Minco Silver Corp (MSV)

[Montanore]

Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to announce that the Company has made a firm offer of USD$12,500,000 to acquire a 100% interest in Sterling Mining Company ("Sterling").

On December 2, 2009 Sterling filed with the United States Bankruptcy Court in the District of Idaho (the "Court") a disclosure statement providing information concerning Sterling's proposed plan of reorganization indicating that Minco Silver's offer is the best offer.

Pursuant to the provisions of Sterling's plan of reorganization Minco Silver will credit bid the full amount of its' secured claim estimated at USD$9,400,000, with the balance (approximately USD$3,100,000) paid in cash.

Minco Silver continues to fund Sterling's expenses associated with the care and maintenance of the Sunshine Mine and all of its' administrative costs pursuant to the terms and conditions of the Court approved Supplemental Post Petition Secured Financing Agreement.