|March 21, 2005|
MINCO ACQUIRES SIX GOLD PROPERTIES IN CHINA'S FAMOUS QINLING GOLD BELT
|Minco Mining & Metals Corporation is pleased to announce that its whole-owned subsidiary, Minco Mining (China) Corporation, has received six exploration licenses granted by Ministry of Land and Resources of China in Beijing. The six licensed gold exploration properties are located in the west end of China's prolific and well known Qinling Gold Belt, the second largest gold producing region in China, hosting numerous gold deposits with total resources estimated by the Chinese government agencies of over 16 million ounces gold.|
The six properties cover an area of 553 sq. km on the eastern strike extension of the Anba Gold Deposit (3 million oz gold) and form the east part of the 90km long carlin-style Yangshan Gold Belt. The licensed areas cover very strong gold anomalies (please see the map on Minco's website: www.mincomining.com). The Properties have identical geological setting, structure, alteration, and gold mineralization as those of the nearby Anba deposit where strata bound disseminated gold mineralization occurs in calcareous classic sediments, but have not been systematically explored and many known occurrences have not been followed up.
Dr. Ken Cai, President & CEO comments: "With the acquisition of these six gold properties, Minco has assembled a highly propospective and attractive property package on the Yangshan Gold Belt, consisting of a total of 9 exploration gold properties and the Anba Gold Project. We are excited with the exploration potential of the Yangshan Gold Belt and plan to conduct an aggressive exploration program in 2005 to follow-up the two significant gold zones discovered on the Gunniuwan Property (February 10, 2005 News Release), a strong gold anomaly on the Goujiagou property (December 1, 2004 News Release) as well as the six newly acquired gold properties. Minco's objective is to build the Yangshan Gold Belt as a major gold camp centered by the existing 3 million oz Anba Gold Project."
The Company also announces that the employment agreement with Mr. Michael Legg has been terminated and wishes to thank Mr. Legg for his efforts at Minco and wish him all the best in his future endeavors.
Minco Mining & Metals Corporation is listed on the Toronto Stock Exchange (MMM:TSX). The Company has a portfolio of high quality mineral projects in China and continues to evaluate a number of gold, base metal, rare earth and specialty metals projects in China.
For further information please contact William Meyer, Chairman of the Board or Dr. Ken Cai, President & CEO at
1-888-288-8288 or (604) 688-8002
The Toronto Stock Exchange does not accept responsibility for the accuracy of this news release. 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. Refer to the Company's Form 20-F and Form 6-K reports for a more detailed discussion of factors that may impact future results. The Company undertakes no obligation and has no intention of updating forward-looking statements