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Minco Silver Corporation

 August 16, 2007
Minco Silver Continues to Expand Fuwan Deposit with the Completion of Phase IV Drilling

 
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to report the assay results of 30 holes from the Phase IV exploration program on its Fuwan Silver deposit located in Guangdong Province, China. The program was designed to further increase the level of confidence of the resource through infill and step out drilling and encompasses a broad spectrum of detailed engineering work designed to investigate the geotechnical, hydrological, and metallurgical aspects of the project. Phase IV drilling was completed in late June with a total of 45 holes being drilled for 11,451.8 metres.

The combined infill and step out drilling program over the Southwest area occurred between section lines 43 and 15. The holes are located at 80 metre centres, along section lines 40 metres apart, and decreases the distance between adjacent holes to approximately 60 metres by 60 metres. The infill drilling predominantly confirmed the consistency of south western mineralized zone. Seven of the thirty holes reported here (FW0074, 78, 80, 99, 103, 105 and 106) are step out holes that have extended the mineralization to the Northeast and to the South up to 40 to 80 metres in localized locations. The deposit remains open in both directions and further drilling is planned to delineate these extensions before a new resource calculation is made. Please visit the company's website at www.mincosilver.ca to view a map of the Phase IV drill hole locations.

Zone widths for these 30 holes completed varied from 0.20 metres to 14.25 metres (m) with silver grades ranging from 20.7 grams per tonne to 10,429.0 grams per tonne (g/t). The assay results are highlighted by the following intersections:

• FW0072: 208.33 g/t silver over 6.66 m, 136.3 g/t silver over 3.2 m
• FW0078: 434.32 g/t silver over 14.25 m
• FW0081: 194.83 g/t silver over 7.50 m
• FW0085: 293.90 g/t silver over 6.1 m
• FW0090: 91.64 g/t silver over 7.0 m and 557.49 g/t silver over 7.81 m
• FW0095: 204.51 g/t silver over 3.82 m and 99.67 g/t silver over 6.0 m
• FW0096: 768.67 g/t silver over 5.4 m
• FW0099: 149.09 g/t silver over 6.8 m and 200.63 g/t silver over 3.1 m
• FW0102: 1,602.89 g/t silver over 3.33 m
• FW0105: 1,165.28 g/t silver over 2.65 m
• FW0106: 808.24 g/t silver over 2.05 m
• FW0109: 282.27 g/t silver over 2.54 m

