Minco PLC Regulatory News (MIO)

5 August

Minco Plc

Resource Update

XSTRATA REPORT UPDATE IN RESOURCE ESTIMATE OF 24.1 MILLION TONNES

AT PALLAS GREEN

Dublin, 5 August, 2010 - Minco Plc (AIM-"MIO"), the Irish exploration and development company, is pleased to announce that, in its 2010 half year results published on August 3, 2010, Xstrata plc has reported a new Inferred Resource estimate total of 24.1 million tonnes at Pallas Green.

The Pallas Green property is a 23.6%/76.4% joint venture between Xstrata Zinc and Minco.

The new Inferred Resource estimate of 24.1 million tones, calculated by Xstrata, has an average grade of 7.85% zinc and 1.35% lead, using a 4% zinc and lead cut off.

Xstrata also reported that "the exploration programme at Pallas Green has continued to provide positive results with the discovery of a fourth high grade zone" (Knockroe).

In a presentation on Project details released with the 2010 Half Yearly Results, Xstrata Zinc has indicated a start-up date of 2017 for the Pallas Green project, with an indicative capital cost of US$300 million and with an indicated annual production of 160,000 tonnes of zinc, (which is equivalent to about 6,000 tonnes of daily mine production).

Xstrata had previously reported in August 2009 an Inferred resource for the Tobermalug zone only comprising 11,300,000 tonnes grading 10.2% zinc and 1.9% lead (at a 6% zinc cut off).

For further information please see http://www.xstrata.com.

Comment

Commenting on the new resource estimate, Terence McKillen, Minco's CEO said, "We are very pleased with the increased resource reported by Xstrata which has confirmed and exceeded Minco own estimates and demonstrates the very extensive mineralisation discovered to date at Pallas Green."

Several distinct lenses of massive zinc-lead sulphide mineralisation have been discovered in the Caherconlish area including a major zone of mineralisation at Tobermalug. A new zone of sulphide mineralisation has recently been discovered at Knockroe some 750 metres south of the Caherconlish South zone and 1.5 to 2 kilometres west of Tobermalug, where five recent drill holes intersected high grade zinc mineralisation.

Sixteen drill rigs continue to delineate the full extent of the Caherconlish area deposits as part of an ongoing US$10 million 2010 exploration programme which comprises about 70,000 metres of diamond drilling in approximately 150 planned drill holes.

Qualified Person

Xstrata Zinc is the project operator for the Pallas Green Joint Venture Project and is responsible for both fieldwork and resource evaluation including sampling, submittal of samples for assay, assay verification, metallurgical evaluation and QA/QC.

Mr. Terence N McKillen, B.A. (MOD), M.A., M.Sc., P.Geo, Chief Executive Officer. Mr. McKillen is the Qualified Person for the purposes of the AIM Guidance Note on Mining, Oil and Gas Companies dated March 2006. Mr. McKillen is a graduate in Natural Sciences (Geology) from Trinity College Dublin and holds a Master of Science degree in Mineral Exploration and Mining Geology from the University of Leicester. He has 40 years of exploration experience in Ireland and internationally.

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".