MINCO plc

162 Clontarf Road
Dublin 3, Ireland
Tel: + 353 1 833 2833
Fax: + 353 1 833 3505
Email: minco@iol.ie
 www.minco.ie

24^th December 2003

Funds raised for drilling in Central Asia

The directors of Minco Plc have invited Mr. Jitendra Patel to join the board. Mr. Patel has agreed to subscribe for 4,210,526 shares at 9.5p raising a total of £400,000. In addition, Mr. Patel has been granted options to subscribe for a further 4,210,526 shares at 9.5p per share for a period of 6 months, expiring on 23^rd June 2004. The funds raised will be used to purchase a drill rig and to pursue an active drilling programme in Central Asia. 

In a separate agreement with Mr. Patel, the Board have agreed a staged payment in shares dependent on Minco obtaining certain identified gold concessions in Central Asia. The first payment of 1 million shares has been issued for work done in negotiating a concession. Competitive reasons preclude identifying the areas at this time.

Mr. Patel has significant business interests in Uzbekistan which have been built up over the past 10 years. In 1998, he became a shareholder in Oxus Gold Plc and has built his position into one of the largest shareholders via Sassan Holdings Ltd.  This company will provide Minco with office space in Tashkent as well as logistical support. Following the placing, Mr. Patel will hold 5,210,526 shares which is 5.49% of the equity.

The deputy chairman Roger Turner commented: “this is a vital step toward implementing our gold strategy in Central Asia. I am delighted to welcome Jitendra Patel to the board of Minco. He has the contacts and the ability to deliver quality gold projects to Minco. Together with the recent announcement of progress on our Laguna silver project in Mexico, Minco is well positioned in precious metals”.

Contacts:                   

Roger Turner                Tel       (+44)  1273 495 500
                                    E-mail   : rwturner@orcagoldcorp.com

John Teeling                  Tel.      (+ 353)  1 833 2833      
                                    E-mail   : minco@iol.ie

Richard Thornton          Tel (+44) 20 7286  3694 and 07957 687 386
                                    E-mail : rfthornton@orcagoldcorp.com

MINCO is a precious metals development and exploration company traded on the AIM market in London. Ticker symbol (MIO), www.minco.ie

Minco plc Secures La Laguna Silver Project Licence
17^th December 2003

Minco Plc is pleased to announce that it has received confirmation from the Zacatecas State Director of Conagua (Mexican National Water Authority) that the licence has been issued, and will be registered in early 2004, to extract the silver-rich tailings contained within La Laguna Zacatecana in Mexico. This licence will be for a period of 20 years and entitles Minco to extract 6 million cubic meters of tailings from the lake.

 The Laguna project is located east of the municipality of Guadalupe, Zacatecas State, and contains gold, silver and mercury tailings produced from silver amalgam plants, operated under Spanish Colonial rule, from the 16^th to the 19^th Century.

Minco previously announced, in October 2003, that it had entered into a separate agreement with certain surface landowners to sample terrestrial tailings around the La Laguna Zacatecana.

The La Laguna project was the subject of an independent pre-feasibility study in the mid 1990’s when the entire resource was estimated as containing 55 M oz silver and 130,000 oz gold. Minco plans to commence a complete evaluation of the La Laguna project, including an update of the pre-feasibility study. 

Roger Turner, deputy chairman commented: “This is a vital step on the road toward Minco becoming a precious metals miner. Silver is booming and Mexico is the world’s principal silver producer.”

Contacts : 

Matthew Dorman            Tel  (+34) 687 494550 or (+34) 986 626249
                                      E- mail :  mldorman@orcagoldcorp.com

Richard Thornton            Tel (+44) 20 7286  3694 and 07957 687 386
                                      E-mail : rfthornton@orcagoldcorp.com

John Teeling                  Tel.            (+ 353)  1 833 2833       
                                     E-mail            : minco@iol.ie

Roger Turner                 Tel            (+44)  1273 495 500
                                     E-mail            : rwturner@orcagoldcorp.com

Highlights of Chairman’s Statement
AGM, Dublin
Wednesday Dec 10th 2003

• Recent months have seen a remarkable turnaround in the fortunes of Minco – evidenced by a 200% increase in the share price.
  
