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Minco Capital Corporation
 September 15, 2004

 Not for distribution to U.S. newswires or for dissemination in the United States

Minco Mining & Metals Corporation (the "Company") is pleased to announce a brokered deal financing with Paradigm Capital Inc. and Osprey Capital Partners (the "Agents") to complete a private placement financing to raise up to Cdn$3,000,000, with a provision for an additional Cdn$2,000,000 for total gross proceeds up to Cdn$5,000,000, subject to all required regulatory approvals. The financing is scheduled to close on or about September 29, 2004.

The agreed offering price is C$1.40 per Unit. Each Unit will comprise one common share ("Common Share") of the Company plus one-half of one common share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to acquire one additional common share of the Company for a period of 24 months from the date of issuance at a price of Cdn$1.70.

The net proceeds from the Offering will be used for funding exploration and development activities on the Company's mineral properties in the People's Republic of China, the acquisition of further mineral properties and for general corporate purposes.

The private placement is subject to the approval of The Toronto Stock Exchange and a four month statutory holding period from the date of closing.

The Company will pay the Agent a commission of 8.0% of the gross proceeds of the Offering. In addition, Minco will grant the Agent broker warrants providing the Agent the option to acquire, at an exercise price equal to the Offering price, such number of common shares that is equal to 10% of the number of Units sold pursuant to the Offering for a period of 18 months following the Closing Date.

The securities referenced herein have not and will not be registered under the United States Securities Act of 1933 (the "1933 Act") and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the 1933 Act) unless the securities have been registered under the 1933 Act, or are otherwise exempt from such registration.
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