GoldMinerPulse.com -- Minco Silver Corporation: (NI) 43-101 Metal Valuation Report

Minco Silver Corporation (MSV)

Company Web Site: www.mincosilver.ca
(NI) 43-101 reports from projects located in: China (CN)
This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-09-11. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-03-11.
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GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-11
Project/Deposit CC MVpSh PP% MI% I% Gold Silver Lead Zinc
    Fuwan CN $93.20 0 58% 42% 184.66 K oz     157.01 M oz     62.46 K t     173.23 K t

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-11
Metric / Metal Gold Silver Lead Zinc
    Metal Totals 184.66 K oz     157.01 M oz     62.46 K t     173.23 K t
    Metal Prices in US$ (from 2010-03-11) $1,108.90 per oz     $17.15 per oz     $1.01820 per lb     $1.05510 per lb
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $5.55     $72.94     $3.80     $10.91
    Percentage of Total Metal Value 5.95%     78.26%     4.07%     11.71%
    PP% | MI% | I% 0 | 48% | 52%     0 | 60% | 40%     0 | 51% | 49%     0 | 52% | 48%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-11
    Metal Value per Share (MVpSh)    US$93.20
    Average Ore Value per Tonne    US$
    Metal Value Leverage (MVL)    48.21
    Market Capitalization as % of Metal Value    2.1%
    Recent Stock Price    C$1.98   (TSX/TSXV close on 2010-03-11.)
Conversion rate used: 1 Cnd$ = 0.976275 US$ )
    Fully Diluted Share Count    36.92 M    ( Fully diluted share count is from the Minco Silver Corporation, Share Structure web page viewed September 2009. )
    PP% | MI% | I%    0 | 58% | 42%
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade     g/t
    Market Capitalization
    per oz of Silver In Ground    $0.45   US$  |   0.47   C$
    Silver Eq Oz Estimate    200.62 M oz   ( 157.01 M oz are in ground)
    Market Capitalization
    per oz of Silver Equilavent    $0.36   US$  |   0.36   C$

See terms for more about GoldMinerPulse metrics.
Additional Notes:
Sunshine Mine Lease    -    September 1, 2009, Minco Silver Announces Court Decision on the Amount to Cure the Sunshine Mine Lease.
This final ruling from the Court puts an end to the controversy surrounding the Sunshine Mine Lease between Sterling Mining Company and Sunshine Precious Metals Inc.. As a result, Sterling regained control and possession of the Sunshine Mine on August 19, 2009. Minco Silver is working closely with Sterling in the care and maintenance of the Sunshine Mine and dewatering of the mine is expected to commence shortly.

Note: The 23M oz Proven + Probable silver; 31M oz of Measured + Indicated silver; and 231M oz of Inferred silver in the Sunshine mine are not currently part of this report but well be added once details on Minco Silver's take over are complete.
GoldMinerPulse Coverage Status:
GoldMinerPulse coverage of Minco Silver Corporation is complete pending a final internal review.

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold	Silver	Lead	Zinc
Fuwan	CN	$93.20	0	58%	42%	184.66 K oz	157.01 M oz	62.46 K t	173.23 K t

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-11
Metric / Metal	Gold	Silver	Lead	Zinc
Metal Totals	184.66 K oz	157.01 M oz	62.46 K t	173.23 K t
Metal Prices in US$ (from 2010-03-11)	$1,108.90 per oz	$17.15 per oz	$1.01820 per lb	$1.05510 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$5.55	$72.94	$3.80	$10.91
Percentage of Total Metal Value	5.95%	78.26%	4.07%	11.71%
PP% \| MI% \| I%	0 \| 48% \| 52%	0 \| 60% \| 40%	0 \| 51% \| 49%	0 \| 52% \| 48%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-11
Metal Value per Share (MVpSh)	US$93.20
Average Ore Value per Tonne	US$
Metal Value Leverage (MVL)	48.21
Market Capitalization as % of Metal Value	2.1%
Recent Stock Price	C$1.98 (TSX/TSXV close on 2010-03-11.) Conversion rate used: 1 Cnd$ = 0.976275 US$ )
Fully Diluted Share Count	36.92 M ( Fully diluted share count is from the Minco Silver Corporation, Share Structure web page viewed September 2009. )
PP% \| MI% \| I%	0 \| 58% \| 42%
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade	g/t
Market Capitalization per oz of Silver In Ground	$0.45 US$ \| 0.47 C$
Silver Eq Oz Estimate	200.62 M oz ( 157.01 M oz are in ground)
Market Capitalization per oz of Silver Equilavent	$0.36 US$ \| 0.36 C$

See terms for more about GoldMinerPulse metrics.