  
• From the depths of depression, zinc has staged a recovery. I am delighted to report that Minco together with our partner Noranda, will drill the Pallas Green zinc project in Limerick during 2004.  
  
  
• Gold is having a bull run and there may be more to come. I am pleased to report that work in the Goldmines river area of Avoca, Co. Wicklow, has identified a likely drill target. In 200 years of prospecting, no-one has ever discovered the source of the historic alluvial gold.  
  
  
• The new Directors, using their contacts in Central Asia, have started to accumulate and review interesting gold projects in the area.  
  
  
• Silver, for long the poor relation of gold, has risen strongly in price. There is a massive gap between demand and new silver supply.  The Orca acquisition gave Minco 25 silver licences and also the participation in end game negotiations with the Mexican Government to process the La Laguna tailings which are an estimated 55 M oz silver,130,000 oz gold resource. The Minco team is at an advanced stage with negotiations and hopes to be in a position to award the prefeasibility study early in 2004. Initial sampling on some of the licences has returned high grades of silver.
   
  
• The high level of exploration activity expected in 2004 will be funded by the recent £1 million fund raising.  
  
  
• Exploration success requires good ground and good people. We have the ingredients.  

Minco AGM

Wednesday 10^th December 03
12 o’clock
St. Stephens Suite, Shelbourne Hotel, St. Stephens Green, Dublin 2.

Placing and update on Mexican Silver Exploration and La Laguna Tailings Project

1^st December 03

Minco Plc is pleased to announce that it has completed a private placing to raise 1,003,900 through the issue of 12,548,750 new Ordinary Euro0.0125 Shares at a price of 8p per share (the "Placing). The Placing was conducted through Rowan Dartington and has introduced new institutional and private investors to the Company.

The proceeds of the Placing will enable the Company to accelerate its exploration programmes on a number of very promising precious metals prospects in both Ireland and Mexico, continue its joint venture drilling programme on a major base metal project in Ireland and progress negotiations on other precious metal projects in Mexico and, Central Asia. Application will be made for the new Ordinary Shares to be admitted to trading on AIM and it is expected that admission will take place and dealings commence
on 5 December 2003.

Minco Plc is also pleased to be able to report that preliminary results of a geochemical soil sampling programme, part of its continuing exploration programme in Mexico, has resulted in the identification of a number of areas with high silver values, at its El Milagros and El Morro properties, in Zacatecas, Mexico. Matthew Dorman, Chief Executive Officer said "the results to-date of Minco's ongoing surface exploration programmes, as well as the historical high grade mining prior to 1914, on the El Milagros and El Morro properties reinforces our belief that there is potential for significant high grade silver mineralization on these properties. Additional sampling is justified and potentially also a drilling programme. The financing will allow us to accelerate this work as well as follow through on further potential acquisitions in the area.

In addition, negotiations with Mexican Authorities are progressing well on the Laguna tailings project and we hope to be in a position to award the pre-feasibility study on this project in early 2004"

News Release - Wednesday, November 05, 2003

Tornigan Gold Accelerates Drilling at Curraghinalt, Northern Ireland =======================================================================

Tournigan Gold Corporation (TVC:TSX.V) ('Tournigan' or the 'Company') is moving towards gold production at Curraghinalt, Northern Ireland, with a rapid timetable leading to completion of a feasibility study and design of an underground gold mine and on-site ore processing plant by the middle of 2004.  To this end, a 3,000 metre infill diamond drilling programme has started, the results of which will increase the confidence levels of the current resource estimates.

Gold mineralization is contained in seven steeply dipping, high grade, quartz-sulphide veins that range in widths up to 3 metres.  The current inferred resource calculation of 468,097 tonnes at an average grade of 16.96 grams of gold per tonne, containing 255,000 ounces of gold is concentrated beneath an area measuring 1,000 by 250 metres (for details see Tournigan's Press Release of July 11, 2003).  This current drill programme, combined with the 15,000 metres of drilling that had previously been carried out, will yield a final average drill spacing of approximately 25 to 30 metres down to a depth of 150 metres.  This increased drilling density should allow for the majority of the current resources, which are in the inferred category, to be upgraded to the measured category.

