Minco PLC Regulatory News (MIO)

MINCO REPORTS INTERIM FINANCIAL RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2013

London, 02 December, 2013 Minco PLC (AIM - "MIO") (the "Company" or "Minco") the AIM quoted exploration and development company is pleased to report its interim financial results for the three and nine month periods ended 30 September 2013.

FINANCIAL RESULTS

For the three month period ended September 30, 2013, the Company reported a consolidated net loss of $1,117,000. The loss included $454,000 professional fees paid by the Group in connection with the acquisition of Buchans and $417,000 foreign exchange loss. For the nine month period ended September 30, 2013, the Company reported a consolidated net loss of $1,873,000. In addition to the professional fees incurred on the acquisition transaction, the loss for the nine months included $196,000 foreign exchange loss and $276,000 expense arising on the decrease in fair value of financial assets.

At September 30, 2013, Minco held $11,719,000 in cash and cash equivalents. At September 30, 2013, the Company had a working capital surplus of $11,165,000, compared to a working capital surplus of $14,636,000 at December 31, 2012, and is adequately financed to meet its planned programs and business objectives.

During the nine month period ended September 30, 2013 the Company invested $2,394,000 in exploration and development expenditures, of which the $1,057,000 was invested on the Woodstock manganese project, $840,000 on the Pennines zinc/lead exploration project and $391,000 on the Lundberg base metal project.

ACQUISITION OF BUCHANS MINERALS CORPORATION

Effective July 16, 2013, Minco acquired beneficial ownership of all the issued shares of Buchans Minerals Corporation ("Buchans") it did not previously own pursuant to a Plan of Arrangement (the "Arrangement") under the Canada Business Corporations Act (the "CBCA").

As a result of the Arrangement, trading in the common shares of Buchans on the TSX Venture Exchange (the "Exchange") was halted on July 15, 2013 and such shares were subsequently delisted from the Exchange at the close of trading on July 18, 2013.

LUNDBERG DEPOSIT, NEWFOUNDLAND, CANADA

Development work on Minco's base metal properties in central Newfoundland, Canada, is currently focused on advancing the Lundberg deposit toward pre-feasibility and includes ongoing metallurgical test work as well as ongoing reviews of environmental assessment and permitting requirements.

In 2012, Minco completed a 58 hole drilling programme, which totaled 8,189 metres of drilling, and in March 2013, Minco announced a new resource estimate that successfully upgraded the categorization of the resource, as well as increased the overall tonnage of the Lundberg deposit to an Indicated resource of 23.44 million tonnes grading 1.41% Zn, 0.60%Pb, 0.35%Cu, 5.31g/t Ag and 0.07g/t Au.

Technical Report entitled "Mineral Resource Estimate Technical Report on the Lundberg Deposit, Buchans area, Newfoundland, Canada" filed April 26, 2013 and prepared by Michael Cullen, P. Geo. And Andrew Hilchey, P.Geo., of Mercator Geological Services Limited).

Minco invested $391,000 on Lundberg base metal project in the nine months ended September 30, 2013.

Bobbys Pond and Daniels Pond

In, July 30, 2013 Minco acquired a 75% interest in the Bobbys Pond property.

The Bobbys Pond Property is located within the Tulks mineral belt of central Newfoundland within 17 kilometres of Minco's Lundberg project and 9 kilometers from Minco's Daniel's Pond property. The Bobbys Pond property hosts a zinc-copper-lead-silver deposit with a National Instrument 43-101 compliant Indicated resource estimate of 1,095,000 tonnes grading 4.61% Zn, 0.86% Cu, 0.44% Pb,16.6 g/t Ag and 0.2g/t Au, and an Inferred resource of 1,177,000 tonnes grading 3.75%Zn, 0.95% Cu, 0.27%Pb, 10.95g/t Ag and 0.06g/t Au. [Technical Report dated July 31, 2008 Scott Wilson Roscoe Postle Associates.] The Company has agreed to spend CDN$ 150,000 in exploration and development on the Bobbys Pond Property over the next year.

Minco's Daniels Pond deposit, located about 9 Km from Bobbys Pond, hosts a NI-43-101-compliant Indicated Resource of 1.16 million tonnes grading 4.44% zinc, 2.12% lead, 0.31% copper, 87.79 g/t silver and 0.60 g/t gold, as well as an additional Inferred resource totaling 0.45 million tonnes grading 3.88% Zn, 1.74% Pb, 0.27% Cu, 81.63 g/t Ag and 0.52 g/t Au.

WOODSTOCK DEPOSIT, NEWFOUNDLAND, CANADA

Minco is evaluating the Plymouth manganese deposit at Woodstock, New Brunswick for the production of electrolytic manganese metal ("EMM") that is primarily used in the production of stainless steel, specialty steels and high-purity alloys.

On May 6, 2013, the Company announced an NI 43-101 compliant resource estimate for the Plymouth Manganese Deposit located within Minco's 100% owned Woodstock Manganese Property. This estimate of Inferred resources was completed by Mercator Geological Services of Dartmouth, Nova Scotia ("Mercator").

