|November 26, 2004|
MINCO SILVER CLOSES CDN$3MILLION SPECIAL WARRANT FINANCING
|Minco Mining & Metals Corporation ("Minco" or the "Company") is pleased to announce that it's subsidiary, Minco Silver Corporation ("MSC") has closed a non-brokered private placement of 6 million special warrants at $0.50 each for gross proceeds of Cdn$3million. Each special warrant will entitle the holder, upon the exercise or deemed exercise thereof without payment of any additional consideration, to receive one (1) common shares of MSC. Four million special warrants were placed with Minco's strategic partner, Silver Standard Resources Inc. Upon the completion of a prospectus qualifying the special warrants, MSC will have 20 million common shares issued and outstanding. |
The net proceeds from the Offering will be used for funding exploration and development activities on the Company's Fuwan Silver property, acquisition of further silver dominant mineral properties in China and for general corporate purposes.
The Company is also pleased to announce that it has opened a Toronto office. Michael Legg, Executive Vice-President, has moved from Vancouver to Toronto to enhance Minco's exposure in the investment community in eastern North America. The office is situated at 55 University Avenue, Suite 501, Toronto, ON M5H 2H7. Tel: (416) 368-6408, Fax: (416) 368-5433.
This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board.