006, Minco Silver Releases Final Assay Results of the Drilling Program Completed on its Fuwan Silver Property

You can view the Previous News item: Tue Aug 15, 2006, Minco Silver Provides Fuwan Silver Drilling Update and the Development Plan

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Legal Information

Head Office

2060 - 1055 West Georgia Street
PO Box 11176
Vancouver, BC
Canada V6E 3R5
Tel: 604-688-8002
Fax: 604-688-8030
Toll Free: 1-888-288-8288

Minco Mining (China) Corporation

Suite 1706, Tower C, Global Trade Centre
36, East Beisanhuan Road
Dongcheng District, Beijing
Peoples Republic of China 100013
Tel: +86-10-59575377
Fax: +86-10-59575356