XTIERRA RAISES $3.1 MILLION THROUGH EXERCISE OF WARRANTS
XTIERRA WILL START NEW DRILL PROGRAM AT BILBAO HIGH GRADE SILVER
TARGET
Dublin, 3 March, 2011 - Minco Plc (London AIM | MIO), reports that Xtierra Inc. yesterday announced
that all outstanding warrants with an expiry date of March 1, 2011 had been exercised to raise
proceeds of $3,108,000 (Canadian).
With the exercise of the 10,360,235 warrants, the issued and outstanding share capital of Xtierra is now
100,619,448 shares. There are 16,980,475 warrants and 4,830,000 options outstanding and “in the
money.” The proceeds of the warrant conversion brings Xtierra’s current working capital to
approximately $8.8 Million (Canadian).
Drilling at Bilbao
Xtierra will commence a new 2,500 metre drill program in early March 2011 to follow-up on a high
grade silver zone previously encountered along the western margin of the Bilbao deposit which is
believed to be structurally controlled. Previously reported (24 Sep. 2010) intersections of interest
included a 20.00 m wide zone averaging 90g/t Ag intersected in drill hole X85; a 1.0 m interval
averaging 860 g/t Ag in hole X84B; a 1.0 m interval averaging 528 g/t Ag and a 6.0 m interval averaging
847.5 g/t Ag (including 2.0 m at 2,400 g/t Ag) in hole X26.
A preliminary evaluation of the drill data suggests the presence of two parallel zones with elevated
silver (plus some gold) values. The silver-enriched zone extends over a strike length of at least 300
metres.
Qualified Person
Mr. Terence N McKillen, B.A. (MOD), M.A., M.Sc., P.Geo, Chief Executive Officer. 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 Natural Sciences (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 40 years of exploration experience in Ireland and internationally.
About Minco
Minco PLC is an AIM quoted precious and base metals exploration and development company
engaged in zinc-lead exploration on the Pallas Green property in Ireland in a joint venture with Xstrata
Zinc and investments in zinc-silver projects in Mexico through an equity holding in Xtierra Inc. listed on
the TSX Venture Exchange (Toronto) under the symbol “XAG”.
