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Minco Silver Corporation

  January 31, 2012
Minco Silver Completes Field Work for the Water Monitoring Program

  Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV; OTCQX: MISVF; WKN: A0ESX5) announces it has successfully completed all required field work related to the water monitoring program at the Fuwan Silver Project. As announced September 1, 2011, the Company engaged the General Station for Geo-Environmental Monitoring of Guangdong Province ("GSGEM") to carry out the water monitoring program to comply with the new National Water Guidelines issued by the Ministry of Environmental Protection of China.

The field work for the water monitoring program consisted of drilling 21 new hydrological holes, surveying of surface water bodies surrounding the Fuwan Silver Project, and monitoring the level and quality of the surface and underground water during all three seasons. The field work was completed in a timely manner.

Upon receiving all the assay results, GSGEM will analyze all the data and prepare a comprehensive water monitoring report for the Project. The EIA report for the project will be revised accordingly to incorporate the results from the water monitoring program. The revised EIA report will be resubmitted to the Chinese environmental protection authority for approval.

About Minco Silver

Minco Silver Corporation is a TSX and OTCQX listed company focusing on the acquisition and development of silver dominant projects. The Company owns a 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt in Guangdong China. For more information on Minco Silver, please visit the Company's website at www.mincosilver.ca or contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 ir@mincosilver.ca.

"Dr. Ken Z. Cai"
Chairman & CEO

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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