|April 29, 2009|
Minco Silver Receives the Mining Area Permit for Fuwan
|Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to announce that it has received the Mining Area Permit for the Fuwan Silver project located in Guangdong province, China.|
The application for the Mining Area Permit was approved by the Ministry of Land and Resources ("MOLAR") in Beijing and will be held for up to 3 years while preparations for the Mining License Application are made. The Mining Area Permit covers approximately 0.79 square kilometres, defines the mining limits for the Fuwan deposit, and restricts the use of this land to mining activities only.
Minco Silver continues to make significant progress on additional reports required for the Mining License Application. The Company recently concluded the environmental baseline studies enabling the completion of the Chinese Regulatory Environmental Impact Assessment. This regulatory EIA was generated by Guangdong Nuclear Design Institute ("GNDI") and will be submitted to the Guangdong Provincial Environmental Protection Administration in the near term. The report identifies the ecological and physical environmental impacts of the proposed mining operation.
China Nerin Engineering Co., Ltd. ("NERIN") is progressing well on the Mineral Resources Development and Utilization Plan. This report outlines the mining and processing methods and is based on the already approved Exploration Report and Chinese Preliminary Feasibility Study. Once completed, the report will be submitted to MOLAR in Beijing for review and approval.
Minco Silver has advanced the Bankable Feasibility Study ("BFS") to the point where all planned surface infrastructure sites have been finalized including milling facilities, access roads, waste rock storage, and tailings impoundment. The Company has used this data to prepare and submit the Land Usage Application which, when approved, will re-zone the area from agricultural and forestry lands to industrial usage and allow the Company to secure the required surface rights to the proposed mine site.
The Company is also well advanced on the Geological Hazard Assessment which identifies potential geographic and physical hazards that may pose safety issues to operations including local and regional seismic activity and any significant geo-technical aspects of the proposed mining operation.
Minco Silver's Chairman and CEO, Dr. Ken Cai, commented: "The Mining Area Permit approval is a very important milestone for the Company and I would like to thank the Ministry on behalf of Minco Silver and its Stakeholders. This permit secures the land comprising the Fuwan Silver Deposit for mining purposes only and is an integral component in obtaining a Mining License. Excellent progress continues to be made regarding ongoing studies as we push to complete our Mining License Application in the shortest time possible."
About Minco Silver
Minco Silver Corporation (TSX: MSV) is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt. 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 email@example.com.
"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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