Drilling of the HQ-size core is underway with two drill rigs.  A third rig will arrive on site within the next 10 days.  The drilling programme is expected to be completed within three months and will be under the supervision of Dr. Kent Ausburn, Tournigan's Vice-President, Exploration and designated Qualified Person.  Samples continue to be assayed at OMAC Laboratories in Loughrea, Republic of Ireland. Tournigan is planning to release results in groups of related drill holes at regular intervals.

Additionally, several other studies have been initiated that will be incorporated into the Curraghinalt feasibility study.  These include a comprehensive geostatistical study as well as mining and processing optimizations.  An environmental assessment, which is a necessary part of the permitting process, will be initiated next year.

Once in production, Curraghinalt will be the most significant gold mine in Northern Ireland.

TOURNIGAN GOLD CORPORATION

"Damien Reynolds"
Damien Reynolds, President and Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development.  As a result, actual results may vary materially from those described in the forward-looking statements.

For further information please contact in Canada:

Damien Reynolds, President
Tel:  +(604) 683-8320

Garry Stock, Executive VP
Tel: +(604) 683-8320

In UK, Conduit PR

Leesa Peters
Mob:  + 44 (0)7812 159 885

Laurence Read
Mob:  + 44 (0)7979 955 923

29th October 2003

NEWS RELEASE

Highlights of the Chairman’s statement accompanying the Annual Report and Accounts.

·         ·         The acquisition of Orca Gold and the Irish interests of Ennex have transformed Minco into a focused gold and silver explorer.

• ·         The management of the company has been transformed by three executive directors joining the board. They will run the company.
  
• ·         Exploration has commenced on the Irish gold licences in Wicklow and Kildare.
  
• ·         Minco holds 22 concessions on historical silver producers in Zacatecas, Mexico.  A drilling and prospecting programme is being mobilised.
  
• ·         Negotiations are underway to finalise permitting of 55Million Ounce silver tailings project in Laguna Zacatecana.
  
• ·         A drilling programme will be undertaken in 2004 on the world-class zinc properties in Limerick, Ireland. This is joint venture with Noranda.
  
• ·         Gold opportunities in Central Asia, where the new management team has contacts and experience, are being evaluated.

Chairman’s Statement

This is an exciting time for Minco shareholders.  The recent acquisition of Orca Gold and the expansion of our gold and zinc interests in Ireland, gives Minco significant exploration opportunities in precious metals. This, at a time, when many believe that the price cycle for gold, silver and zinc has turned upward. We now have high potential silver licenses in Mexico, excellent gold properties in Ireland and we are examining additional gold opportunities in Central Asia and Mexico.

During the year we purchased the Irish gold and zinc interests of Ennex International. This gave us a 2% royalty in the Curraghinalt gold property in Northern Ireland as well as increasing to 100% our interest in four zinc licences in the Irish midlands.

While our focus in on precious metals, let me not forget our superb portfolio of zinc exploration properties. We have 33 top class zinc exploration licences in Ireland, including the highly prospective Pallas Green licence block, which we are exploring in joint venture with Noranda.  During the year under review, we drilled a number of holes, all containing zinc mineralization. The historically low zinc price devastated exploration budgets and it was believed that Noranda was exiting exploration in Ireland. I am delighted to report that, following negotiations between Minco and Noranda, we will drill in 2004.

The increased level of activity requires more management. I am delighted to report that three highly experienced managers have become executive directors. Roger Turner, the Deputy Chairman, is a well known and widely experienced gold explorer.  He was a founder director of Nelson Gold and of the current stock exchange favourite, Oxus Gold. He brings unrivalled expertise in Central Asia. Matthew Dorman, who is Minco Chief Operating Officer, is an experienced metallurgist who has worked in precious metals in Central America and Uzbekistan. Roger and Matthew founded Orca Gold.  Richard Thornton, who is now Finance Director of Minco, is a Chartered Accountant with many years experience in U.K. industry.

Forthcoming Activity

The coming year will see us working on five fronts:

1. 1.       We are already prospecting on our Irish gold licences in Avoca, Co. Wicklow and Tipperkevin, Co. Kildare. This programme involves geophysical, geochemical and drilling elements.
   

