The Company continues to make good progress on the Environmental Impact Assessment (the "EIA") as well as the preliminary mine design on its Fuwan silver project. With approximately $72 million of working capital, combined with a RMB 300 million (approximately US$ 46.88 million) debt facility commitment by the Industrial and Commercial Bank of China as previously announced, Minco Silver is fully financed to put the Fuwan silver project into production, upon receiving the EIA.
The Company also announces that Dr. Dianmin Chen, Vice President Operations, resigned for personal reasons effective August 19, 2011. The Company thanks him for his contributions during his tenure, and wishes him well in his future endeavors.
About Minco Silver
Minco Silver Corporation is a TSX and OTCQX listed company focusing on the acquisition and development of silver dominant projects. The Company owns a 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt in Guangdong China. For more information on Minco Silver, please visit the Company's website at www.mincosilver.ca.
ON BEHALF OF THE BOARD
Dr. Ken Z. Cai, Chairman & CEO
Minco Silver is a silver development stage company based in Canada.
Minco Silver develops silver, gold, lead and zinc in China, and holds various exploration projects in China.
Its main asset in development is FUWAN SILVER in China.