Minco Silver closes $15 million public offering

On November 17, 2006, Minco Silver Corporation, a TSX-listed company focusing on the acquisition and development of silver dominant projects in China, announced that it had closed its previously announced public offering consisting of 5,000,000 units at a price of $3.00 per unit for aggregate proceeds of $15 million. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable at $3.45 per common share for a period of 18 months from the closing of the Offering.

The Offering was completed by way of a short form prospectus through a syndicate of underwriters led by CIBC World Markets Inc. and including Canaccord Capital Corporation and Sprott Securities Inc. The Underwriters also have an option to purchase up to an additional 750,000 common shares at a price of $2.80 per share and 375,000 warrants at a price of $0.40 per warrant to cover over-allotments and for market stabilization purposes for a period of 15 days from the closing of the Offering.

The net proceeds of the Offering will be used by Minco Silver to fund the exploration and development program on the Fuwan Silver Property and for general working capital purposes.

The underwriting syndicate was advised by Rob Mason of Fasken Martineau.