2. 2.       The Laguna silver tailings project in Zacatecas, Mexico contains up to 24 million ounces of recoverable silver. We will finalise negotiations with the Mexican authorities and with local landowners. An existing bankable feasibility study will be updated.
   

3. 3.       Zacatecas province in Mexico has been the centre of silver production for hundreds of years. Mexico is the world’s biggest silver producer. We hold 21 silver concessions in Zacatecas. We are currently prioritizing an exploration programme for 2004.  Most of the concessions are former producers.  Any explorer will tell you, the best place to find a mine is where there was a mine.
   

4. 4.       A team has been recruited in Central Asia to examine potential gold opportunities.
   

5. 5.       As outlined earlier, Minco and Noranda will continue drilling Pallas Green in Ireland in 2004. This 25 km. long strike zone has all of the indicators necessary for a large zinc deposit.  We need to drill more holes.

Prospects for Precious Metals

Many of us believe that the long bear market in gold and silver is over.

The gold price of $370 an oz looks set to rise further. And so it should. After a 20 year decline, the price curve is showing strong signs of a sustained rise.  The deficit in new gold production compared to demand has been well known for years but is finally affecting price. Closure of hedging positions and more certainty in relation to central bank sales is giving confidence to investors.

If gold is looking good then silver is looking spectacular.  Silver at $5.00 an oz or less is too cheap.  For 4000 years there was a 40 to 1 gold to silver price relationship. That implies a current silver price of $8.50 an oz of silver which makes economic sense.  The demonetization of silver and the position of silver production as a byproduct of base metal output has shattered the price relationship.  However, silver fundamentals look stronger now than they have in decades.  Demand is rising while supply is falling.  There are few pure silver mines in the world.  Mexico is the world’s largest silver producer.  The Minco\Orca concessions are in the center of the Zacatecas silver province and all have a history of silver production.

Funding

We have adequate funds for the exploration activities outlined above.  Success will require further investment but funding success is never a problem.

Future

The new Minco is poised for action.  We have the people, the projects and the money. The world economy is improving, demand for metals is rising, commodity and precious metals prices are rising. After a long period in the shade, our time in the sun may have arrived.

MINCO is an exploration company traded on the AIM market in London. Ticker symbol (MIO), www.minco.ie

Date: 14^th October 2003

Exploration commenced on October 13^th on the Minco gold licences in Avoca and Kildare.  The highly prospective Tipperkevin discovery in Kildare will be drilled, while exploration in Avoca will concentrate in and around the Goldmines river – the source of the 1803 Wicklow gold rush.

Options

Option have been exercised over 4,415,000 shares, in total raising € 94678.50

Directors: 

                                                John Teeling                                                        400,000 @ 1.27 c

                                                                                                                                900,000 @ 2.54 c

                                                James Finn                                                          250,000 @ 1.27 c

                                                                                                                                350,000 @ 2.54 c

                                                John Kearney                                                        500,000 @ 2.54 c

                                                Terence McKillen                                                 450,000 @ 2.54 c 

                                                Other management                                            725,000 @ 1.27 c

                                                                                                                                840,000 @ 2.54 c

Revised Directors Interests:

                                                                                                       No of Shares                         % of share capital

                                                John Teeling                                    2,416,645                                      3.13

                                                James Finn                                   1,341,645                                      1.74

                                                John Kearney                               1,500,000                                      1.94

                                                Terence McKillen                         3,145,000                                      4.07

Date: 13^th October 2003

Minco has completed the acquisition of Orca Gold by issuing 35 million Minco shares, representing 46 % of the expanded Minco equity.  Orca holds silver licenses together with options on the Laguna multimillion tonne silver tailings deposit, all in the Zacatecas region of Mexico, and is actively negotiating gold projects in Central Asia. 

Roger Turner, former President of Nelson Gold, founder of Oxus Gold and a founding director of Orca Gold, becomes Deputy Chairman of Minco Plc.  Matthew Dorman and Richard Thornton also join the board of Minco Plc. 