Fuwan - ^top^

(NI) 43-101 Report:

Title: TECHNICAL REPORT AND UPDATED RESOURCE ESTIMATE ON THE FUWAN PROPERTY GUANGDONG PROVINCE, CHINA
Date: 2008-01-25 (106 pages)

Updates: Corporation Presentation, Minco Silver Corporation, April 2009

Project Location: Guangdong, China / Mining Region: Fuwan Silver Belt

Map View: View the Fuwan property on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $2.29    76.23 K oz     0.170 g/t     13.95 M t
   Silver $39.16    84.31 M oz     188.000 g/t     13.95 M t
   Lead $1.70    27.90 K t       2,000.000 g/t     13.95 M t
   Zinc $4.92    78.11 K t       5,600.000 g/t     13.95 M t
Estimate notes: Fuwan Permit: Minco Silver, Resource Estimate, web page viewed September 2009.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.29	76.23 K oz	0.170 g/t	13.95 M t
Silver	$39.16	84.31 M oz	188.000 g/t	13.95 M t
Lead	$1.70	27.90 K t	2,000.000 g/t	13.95 M t
Zinc	$4.92	78.11 K t	5,600.000 g/t	13.95 M t
Estimate notes: Fuwan Permit: Minco Silver, Resource Estimate, web page viewed September 2009.

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $0.39    13.03 K oz     0.200 g/t     3.97 M t
   Silver $4.30    9.25 M oz     142.000 g/t     3.97 M t
   Lead $0.25    4.05 K t       2,000.000 g/t     3.97 M t
   Zinc $0.78    12.36 K t       6,100.000 g/t     3.97 M t
Estimate notes: Changkeng Permit: Minco Silver, Resource Estimate, web page viewed September 2009.
Resource quantities adjusted for ownership percentage of 51.0%.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.39	13.03 K oz	0.200 g/t	3.97 M t
Silver	$4.30	9.25 M oz	142.000 g/t	3.97 M t
Lead	$0.25	4.05 K t	2,000.000 g/t	3.97 M t
Zinc	$0.78	12.36 K t	6,100.000 g/t	3.97 M t
Estimate notes: Changkeng Permit: Minco Silver, Resource Estimate, web page viewed September 2009. Resource quantities adjusted for ownership percentage of 51.0%.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $2.57    85.61 K oz     0.260 g/t     10.24 M t
   Silver $26.15    56.30 M oz     171.000 g/t     10.24 M t
   Lead $1.62    26.63 K t       2,600.000 g/t     10.24 M t
   Zinc $4.65    73.74 K t       7,200.000 g/t     10.24 M t
Estimate notes: Fuwan Permit: Minco Silver, Resource Estimate, web page viewed September 2009.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.57	85.61 K oz	0.260 g/t	10.24 M t
Silver	$26.15	56.30 M oz	171.000 g/t	10.24 M t
Lead	$1.62	26.63 K t	2,600.000 g/t	10.24 M t
Zinc	$4.65	73.74 K t	7,200.000 g/t	10.24 M t
Estimate notes: Fuwan Permit: Minco Silver, Resource Estimate, web page viewed September 2009.

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
   Gold $0.29    9.78 K oz     0.290 g/t     2.06 M t
   Silver $3.32    7.15 M oz     212.000 g/t     2.06 M t
   Lead $0.24    3.88 K t       3,700.000 g/t     2.06 M t
   Zinc $0.57    9.02 K t       8,600.000 g/t     2.06 M t
Estimate notes: Changkeng Permit: Minco Silver, Resource Estimate, web page viewed September 2009.
Resource quantities adjusted for ownership percentage of 51.0%.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.29	9.78 K oz	0.290 g/t	2.06 M t
Silver	$3.32	7.15 M oz	212.000 g/t	2.06 M t
Lead	$0.24	3.88 K t	3,700.000 g/t	2.06 M t
Zinc	$0.57	9.02 K t	8,600.000 g/t	2.06 M t
Estimate notes: Changkeng Permit: Minco Silver, Resource Estimate, web page viewed September 2009. Resource quantities adjusted for ownership percentage of 51.0%.


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