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Minco Capital Corporation
 September 02, 2004

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


Minco Mining & Metals Corporation ("Minco" or the "Company") (TSX: "MMM") is pleased to announce that it has entered into an engagement with Paradigm Capital Inc. and Osprey Capital Partners (the "Agents") to complete a private placement financing to raise up to Cdn$3,000,000, subject to all required regulatory approvals.

Pursuant to the engagement with the Agents, Minco will issue Units consisting of one common share of the Company and one-half of one common share purchase warrant. Each full common share purchase warrant will entitle the holder thereof to acquire one additional common share of the Company for a period of 24 months from the date of issuance.

The Agents will have the option, exercisable at any time up to 24 hours prior to the closing of the offering, to increase the size of the offering up to an additional Cdn$2,000,000 for total gross proceeds of Cdn$5,000,000.

The financing is scheduled to close on or about September 29, 2004. Proceeds of the offering will be used to advance the exploration and development of the Company's gold and silver projects in China. The private placement will be subject to the approval of The Toronto Stock Exchange. The Units issued will have a four month statutory holding period from the date of closing.

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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