John Teeling, Chairman of Minco Plc, said - “This acquisition is a powerful move forward for Minco, as it is now an active precious metals explorer focused on Mexico, Ireland and Central Asia.  The prospects for precious metals are the best in years and these locations host important projects and prospects.   Roger Turner also brings unsurpassed Central Asian knowledge, experience and contacts”.

Roger Turner added “The new enlarged group will bring benefits to both Minco and Orca shareholders. Minco brings an impressive portfolio of properties in Ireland as well as access to financial markets through its AIM listing. Orca provides Mexican precious metal assets and cash.  The dedicated management team is looking for rapid development of existing properties and is seeking gold and silver acquisition opportunities that offer the potential for early low cost production. We are confident that the fresh initiatives will result in an exciting and profitable future for all shareholders.’

Application has been made for the 35 million new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place and dealings will commence on 16 October 2003. Further details concerning Roger Turner, Matthew Dorman and Richard Thornton will be announced shortly.

For further information contact:

Martin Rosser – Operations Director                      Brendan O’Conner 
VSA Resources Ltd                                                               Campbell O’Conner & Co. 
43 London Wall                                               Stockbrokers, 8 Cope Street, 
UK                                                                     Dublin 2, Ireland 

Tel: 44 (0) 20 7628 3989                                      Tel: +353 (1) 677 1773
Fax: 44 (0) 20 7920 0563                                     E-mail: brendan@camocon.ie
E-Mail: mail@vsaresources.com                          Roger Turner   Tel: +44 (0)1273 495500
Internet: www.vsaresources.com                         E-mail: rwturner@orcagoldcorp.com     

                                                                         John Teeling    Tel: +353 1 833 2833                                                                          E-mail: minco@iol.ie

                                                                         Matthew Dorman Tel: +44 7742 825 707                                                                          E-mail: mldorman@orcagoldcorp.com

MINCO is an exploration company traded on the AIM market in London. Ticker symbol (MIO), www.minco.ie

29^th July 2003
NEWS RELEASE

MINCO,THE AIM LISTED PRECIOUS METAL AND ZINC EXPLORER, HAS AGREED TO ACQUIRE ORCA GOLD WHICH HAS MEXICAN SILVER AND GOLD PROJECTS

In commenting on the acquisition, John Teeling, chairman of Minco said, “Successful exploration requires good projects, good people and money. The acquisition of Orca brings all three. It will complement the excellent portfolio of gold and zinc properties held in Ireland.”

Details of the deal are as follows:-

-                     -                     Minco will acquire Orca Gold for 35 million Minco shares which will give Orca shareholders 49.6 % of Minco on full conversion.  Post exercise of options and the placing referred to below, the Orca shareholders stake will reduce to 46% of the expanded share capital. 

-                     -                     Orca, has significant gold and silver concessions in Mexico, has raised more than $1m in shareholder equity and will hold $450k cash on closure.

-                     -                     The Orca founders – Roger Turner, Matthew Dorman and Richard Thornton will become directors of Minco. They will not have service contracts but will be on a monthly salary of £4,000 stg each. 

-                     -                     Orca’s Mexican assets include two high grade silver properties, one gold property and an option on the Laguna silver tailings project estimated to contain 20 million tonnes averaging 90 g/t silver. All of the projects are in the State of Zacatecas which currently produces 17% of the world’s silver.

-                     -                     Orca has commenced a work programme on the three concession areas which consists of mapping, trenching and diamond drilling while an updated feasibility study into a 1 million tonnes a year silver-leaching project for Laguna will be initiated prior to year-end. 

-                     -                     Orca has identified other potential gold and silver opportunities in Mexico and in the Former Soviet Union. 

-                     -                     Roger Turner, who will become deputy chairman, is the former president of Nelson Gold and is the founder of Oxus Gold, the AIM listed Uzbek gold miner. Matthew Dorman has managed construction projects for leaching operations worldwide. Richard Thornton has several years experience in senior financial positions.  Paul Power has decided to step down as a director of Minco.

-                     -                     Work will continue on the current portfolio of Irish gold and zinc licences.  A prospecting programme for the recently acquired gold licences in Avoca and Kildare will commence shortly. Exploration results for the Pallas Green licence block are being evaluated. 

