MSV Minco Silver Corp

Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) announced today that it has completed a detailed due diligence on Sterling Mining Company ("Sterling") and decided not to proceed with the acquisition of all the issued and outstanding shares of Sterling as announced on July 22, 2008.

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)(FRANKFURT: MI5) and Silver Standard Resources (TSX: SSO).

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 Email: ir@mincomining.ca Website: www.mincosilver.ca