Minco Silver Receives the Mining Area Permit for Fuwan

VANCOUVER, BRITISH COLUMBIA, Apr 29 (MARKET WIRE) --
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.

ON BEHALF OF THE BOARD

Dr. Ken Z. Cai, Chairman & CEO

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.

The Toronto Stock
Exchange does not accept responsibility for the accuracy of this news
release.

Contacts:
Minco Silver Corporation
Ute Koessler
1-888-288-8288 or (604) 688-8002
ir@mincosilver.ca
www.mincosilver.ca

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