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Press Release

BILBAO PROJECT, ZACATECAS, MEXICO

• Drilling intersects extensions to recently discovered massive sulphide zone
• Minco believes there are at least four stacked mineralised horizons at Bilbao
• Additional sulphide and oxide zinc-silver-copper-gold intersections
• Approximately 4,000 metres of an 8,000 metres programme have been completed and 3 drill rigs are continuing to evaluate the project
• Pre-feasibility study for development of zinc-copper oxide leaching being update

Commenting on the new intersections Mr Terence McKillen, Minco’s Director of Exploration and Business Development said: “The new sulphide intersections in drillholes X10 and X11 confirm extensions to the sulphide mineralisation encountered previously in drillhole X13. There are indications that several stacked mineralised horizons occur within the sequence at Bilbao which opens up the potential for finding further mineralised bodies both in depth and along strike. New sulphide intersections observed in the latest drill holes, X14 and X15, are encouraging in this regard, and add support to this optimism.”

LONDON: October 3, 2006: AIM quoted precious and base metals explorer and developer Minco plc (”MIO”) is pleased to announce additional drill results from its Bilbao silver, zinc, lead, gold, copper project in Zacatecas, Mexico. 

Two holes drilled recently have intersected extensions to the massive sulphide zone reported previously from drillhole X13. Following on from the 35.00m intersection of massive sulphide in drillhole X13, which returned average grades of 5.57% Zn, 4.92%Pb, 0.33%Cu and 80g/t Ag, drillhole X11, collared some 50 metres away, has intersected a 29.0m zone of sulphide mineralisation including 22.0 metres averaging 6.85%Zn, 1.39%Pb, 0.22%Cu and 100.0g/tAg. A zone of enriched gold values, up to 0.96g/tAu, occurs above the main sulphide intersection.

Drillhole X10, which was collared 100 metres to the west of hole X11, has intersected four zones of silver-zinc-copper mineralisation totalling some 86.0m including oxide and sulphide bodies. The main sulphide zone occurs between 116.00 and 141.00m (25.0m) and averaged 2.75%Pb, 3.49%Zn, 0.26%Cu and 141g/t Ag

In addition to the mineralisation intersected in holes X10 and X11, two of the most recent holes, X14 and X15, collared respectively 72m southeast of and 100m south of drillhole X11, have also intersected four zones of mineralisation ranging from 2.0 to 16.0m in thickness. Assay results are awaited for these intersections.

The Bilbao deposit has been re-interpreted as a volcanogenic massive sulphide body which has been contact metamorphosed by a granitic intrusion rather than a simple skarn-type as previously believed. The main sulphide body lies below the previously known oxide mineralisation and had no surface expression. Minco believes that there are at least four, stacked mineralised horizons present at Bilbao.

The main sulphide zone, with currently known dimensions of 250 x 60 x 25m, remains open to the south and the current drilling programme continues to investigate the morphology of the mineralised bodies in depth and along strike.
Separately from the newly discovered sulphides, the near-surface oxide resource at Bilbao is being evaluated by Behre Dolbear de Mexico who will also update the earlier pre-feasibility study for the development of a near-term zinc-copper leaching operation.

Qualified Person

The information presented in this press release has been reviewed and verified by Mr. Terence N. McKillen, B.A. (mod), M.A., M.Sc., P.Geo, Director of Exploration and Business Development.  Mr. McKillen is the Qualified Person for the purposes of the AIM Guidance Note on Mining, Oil and Gas Companies dated March 2006.   Mr. McKillen is a graduate in Geology from Trinity College Dublin and holds a Master of Science degree in Mineral Exploration and Mining Geology from the University of Leicester.  He has over 38 years of exploration experience. 

About Minco

Minco PLC is an AIM-quoted precious and base metals exploration and development company with silver projects in Mexico and zinc exploration in Ireland. 

The drilling programme at the Bilbao Project near Zacatecas, Mexico was initiated to upgrade the silver, zinc, copper and lead oxide resources which exist to a depth of approximately 80 metres. With the addition of further drill rigs, drilling was also initiated to test for deeper, un-oxidized, primary sulphide mineralisation. Minco has now completed approximately 4,000 metres of a planned 8,000 metre diamond drill programme. The majority of assay results are still awaited. Five holes have now intersected a major zone of sulphide mineralization at depths between 125 and 225 metres with thicknesses of 25 to 35 metres.  The five holes are approximately 100 metres apart which suggests a significant deposit could be present.  Minco now has three objectives for its on-going drill programme at Bilbao: (1) update the open pit study and confirm oxide resources; (2) determine the size of the sulphide zones; and (3) evaluate high grade silver veins within the adjoining license areas.

©Shoshone Silver Mining 2006