Minco Capital Corporation
 August 04, 2004

 Minco Mining & Metals Corporation ("MINCO") (TSX: "MMM") is pleased to report assay results from the Phase I drilling program at its Changkeng Gold project in Guangdong Province, China. All the holes were drilled vertically and true widths of the intersections have not yet been established.

Changkeng Gold Project Assay Results
           Intersection (m) Interval (m) Assay (g/tonne)  Comment
Hole       From         To                Gold   Silver  
JZK0401    106.14   147.53     41.39      6.13   20.50  No 1 Zone 

Including: 122.54   129.14      6.60     17.75   31.80  

JZK0601     80.64    94.58     13.94      5.49    9.16  No 1 Zone 

JZK0101     30.25    36.62      6.37     10.50   65.15  No 2 Zone 

The Changkeng gold deposit consists of two parallel gold zones. In a preliminary resource estimate as reported by the Chinese partners, No.1 zone, underneath the No. 2 zone, contains 3,716,994 tonnes @ 7.94 grams per tonne gold (29.5 tonnes gold), while No. 2 Zone hosts 129,332 tonnes @ 7.44 grams per tonne gold (0.96 tonnes gold). These resource estimates have been reconciled with CIM guidelines and are categorized as Inferred Resources. Please refer to May 17, 2004 News Release for further details.

Hole JZK0401 was drilled to 152.28 metres depth and was designed to test the major No.1 Gold Zone intersected in previous holes drilled by the Chinese joint venture partners.

Hole JZK0601 was drilled to 106.18 metres depth and has confirmed that No.1 Zone extends to the south east in the centre of the deposit. Further holes will be planned in this direction to follow the down dip extensions of the No.1 Gold Zone.

Hole JZK0101 tested the continuity of both No.1 and No.2 Zones in an area where the zones appeared to pinch out. The hole was drilled to 66.66 metres depth and intersected the No.2 Zone and three voids over 9.29 metres which coincide with the projected position of the No.1 Zone. The voids could relate to some artisanal mining that may have taken place before being halted by the Chinese government. The presence of No.2 Zone and the voids indicates that high-grade gold mineralization does not pinch out and extends further to the south and the west than previously outlined.

Holes JZK2001 and JZK2401 were designed to test the strike extension to the north east of the synclinal structure which controls mineralization. The holes intersected the mineralized fault structure and confirmed that the synclinal fault structure extends significantly along strike to the north east beyond the original deposit. This will lead to new drilling further south, closer to the hinge of the synclinal structure where the strongest gold mineralization occurs, and along the strike to the northeast.

Dr. Ken Cai, President and CEO comments: "Minco is very encouraged by the above drill results because not only have they confirmed the corresponding assay results reported by the Chinese partners but also they have confirmed that the gold zones extend down-dip to the south and south-east, and along strike to the north east and to the west in the previously untested open areas. These form significant drilling targets for the Phase 2 Drill Program."

All samples are being assayed by Central Laboratory of the Institute of Geophysical and Geochemical Exploration (IGGE), in Langfeng, near Beijing. IGGE is a very reputable lab. 20 check samples (over 10% of the total) have been selected from the mineralized samples, to be analysed for gold by fire assay at Acme Analytical Laboratories Ltd. in Vancouver.

The Phase 1 Program is currently progressing well on Changkeng and further assay results will be released once received.

This news release has been reviewed and approved for release by William Meyer, P.Eng. Chairman of the Board, and designated Qualified Person.

For further information, please contact Michael G. Legg, P.Eng., Executive Vice President at Minco 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.
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