Minco Silver Provides Updates on the Permitting of Its Fuwan Silver Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/24/10 -- Minco Silver Corporation (the 'Company' or 'Minco Silver') (TSX: MSV) is pleased to provide the following updates on the permitting for its Fuwan Silver Project.
The Geological Hazard Assessment for the project was approved by the Department of Land and Resources of Guangdong Province.
The regulatory Environmental Impact Assessment ('EIA') has been completed and submitted to the Department of Environmental Protection of Guangdong Province. A technical panel consisting of eight experts appointed by the Department was established. After detailed review and examination of the EIA, the technical panel concluded that the Fuwan Silver Project is environmentally valid, and approved the EIA submission from technical point of view. The Company received comments on the EIA from the technical panel and has revised the EIA accordingly. The revised EIA has been submitted to the Department for the administrative approval. Thus, the EIA has now been advanced to the final stage.
The Mine Development Plan ('MDP') has been prepared by NERIN on behalf of the Company and has been approved by a technical panel of experts appointed by the Ministry of Land and Resources ('MOLAR') of China. The Plan is currently being registered with MOLAR.
'We are very pleased with the progress on the permitting of the Fuwan Silver Project,' commented Dr. Ken Cai, Chairman and CEO of Minco Silver. 'We will immediately submit our mining license application once the administrative EIA approval is obtained.'
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. For more information on Minco Silver, please visit the website at www.mincosilver.ca.
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