|April 23, 2008
Minco Silver Initiates Bankable Feasibility at Fuwan
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to announce that the Company has retained Wardrop Engineering Inc. ("Wardrop") to prepare a 43-101 compliant Bankable Feasibility study for its Fuwan Silver Project located in Guangdong Province, China.
Established in 1955, Wardrop is an internationally recognized, employee-owned Canadian firm with 17 locations in Canada, Africa, China, India, the United Kingdom, and the USA. In the past three years, Wardrop has been involved in over 50 NI 43-101 compliant feasibility studies in over 55 countries world-wide with a client list that includes BHP Billiton, Cameco Corporation, Eldorado Gold, Falconbridge (Xstrata), Goldcorp, INCO, Teck Cominco, and Yamana Gold among others. Having considerable work experience in China, Wardrop's highly qualified team of specialists understands the culture and has built relationships both personally and professionally with local Chinese institutes.
Wardrop has assembled a multi-disciplinary team to complete the report suitable for submission to international banking institutions. They have partnered with Environmental Resources Management in China ("ERM") to complete the environmental aspects of the feasibility study which will be done to IFC ("International Finance Corporation") standards. As well, China Nerin Engineering Co., Ltd. ("NERIN"), have been approached to assist in specific areas of the engineering work. Wardrop will lead and manage the feasibility study out of its Beijing office.
Minco Silver plans to deliver an updated resource estimation in May, 2008, that will serve as a basis for the feasibility study. The feasibility study is expected to be completed by the end of 2008.
Minco Silver's Chairman and CEO commented: "We are very pleased with our progress to date and excited to embark upon the road to production. The Company has advanced the Fuwan Project considerably in a very short period of time and is poised to continue with rapid development and a production target of 2010."
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/FSE:MI5) and Silver Standard Resources (TSX:SSO).
For more information on Minco Silver, please visit the website at www.mincosilver.ca or
Ute Koessler at 1-888-288-8288 or (604) 688-8002
ON BEHALF OF THE BOARD
"Dr. Ken Z. Cai"
Chairman & 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.
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