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Minco Silver Corporation

  May 08, 2007
Minco Silver Intitiates Phase IV Exploration at Fuwan

  Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to announce that the Company has initiated a Phase IV exploration program on its Fuwan Silver deposit located in Guangdong Province, China. The program is designed to further increase the confidence level of the resource through infill drilling and cover a broad spectrum of detailed engineering work to investigate the geotechnical, hydrological, and metallurgical characteristics of the project.

Minco Silver has begun an 8,000 metre infill drilling program over the Southwest deposit area between section lines 43 and 15. The holes are located at 80 metre centres, along new section lines 40 metres apart, and decreases the distance between adjacent holes to yield a 56 metre by 56 metre grid. The deposit remains open to the South and the Company has planned for approximately 2,500 metres of "step out" drilling to test the Southern extension of the current area of interest. The drilling results from this program will be incorporated into the next resource calculation as the project advances.

Approximately 3,000 to 5,000 metres of drilling will be undertaken to evaluate the hydrological aspects of the project. The area of focus is within the Southwest and Northeast mineralized blocks as well as the Eastern boundary of the Fuwan property. Additionally, 500 kilograms of representative core from mineralized zones within the Southwest Block will be sent to an approved facility for metallurgical testing.

Minco Silver is currently operating 8 drill rigs on the property and anticipates completion of the Phase IV exploration program by the end of July, 2007. It is expected that the hydrological observations, compilation, and analysis of all test-work results will be completed soon after. The Company has also begun the process of engaging an experienced and reputable engineering firm to conduct a Preliminary Economic Analysis of the project.

Minco Silver is working aggressively to advance the Fuwan Silver Project and details of the Company's regional exploration program to test additional showings within the 10 kilometre Fuwan Silver Belt will be released within the next few weeks.

About Minco Silver

Minco Silver Corporation 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 (formerly "Minco Mining & Metals Corporation") (TSX:MMM/AMEX:MGH) and Silver Standard Resources (TSX:SSO). For more information on Minco and our properties, please visit the website at www.mincosilver.ca or contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 info@mincosilver.ca.

"Dr. Ken Z. Cai"
President & CEO

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.

You can view the Next News item: Fri May 25, 2007, Minco Silver Expands Fuwan Deposit from Phase IV Drilling

You can view the Previous News item: Wed Apr 25, 2007, Minco Silver Appoints Dwayne Melrose VP Exploration

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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