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Minco Silver Corporation

 April 03, 2008
Minco Silver Continues to Generate Excellent Step Out Drilling Results

 
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to report the assay results of 19 holes, for a total of 5,273.57 metres (m), from exploration drilling on its Fuwan Silver Project located in Guangdong Province, China. The program was predominantly designed to expand the known resource base through step out drilling. One hole was completed as part of condemnation drilling for the proposed mine and mill site infrastructure area. The step out drilling was successful in extending the mineralization in the following areas:
  1. The down dip direction of the north-east mineralized zone has been extended down dip by +80 metres sporadically along a strike length of approximately 400 metres by 4 positive drill holes between sections 20E to 0E. The results ranged from 87.50 to 1,264.00 grams per tonne (g/t) silver (Ag) over widths from 0.75 to 26.69 metres. Three of the four drill holes have intersections of over 10 metres in width. All of the holes intersected multiple zones of mineralization.

  2. The south-west mineralized zone was extended along strike in a south-westerly direction and up and down dip between sections 31W to 51W for approximately 400 metres by 8 drill holes. The results ranged in grades from 87.00 to 2,142.00 g/t Ag over widths of 0.50 to 8.90 metres. Approximately half of the holes intersected multiple zones of mineralization.

  3. Along strike for 160 metres to the south-west between sections 67W and 75W and up and down dip for approximately 300 metres based on 3 drill holes. The results ranged from 87.50 to 275.50 g/t Ag over widths from 0.85 to 1.15 metres. Most of the holes have more than one mineralized zone.
The drilling program occurred between section lines 20E and 75W and the assay results are highlighted by the following intersections:
  • FW0100-1: 91.86 g/t silver over 3.70 m
  • FW0135: 87.50 g/t silver over 26.69 m
  • FW0152: 1,264.00 g/t silver over 0.75 m and 108.45 g/t silver over 11.12 m
  • FW0154: 724.56 g/t silver over 2.40 m
  • FW0156: 2,142.00 g/t silver over 1.00 m and 175.20 g/t silver over 8.90 m
  • FW0159: 251.13 g/t silver over 1.67 m
  • FW0160: 105.84 g/t silver over 10.45 m
  • FW0165: 427.00 g/t silver over 1.00 m
--------------------------------------------------------------------------
                                                     Average Grade
                                          --------------------------------
                From       To  Intercept      Au         Ag      Pb     Zn
Hole No.          (m)      (m)        (m)   (g/t)      (g/t)     (%)    (%)
--------------------------------------------------------------------------
FW0100-1 (i)  176.22   177.22       1.00    0.63      55.00    0.02   0.01
             -------------------------------------------------------------
              188.70   203.30      14.60    0.07      26.25    0.03   0.03
             -------------------------------------------------------------
              270.40   271.40       1.00    0.03      63.00    0.04   0.07
             -------------------------------------------------------------
              280.40   284.10       3.70    0.18      91.86    0.05   0.35
--------------------------------------------------------------------------
FW0135 (i)     85.18   111.87      26.69    0.09      87.50    0.13   0.47
--------------------------------------------------------------------------
FW0146        284.05   284.55       0.50    0.11     117.50    0.76   3.10
             -------------------------------------------------------------
              292.85   293.85       1.00    0.05     227.50    0.40   0.54
             -------------------------------------------------------------
              300.75   301.75       1.00    0.01     118.00    0.04   0.01
--------------------------------------------------------------------------
FW0149        173.05   174.05       1.00    0.15     232.50    0.77   2.05
             -------------------------------------------------------------
              232.03   232.45       0.42    0.02     318.00    0.93   1.54
--------------------------------------------------------------------------
FW0150                                       NSR
--------------------------------------------------------------------------
FW0151        223.30   224.10       0.80    0.08     101.50    0.24   0.24
--------------------------------------------------------------------------
FW0152        189.70   190.45       0.75    0.32   1,264.00    2.63   5.64
             -------------------------------------------------------------
              197.33   208.45      11.12    0.15     108.45    0.40   0.66
--------------------------------------------------------------------------
FW0153        186.80   187.80       1.00    0.11     150.00    0.05   0.33
             -------------------------------------------------------------
              190.80   191.80       1.00    0.08     127.50    0.12   0.33
             -------------------------------------------------------------
              195.20   196.20       1.00    0.06     105.00    0.06   0.09
             -------------------------------------------------------------
              255.70   256.70       1.00    0.01      89.00    0.06   0.18
             -------------------------------------------------------------
              263.81   264.96       1.15    0.02     101.00    0.15   0.32
--------------------------------------------------------------------------
FW0154        182.15   184.55       2.40    0.37     724.56    2.20   4.36
--------------------------------------------------------------------------
FW0155        296.40   297.43       1.03    3.29     275.50    3.00   4.72
--------------------------------------------------------------------------
FW0156        169.65   170.65       1.00    1.30   2,142.00    0.58   1.33
             -------------------------------------------------------------
              174.65   183.55       8.90    0.09     175.20    0.03   0.18
--------------------------------------------------------------------------
FW0157 (ii)                                  NSR
--------------------------------------------------------------------------
FW0159        183.95   185.62       1.67    0.03     251.13    0.09   0.12
--------------------------------------------------------------------------
FW0160         85.85    96.30      10.45    0.20     105.84    0.08   0.24
             -------------------------------------------------------------
               98.30    99.15       0.85    0.21      94.50    0.16   0.62
             -------------------------------------------------------------
              101.85   102.85       1.00    0.12      57.00    0.08   0.63
             -------------------------------------------------------------
              127.02   127.52       0.50    0.21     379.50    1.49   0.15
             -------------------------------------------------------------
              156.03   156.30       0.27    0.28     458.00    0.44   1.02
--------------------------------------------------------------------------
FW0161        160.70   161.60       0.90    0.08     133.50    0.11   0.49
--------------------------------------------------------------------------
FW0162                                       NSR
--------------------------------------------------------------------------
FW0163         35.35    36.00       0.65    0.05     330.50    0.15   0.05
             -------------------------------------------------------------
               47.60    48.40       0.80    0.16     366.50    0.09   5.18
             -------------------------------------------------------------
              106.00   106.60       0.60    0.11      79.00    0.06   0.19
--------------------------------------------------------------------------
FW0164         92.35    93.20       0.85    0.06     168.00    0.14   0.40
             -------------------------------------------------------------
              114.05   114.95       0.90    0.03      87.00    0.24   1.23
--------------------------------------------------------------------------
FW0165        195.03   196.03       1.00    0.15     427.00    0.37   0.97
--------------------------------------------------------------------------
(i)  The indicated holes are part of the hydrology study completed by SRK
     Consulting and released on December 4, 2007.
(ii) Indicates holes drilled for condemnation drilling for proposed
     Mine-Mill site facilities.
True widths for the mineralized zones are typically from 75% to 95% of the stated intercepts. Please visit the Company's website at www.mincosilver.ca to view a map of the drill hole locations.

Minco Silver is encouraged by these drilling results and is continuing to work aggressively to advance the Fuwan Silver Project with further drilling. A total of nine drills are currently on the property completing further step out drilling to expand the overall resource. The deposit remains open along strike to the southwest and down dip to the south.

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, has reviewed this news release and 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 (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 contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 ir@mincomining.ca.

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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