-                     -                     The current directors and staff of Minco will support the deal by exercising their options over shares for a cash consideration of £66,000 stg.

-                     -                     A private placement at 5p stg a share has raised £123,000 stg. John Teeling and Jim Finn have subscribed for 50% of the placing.

-                     -                     The agreement, which is subject to legal and regulatory approvals, is expected to close no later than August 31^st, 2003.

In a further comment John Teeling said, “This is a good deal for Minco. Mexico is the world’s largest source of silver, a metal emerging from a long period in the doldrums. The best place to find a mine is where there was a mine. The historic records on the Mexican properties give me great confidence that our forthcoming drilling programme will have early success. The figures on the Laguna silver tailings project look very interesting. This could be our first producer. The three new directors have outstanding track records. They are committing not only their time but also their money. We will make full use of their skills on the development of our top class portfolio of Irish zinc and gold licences. Paul Power was a founding director of the revived Minco then known as Irish Marine Oil. He has been a valued colleague for 18 years and I thank him for his help during that time.  We now have excellent gold, silver and zinc properties with other opportunities on the horizon. We have full time experienced successful managers. And, we have the money to conduct the exploration. An exciting time is ahead”. 

The cash raised by Minco and Orca is enough to fund an active exploration programme into 2004.

 The recent rise in the silver price and an expected zinc upturn place the new company in an advantageous position to exploit both commodities.

MINCO is zinc and gold exploration company traded on the AIM market in London Ticker symbol (MIO)

www.minco.ie 

Fact Sheet
Minco plc – 

Minco plc is an AIM listed base metal explorer with holds some of Irelands most promising Zinc and Gold exploration licences. Minco plc currently holds 27 zinc and 8 gold licences in Ireland. Minco plc is responsible for the most promising zinc discovery in Ireland in 20 years – the large Pallas green block where zinc mineralisation has been found in 15 holes. Minco also holds prospective gold licences in Wicklow/Wexford area of Ireland along with a royalty interest on the Curraghinalt gold project in Northern Ireland. For further information go to their website at  www.minco.ie. 

Orca Gold Corporation – 

Orca Gold Corporation is a Bahamas based unlisted public company which focus is on Gold and Silver Projects. Orca Gold has a highly experienced management team with a very strong mining and finance track record.  The management team of Roger Turner, Matthew Dorman and Richard Thornton has amassed a portfolio of silver and gold projects in the famous Zacatecas silver province in Mexico.  This portfolio of assets is comprised of the El Milagros (Silver), El Morro (Silver) and Los Pinos (Gold) properties as well as an option over the Laguna Tailings Project. Combining all the properties results in Orca having Gold Equivalent resources in excess of 1,000,000 ozs.

Orca Management – 

Roger W Turner 
ACSM, MSc, CEng  

A graduate Mining Engineer of Camborne School of Mines with a Masters Degree in Economic Geology.  Mr Turner spent 15 years in Canada in mine management positions prior to joining RTZ in London where he completed project assessments and evaluations. In 1982 he formed his own consultancy company and worked for Montague Mining Finance, Warrior International and Yorkton Securities.  In 1994 Mr Turner joined Nelson Gold Corp as President & CEO and successfully raised $52,000,000 for the construction of a 85,000oz per annum gold processing project in Tajikistan.  In 1996 Mr Turner formed Oxus Gold Corporation as President and CEO and successfully negotiated the acquisition of Amantaytau Gold Fields in Uzbekistan, a 200,000oz/per annum project.  In December 2002 Mr Turner, and Matthew Dorman, founded Orca Gold Corporation. 

 Matthew Dorman BSc MSc

Post graduation as Chemical Engineer, Mr Dorman has been involved in precious and base metals recovery for over 15 years.  He has constructed and operated both heap leach and milling circuits in various geographical locations including South and Central America and Central Asia.  Mr Dorman was appointed as Construction Manager for the successful construction of Nelson Gold project in Tajikistan, the first Joint Venture of its type completed in the country.  He was project manager for Ma’aden 5MT/a heapleach operation and was General Manager for Oxus Mining operation in Uzbekistan.   After leaving Oxus in December 2002 he co-founded Orca Gold Corporation with Mr. Turner.

