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Re: News - Tuesday, May 08, 2007
Minco Silver Intitiates Phase IV Exploration at Fuwan
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Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV)
is pleased to announce that the Company has initiated a Phase IV
exploration program on its Fuwan Silver deposit located in Guangdong
Province, China. The program is designed to further increase the
confidence level of the resource through infill drilling and cover a
broad spectrum of detailed engineering work to investigate the
geotechnical, hydrological, and metallurgical characteristics of the
project.

Minco Silver has begun an 8,000 metre infill drilling program over the
Southwest deposit area between section lines 43 and 15. The holes are
located at 80 metre centres, along new section lines 40 metres apart,
and decreases the distance between adjacent holes to yield a 56 metre
by 56 metre grid. The deposit remains open to the South and the
Company has planned for approximately 2,500 metres of "step out"
drilling to test the Southern extension of the current area of
interest. The drilling results from this program will be incorporated
into the next resource calculation as the project advances.

Approximately 3,000 to 5,000 metres of drilling will be undertaken to
evaluate the hydrological aspects of the project. The area of focus is
within the Southwest and Northeast mineralized blocks as well as the
Eastern boundary of the Fuwan property. Additionally, 500 kilograms of
representative core from mineralized zones within the Southwest Block
will be sent to an approved facility for metallurgical testing.

Minco Silver is currently operating 8 drill rigs on the property and
anticipates completion of the Phase IV exploration program by the end
of July, 2007. It is expected that the hydrological observations,
compilation, and analysis of all test-work results will be completed
soon after. The Company has also begun the process of engaging an
experienced and reputable engineering firm to conduct a Preliminary
Economic Analysis of the project.

Minco Silver is working aggressively to advance the Fuwan Silver
Project and details of the Company's regional exploration program to
test additional showings within the 10 kilometre Fuwan Silver Belt will
be released within the next few weeks.

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) and Silver Standard Resources (TSX:SSO). For more
information on Minco and our properties, 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
"Dr. Ken Z. Cai"
President & 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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Copyright (c) 2007 MINCO SILVER CORPORATION (MNV) All rights reserved.
For more information visit our website at http://www.mincosilver.ca/
or send mailto:info@mincosilver.ca
Message sent on Tue May 8, 2007 at 10:25:44 AM Pacific Time
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