MSV Minco Silver Corp

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:MSV) is pleased
to announce that it has closed the non-brokered private placement financing
previously announced on September 24, 2009. The financing placed a total
8,175,179 Units at a price of $1.70 per Unit for a gross proceeds of $13,897,804
(the "Offering").


Each Unit consists of one (1) common share in the capital of the Company and
one-half of one common share purchase warrant (each whole common share purchase
warrant a "Warrant"). Each Warrant will entitle the holder to purchase one
common share in the capital of Minco Silver at an exercise price of $2.15 for a
period of twelve (12) months from the closing of the Offering.


The Company placed a total of 6,000,000 Units with IDG-Accel China Growth Fund
II L.P. ("IDG-Accel Fund") and IDG-Accel China Investors II L.P. ("IDG-Accel
Investors") for gross proceeds of $10,200,000. IDG-Accel Fund acquired,
indirectly through Blue Sky Strategic Holdings I, Ltd., ownership of 5,546,400
Units, and IDG-Accel Investors acquired, indirectly through Blue Sky Strategic
Holdings II, Ltd., ownership of 453,600 Units. In aggregate, IDG-Accel Fund and
IDG-Accel Investors acquired indirect ownership of 6,000,000 Units, and the
6,000,000 common shares, and the 3,000,000 common shares issuable upon exercise
of the warrants, represents up to approximately 20.64% of the outstanding common
shares of Minco Silver.


The Company will pay a 7% finders' fee in connection with a portion of the
Offering in the amount of $244,707 subject to the Toronto Stock Exchange
acceptance.


The proceeds of the Offering will be used for the development of the Company's
Fuwan Silver Project located in the Province of Guangdong in the Peoples
Republic of China; the continued financing of Sterling Mining Company and
reorganization and for general corporate purposes.


IDG-Accel Fund is a limited partnership organized under the laws of the Cayman
Islands. The general partner of IDG-Accel Fund is IDG-Accel China Growth Fund II
Associates L.P., a limited partnership organized under the laws of the Cayman
Islands. The general partner of IDG-Accel China Growth Fund II Associates L.P.
is IDG-Accel China Growth Fund GP II Associates Ltd., a limited liability
company incorporated under the laws of the Cayman Islands. IDG-Accel Investors
is a limited partnership organized under the laws of the Cayman Islands. The
general partner of IDG-Accel Investors is IDG-Accel China Growth Fund GP II
Associates Ltd., which is also the general partner of IDG-Accel China Growth
Fund II Associates L.P., which is the general partner of the IDG-Accel Fund.
Blue Sky Strategic Holdings I, Ltd. and Blue Sky Strategic Holdings II, Ltd.,
each a limited liability company organized under the laws of the British Virgin
Islands, are wholly-owned by IDG-Accel Fund and IDG-Accel Investors,
respectively.


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.

Grafico Azioni Minco Silver (TSX:MSV)
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