Mercator estimated Inferred resources at the Plymouth deposit totaling 43.7 million tonnes grading 9.98% Mn at a 5% Mn cut-off, or 22.5 million tonnes grading 11.86% Mn at a 10% Mn cut-off or 9.1 million tonnes grading 13.19% Mn at a 12% Mn cut-off. See Technical Report Michael Cullen, P.Geo., and Andrew Hilchey, P.Geo., of Mercator Geological Services Limited "Mineral Resource Estimate Technical Report for the Plymouth Mn-Fe deposit, Woodstock property, New Brunswick, Canada."

Completion of this new resource estimate was a significant positive development as it allows the Company to undertake a PEA to assess the project's potential for development as an open-pit mine and hydrometallurgical processing facility.

Bench scale testing for development of a hydrometallurgical process to produce EMM from the Plymouth deposit has been completed. The final phase of metallurgical tests for completion of the PEA are underway with the operation of small scale continuous (or semi-continuous) pilot test of an electrowinning cell for production of EMM to confirm product grade and current efficiency relative to hydrometallurgical process operating conditions, solution purity and cell operating parameters, and is anticipated to be completed before the end of 2013.

The unique feature of the hydrometallurgical process flowsheet that has been designed for the Woodstock project to date is that it provides flexibility for the production of a number of manganese products. The primary focus up to now has been on the production of EMM, however additional test work is also underway to determine the viability of producing manganese sulphate from the purified manganese sulphate solution derived from the leaching and precipitation circuits. The manganese sulphate tests are also anticipated to be completed by the end of 2013.

Minco invested $1,057,000 on the Woodstock manganese project in the nine months ended September 30, 2013.

MINERAL EXPLORATION AT THE NORTH PENNINES, ENGLAND

In November 2012, Minco commenced a new exploration initiative in the North Pennines Orefield located in the northern English counties of Cumbria, Northumberland and Durham. The Northern Pennine Orefield covers an area of approximately 350 square miles and had a significant past production of lead, zinc, barite and fluorite in the eighteenth and nineteenth centuries.

Minco's ongoing exploration drilling is currently centred on a five square kilometre area of extensive historic mining in the vicinity of the village of Nenthead, adjacent to the county boundaries of Cumbria, Northumberland and Durham, an area never previously explored by either underground or surface diamond drilling. Minco's drilling to date has identified disseminated zinc mineralisation at multiple elevations in ten of the twelve holes drilled to date, with seven of the holes delineating zinc within the prolific Great Limestone horizon. Holes CA006, CA008, CA009, CA010 and CA011 have outlined disseminated zinc-lead mineralization approximately 60m in width striking parallel to a north east striking fault.

Summary of Assay Results (See Minco Press release December 2, 2013)

Minco is very encouraged by the results of the first ten holes ever to be drilled in this large area which has a rich mining history. The results to date confirm the potential of the Northern Pennine Orefield for the discovery of new mineralization both extending laterally around and at depth below historic workings and with the potential to host an economic zinc-lead deposit. Minco invested $840,000 on the Pennines zinc/lead exploration project in the nine months ended September 30, 2013.

Some 5000 meters of drilling is planned to be carried out during the winter 2013 and into the first half of 2014. The objective will be to confirm that the disseminated zinc "halo" is widespread on the major vein systems in the area, to gain a better understanding of the lateral extent or spread of this mineralization and to identify zones that warrant more detailed drilling to establish estimates of potential resources.

QUALIFIED PERSON

Benjamin Batson, P. Geo. is Minco's Non-independent Qualified Person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects and has approved the technical disclosures in this press release.

ABOUT MINCO

Minco Plc, registered in the Republic of Ireland and listed on the AIM of the London Stock Exchange ("MIO"), is premier base metals exploration and development company with advanced projects in established mining jurisdictions in eastern Canada. The Company is also engaged in zinc-lead exploration in the United Kingdom and Ireland. Minco holds investments in zinc‐silver projects in Mexico through a holding of 30 million shares (approximately 29%) in Xtierra Inc. listed on the TSX Venture Exchange (TSX.V-"XAG").

Minco also holds a 2% NSR royalty on the Curraghinalt gold property in Northern Ireland, which is being explored by Dalradian Resources Inc. (TSX-"DNA").

There are 478,142,184 shares of Minco issued and outstanding.

For further information of Minco refer to Minco's website at www.minco.ie.

John Kearney: Chairman and Chief Executive +1 416 362 6686

Danesh Varma: CFO & Company Secretary +44 (0) 8452 606 034

Peter McParland: Director - Ireland +353 (0) 46 907 3709

Warren MacLeod: Director and President Buchans Minerals +1 902 472 3520

John Frain/Fergal Meegan: (NOMAD) Davy +353 (0)1 6796363

Chris Rourke/ Guy Wheatley: Beaufort Securities,  

London (Corporate Advisor| Broker) +44 (0) 20 7382 8387

Copies of this announcement will be posted on the Company's website at www.minco.ie and will be available for inspection at the Company's registered office at 27 Hatch Street Lower, Dublin 2, Ireland.

The condensed interim consolidated financial results for the nine month period ended 30 September 2013 can be viewed at the following link:

http://www.rns-pdf.londonstockexchange.com/rns/3699U_-2013-12-1.pdf