------------------------------------------------------------------
                                             Average Grades
                                      ----------------------------
              From      To  Intercept    Au        Ag     Pb    Zn
Hole No.        (m)     (m)        (m) (g/t)     (g/t)    (%)   (%)
------------------------------------------------------------------
FW0071      176.25  177.60       1.35  0.42    549.00   0.28  3.37
            ------------------------------------------------------
            183.05  188.05       5.00  0.38    164.70   0.10  0.45
            ------------------------------------------------------
            207.84  209.51       1.67  0.19    193.34   0.23  3.15
------------------------------------------------------------------
FW0072      130.86  137.52       6.66  0.39    208.33   0.12  0.36
            ------------------------------------------------------
            172.47  175.67       3.20  0.12    136.30   0.04  0.18
------------------------------------------------------------------
FW0073      190.86  191.21       0.35  0.35 10,429.00   4.00  5.72
------------------------------------------------------------------
FW0074      No significant values      
------------------------------------------------------------------
FW0075      176.42  177.22       0.80  0.03    505.00   0.98  2.51
------------------------------------------------------------------
FW0078      172.90  187.15      14.25  0.16    434.32   0.23  1.43
            ------------------------------------------------------
            194.82  196.98       2.16  0.11    153.00   0.10  0.80
------------------------------------------------------------------
FW0080      123.08  124.28       1.20  0.21    188.00   0.06  0.11
------------------------------------------------------------------
FW0081      188.87  196.37       7.50  0.06    194.83   0.10  0.43
            ------------------------------------------------------
            202.98  204.08       1.10  0.08    107.50   0.42  2.03
------------------------------------------------------------------
FW0082      217.39  218.52       1.13  0.07    118.50   0.12  0.41
------------------------------------------------------------------
FW0084      166.92  168.92       2.00  0.07    101.00   0.03  0.09
            ------------------------------------------------------
            191.12  193.00       1.88  0.15     95.61   0.20  0.31
------------------------------------------------------------------
FW0085      191.44  192.55       1.11  0.16     93.50   0.17  1.43
            ------------------------------------------------------
            205.60  211.70       6.10  0.28    293.90   0.21  0.39
            ------------------------------------------------------
            226.75  227.75       1.00  0.14    113.00   0.13  0.37
            ------------------------------------------------------
            245.88  246.88       1.00  0.25    108.00   0.12  0.43
------------------------------------------------------------------
FW0086      240.00  240.20       0.20  0.04    117.50     
------------------------------------------------------------------
FW0087      230.61  230.89       0.28  0.23  1,171.50   0.42  1.75
------------------------------------------------------------------
FW0088      302.63  303.52       0.89  0.11     32.00     
------------------------------------------------------------------
FW0090      158.93  165.93       7.00  0.28     91.64   0.03  0.11
            ------------------------------------------------------
            223.15  230.96       7.81  0.11    557.49   0.27  1.28
            ------------------------------------------------------
            250.20  251.50       1.30  0.10    177.00   0.06  0.17
------------------------------------------------------------------
FW0091      241.90  242.75       0.85  0.11     26.10     
------------------------------------------------------------------
FW0092      220.60  226.10       5.50  0.33    108.97   0.06  0.08
            ------------------------------------------------------
            255.50  256.40       0.90  0.90    377.00   0.25  0.49
------------------------------------------------------------------
FW0093      230.40  230.85       0.45  0.06    455.50   0.22  0.15
            ------------------------------------------------------
            245.80  248.55       2.75  0.06    126.63   0.42  0.66
            ------------------------------------------------------
            272.40  274.00       1.60  0.06    109.50   0.58  2.28
------------------------------------------------------------------
FW0094      239.93  240.93       1.00  0.25    334.50   0.15  0.65
            ------------------------------------------------------
            249.33  253.68       4.35  0.05    107.85   0.22  0.32
------------------------------------------------------------------
FW0095      197.78  201.60       3.82  0.38    204.51   0.02  0.02
            ------------------------------------------------------
            240.40  246.40       6.00  0.12     99.67   0.09  0.16
            ------------------------------------------------------
            260.75  261.55       0.80  0.07    196.00   0.06  0.22
------------------------------------------------------------------
FW0096      241.70  247.10       5.40  0.07    768.67   0.49  0.82
------------------------------------------------------------------
FW0097      244.60  248.40       3.80  1.68     54.53   0.04  0.12
            ------------------------------------------------------
            270.15  270.60       0.45  0.34    663.50   0.37  0.42
            ------------------------------------------------------
            287.55  288.65       1.10  0.08    103.00   0.23  3.41
            ------------------------------------------------------
            290.80  291.65       0.85  0.11    231.00   0.42  4.04
            ------------------------------------------------------
            314.25  317.90       3.65  0.10     84.39   0.19  3.48
            ------------------------------------------------------
            322.80  323.90       1.10  0.20    117.50   0.26  5.18
------------------------------------------------------------------
FW0098      260.02  261.47       1.45  0.16     54.34   0.07  0.18
------------------------------------------------------------------
FW0099      243.75  250.55       6.80  0.12    149.09   0.26  1.77
            ------------------------------------------------------
            260.30  263.40       3.10  0.18    200.63   0.30  3.49
------------------------------------------------------------------
FW0102      122.43  125.76       3.33  0.37  1,602.89   0.42  1.16
            ------------------------------------------------------
            188.63  189.95       1.32  0.09     92.50   0.51  1.01
------------------------------------------------------------------
FW0103      218.65  219.65       1.00  less     26.30
                                       than
                                       0.01
------------------------------------------------------------------
FW0105      265.35  268.00       2.65  0.17  1,165.28   1.55  2.46
------------------------------------------------------------------
FW0106      242.45  244.45       2.00  0.09     57.00   0.30  0.42
            ------------------------------------------------------
            264.27  266.32       2.05  0.07    808.24   0.39  2.12
------------------------------------------------------------------
FW0108      235.97  237.13       1.16  0.12     50.00   0.05  0.05
------------------------------------------------------------------
FW0109      284.42  287.20       2.78  1.27     65.10   0.06  0.25
            ------------------------------------------------------
            296.36  298.90       2.54  0.03    282.27   0.17  1.69
------------------------------------------------------------------
True widths for the mineralized zones are typically from 85% to 100% of the stated intercepts.

Minco Silver is encouraged by the Phase IV drilling results and is working aggressively to advance the Fuwan Silver Project with further drilling.

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, 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 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/FSE:MI5) and Silver Standard Resources (TSX:SSO). For more information on Minco Silver, please visit the website at www.mincosilver.ca or contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 info@mincosilver.ca.


ON BEHALF OF THE BOARD

"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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