Re: News - Friday, September 05, 2008
Minco Silver Commenced Drilling on Fuwan Silver Belt
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV)
is pleased to announce that it has initiated a 10,000 metre drill
program on top showings along the Fuwan Silver Belt.
Geosan, LLC, of Ulaanbatar, Mongolia, recently completed a detailed
ground magnetic survey covering approximately 155 line kilometres as
well as 21 line kilometres of dipole-dipole induced polarization
survey. Combined with previous geochemical surveys consisting of
50,000 individual soil samples, a number of highly prospective targets
were generated. Minco Silver currently has 2 diamond drill rigs
testing these targets along the Fuwan Silver Belt.
Minco Silver's Chairman and CEO, Dr. Ken Cai, commented: "Further to
the drilling on the Belt, the Fuwan Silver project remains our primary
focus and we are very pleased with our progress to date. Our
International Bankable Feasibility Study and Environmental Impact
Assessment remain on target for completion by year end and the
permitting process is advancing well."
In addition, Minco Silver is working with Sterling Mining Company
("Sterling") on the repayment of the US$5,000,000 loan (the "Loan")
provided to Sterling pursuant to the Credit Facility Agreement dated
July 30, 2008. The Loan is fully secured by substantially all assets
of Sterling pursuant to an All Assets Security Agreement and a
Mortgage, Assignment of Leases and Rents Security Agreement.
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 100% interest in the World Class Fuwan Silver Deposit,
situated along the northeast margin of the highly prospective Fuwan
Silver Belt. 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 firstname.lastname@example.org.
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
Copyright (c) 2008 MINCO SILVER CORPORATION (MNV) All rights reserved.
For more information visit our website at http://www.mincosilver.ca/
or send mailto:email@example.com