Minco PLC Regulatory News (MIO)

6 May, 2010

MINCO PLC

·; XTIERRA PLANS NEW DRILLING AT BILBAO

Dublin, 6 May, 2010 - Minco plc (AIM - "MIO"), the Irish exploration and development company reports that its Toronto Venture Exchange listed subsidiary, Xtierra Inc. (TSXV-XAG), has announced that a new drilling program will commence at Bilbao during the second week of May. The program will comprise approximately 5,000 metres of core drilling in approximately 40 holes. The contract has been awarded to Intercore S. de R.L. de C.V.

The drilling will comprise four components: (1) step-out drilling to the south and southwest of the existing silver-zinc-lead-copper deposit to define additional sulphide resources and follow up previously intersected high silver vein mineralization; (2) in-fill drilling within the current resource to upgrade resource categorization and for geotechnical data; (3) condemnation drilling in the area of the proposed mine installations; and (4) initial exploration drilling at the Gaby Marina and Cata Negra prospects, both within 5km of Bilbao.

Step-Out Drilling

The planned step-out drilling will comprise 12 holes around the southern and southwestern margins of the existing Bilbao resource which remains open in that direction. In addition to the potential to discover additional sulphide resources, the drilling will follow up an intersection of high grade silver mineralization encountered in hole X-26 (previously reported 1.3kg/t Ag over 3m).

Infill Drilling

A further 12 large diameter holes will be drilled within the central part of the Bilbao deposit to better define the morphology and characteristics of the oxide resource within the area of the proposed open pit and to facilitate the reclassification of the oxide resources and reserves. Such holes will also form part of the geotechnical and rock mechanics studies.

Condemnation Drilling

Condemnation drilling will be carried out in areas proposed for the location of the process plant, tailings disposal, waste rock stockpiles and other site buildings to ensure there is no potential ore located beneath such infrastructure. Approximately 10 holes will be drilled.

Exploration Drilling

Recent exploration work in the Bilbao area has resulted in the discovery of several significant exploration targets that have not yet been tested by drilling. The Cata Negra and Gaby Marina prospects are located about 5 km east-southeast of the Bilbao deposit where geochemical sampling has outlined two distinct zinc-lead anomalies. Both are located on the eastern contact of the La Blanca granodiorite in a similar geological setting to that of the main Bilbao deposit (on the western contact) and are prospective for skarn-type precious and base metal replacement mineralization within the adjacent carbonate rocks. Extensive mineralized float has been located as well as significant zinc-lead soil geochemical anomalies outlined over 450-700 metres in length.

Several lead-zinc-silver geochemical anomalies along the limestone-granite contact have also been located at a third site, on the Bilbao II claims, located immediately east of the Bilbao deposit. An association with tin and tungsten anomalies suggests contact skarn mineralization may be present as at Bilbao. All three of these new targets will be subject to initial testing in the planned drill program.

Commenting on the resumption of drilling at Bilbao, Terence McKillen, CEO of Xtierra Inc. said, "This further phase of drilling is a logical next step for us in completing the feasibility study at Bilbao. It will give us the final inputs for optimizing economic studies and for final mine planning purposes. We are particularly keen to follow up on the high silver values encountered in the last phase of drilling and to carry out initial first drilling on three new targets located on the contact of the La Blanca granodiorite intrusive, in a similar geological setting to the Bilbao deposit."

Qualified Person

The above information has been reviewed and verified by 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 base metals exploration and development company engaged in zinc exploration on the Pallas Green property in Ireland in a joint venture with Xstrata Zinc and investments in zinc-silver projects in Mexico through its 39.7% shareholding in Xtierra Inc. listed on the TSX Venture Exchange (Toronto) under the symbol "XAG".