Minco PLC Regulatory News (MIO)

2 FEBRUARY 2010

Minco PLC

MINCO ANNOUNCES 2010 EXPLORATION PROGRAMME AT PALLAS GREEN

·; 70,000 METRES OF DRILLING

·; 150 DRILL HOLES PLANNED

·; 16 DRILL RIGS MOBILISED TO SITE

Dublin, 2 FEBRUARY , 2010 - Minco Plc (AIM-"MIO"), the Irish exploration and development company, announces that it has agreed with its Joint Venture partner, Xstrata Zinc, to implement a $10,000,000 (€7,000,000 ) exploration programme for 2010 on the Pallas Green Zinc-Lead Project in Co. Limerick, Ireland.

This planned 2010 programme will include about 70,000 metres of diamond drilling in about 150 drill holes allocated within and adjacent to the Tobermalug zinc-lead deposit and on further exploration drilling in the general Caherconlish area within a 3.5 km radius of Tobermalug. This area includes both the Caherconlish South and Srahane West zinc-lead prospects.

The agreed 2010 programme at the Pallas Green Project will focus on three main objectives;

(1) Increase the tonnage and grade of the Tobermalug Deposit

(2) Explore for lateral extensions of the Tobermalug Deposit

(3) Explore for additional ore deposits within the greater Caherconlish area

Work to date by Minco and Xstrata has identified zinc and lead resources at three locations in the Caherconlish area of Co. Limerick (see table below), including Tobermalug, Caherconlish South and Srahane West.

In August 2009 Xstrata Zinc published an initial JORC compliant resource estimate for the Tobermalug zinc lead deposit at 11,300,000 tonnes grading 10.2% zinc and 1.9% lead in the inferred resource category. The deposit is estimated to contain 1.15 million tonnes of contained zinc metal and 215,300 tonnes of lead metal (see Minco Press Release August 4, 2009).

Currently the inferred mineral resources at the Pallas Green Project are:

All three deposits remain open with potential to increase both tonnage and grade. The Caherconlish cluster of massive sulphide deposits centred on Tobermalug occurs within a well defined alteration trend traceable over 25 kilometres. Approximately sixty percent of this alteration trend remains unexplored and the unexplored sections are believed to hold considerable potential for new discoveries of Tobermalug size or larger.

Commenting on the proposed 2010 budget and work programme, Terence McKillen, Minco's Chief Executive stated, "The proposed work programme for 2010 will see the largest exploration drilling programme ever carried out in Ireland in terms of metrage (70,000m) and reflects the Joint Venture partners' view on the high potential of the Tobermalug and adjacent zinc-lead deposits at Pallas Green."

"Minco believes the current resource potential outlined at Tobermalug is at or close to the threshold required for an economic zinc/lead mine. The objective for 2010 is to increase the resource in and around Tobermalug to at least 15 million tonnes with a combined grade of at least 12% zinc+lead," Mr. McKillen added.

Excellent progress in 2009

Exploration drilling continued throughout 2009, following on the large program completed during 2008. A total of 11,000 metres was completed in 23 holes. Most of the drilling was concentrated to the northwest of the Tobermalug deposit, where a new zone, the Northwest Extension Zone, was discovered and where the highest zinc and lead assay values received to date were reported.

As part of the preliminary scoping study undertaken in 2009 a conceptual mine plan was developed which contemplated a conventional underground mine, accessed via a three kilometre decline ramp at ‐15%, mining about 6000 tonnes per day and producing lead and zinc concentrates in a conventional milling operation. A metallurgical testing program was completed which indicated that the zinc concentrate to be produced from the mining of the Tobermalug deposit would be a premium product with zinc content of about 60%. In addition, an environmental baseline study was carried out with the objective to establish current environmental conditions in the area before any significant mining activities take place.

Sixteen drill rigs on site

In January 2010, sixteen (16) drill rigs were mobilised to the Pallas Green property. This is easily the largest exploration drill programme ever undertaken in the history of Irish mineral exploration.

It is planned that at least 30 drill holes, totalling about 15,000 metres will be completed during the first quarter of the year.

The 2010 exploration programme will be subject to quarterly review by the Joint Venture partners and may be modified or adjusted based on actual results.

About Minco

Minco PLC is an AIM quoted precious and base metals exploration and development company engaged in zinc exploration on the Pallas Green property in Ireland in a 23.6%/76.4% joint venture with Xstrata Zinc and investments in zinc-silver projects in Mexico through its shareholding in Xtierra Inc. listed on the TSX Venture Exchange (Toronto) under the symbol "XAG".

About Xstrata

Xstrata plc is a major global diversified mining group, listed on the London and Swiss stock exchanges. Xstrata Zinc is one of the world´s largest producers of zinc concentrates and refined zinc. Xstrata's zinc and lead operations are located in Spain, Germany, Australia, Canada and the UK. They comprise: the San Juan de Nieva zinc smelter and the Arnao zinc semis plant in Asturias, Spain; the Hinojedo roasting plant in Cantabria, Spain; the Nordenham zinc smelter near Bremerhaven in north Germany; the Mount Isa George Fisher-Hilton zinc-lead mines in Queensland, Australia; McArthur River zinc-lead mine located in the Northern Territory, Australia; the Brunswick zinc-lead mine in Canada and the Northfleet lead refinery located in UK.