Richard Thornton B.Sc A.C.A

Mr. Thornton is a chartered accountant with wide experience in the area of corporate finance. He joined Orca Gold in April 2003 to add the necessary financial skills to complement his colleagues mining expertise. He learned his trade in Arthur Young & Co before moving to Real Insurance Co Ltd and EMAP Ltd in a financial controller position. He spent 7 years with British Telecom plc as Finance Director of different divisions before engaging in a Management Consultancy role was involved in several strategic development and fundraising for several companies. He joined Energis plc as Director of Corporate Development in 1993 and before his departure in 2002, was involved in transforming it from a start-up to being the No.2 UK business Telecom Company.

Orca Properties

The El Milagros (Silver), El Morro (Silver) and Los Pinos (Gold) properties are exploration properties within part of the famous Zacatecas lead-gold-silver province. They each comprise past working operations, and apart from the inferred and indicated underground resources quoted for El Milagros vein systems,  In addition to the inferred resources, there are a number of tailings and dump materials with economically recoverable grades of silver and gold. 

EL MILAGROS

The El Milagros series of claims follow the NW/SE strike of a series of two vein systems of Oligocene age hosted amongst Cretaceous andesites and rhyolites.  The project consists of an approximately 9 km vein system with reported widths up to ~8m and 1000 g/t Ag.  A portion of this system, called the Santa Rita was mined during the colonial period. No mining has occurred beneath the water table which is ~50-60m below the surface. Previous concession owners have sunk two shafts, called Tesorito (~65m) and Tabasquena (~85m) about 1km apart on the NW end of the El Milagro system. A drift to connect these two shafts has about 200m remaining to be completed.  The known strike length of the Tesorito workings is in the order of 1km, indicating an inferred resource of some 1 million tonnes between two shafts marking either end of this strike.  An average reported grade, based upon the previous smelter returns is 580 g/t silver. The ratio between silver and gold is around 1000:1, with gold generally at 0.4 g/t.

EL MORRO SILVER PROPERTY

The El Morro property is located some 11 km north-northeast of Milagros. The area is depicted by El Morro hill, which comprises a thick extruded plug of rhyolite. The property comprises eleven claims totalling approximately 4277 hectares. The area within the claims, which has attracted much of the past historic mining and milling activity, is the area around La Haciendita. This area is an old Spanish-colonial operation and has not been touched in the past 100 years. The claims, collectively known as the El Morro claims, occupy much of the ground south of and including El Morro hill. To the south of the hill between five and six veins, around 1.5m wide, can be observed striking northwest - southeast, and dipping to the southwest at around 60⁰. The veins run between 200 and 1000 g/t silver.  Dump and tailings deposits within the property show good gold and silver grades and are being evaluated. 

LOS PINOS GOLD PROPERTY

Los Pinos claims are located around Loma Alta, which is approximately 1-1.5 km northwest of the provincial town of Pinos, and which is approximately 1.5 hours drive from Zacatecas. Pinos, with a population of some 3,500, is an historic centre for gold mining operations in the area. The oldest gold mining operation in the area was an old British gold and silver mine, and with its reported bonanza gold grades of 200+ g/t occurring in 30+ northwest – southeast striking veins, and producing gold from at least ten main shafts, made Los Pinos the largest gold producer in Zacatecas during the colonial period. 

LAGUNA TAILING PROJECT

The Laguna Tailings project is located east of the municipality of Guadalupe, Zacatecas State, and contains gold, silver and mercury tailings from silver amalgam mills, which were in production from the 15th century until the revolution in 1914.  The tailings which now reportedly contains 9.1 million tonnes with an average grade of 102 g/t silver (Ag), 0.5 g/t gold (Au) and 346 g/t mercury (Hg), based on 238 holes drilled by Real del Monte y Pachuca in 1931. A 1994 pre-feasibility study, undertaken by Kilborn Engineering of Canada, indicated that 20 million tonnes of tailings is available for processing (9.1 million submerged in the lagoon, and 10.9 million on land adjacent to the lagoon) with grades of 85 g/t silver, 0.4 g/t gold, and 350 g/t (ppm) of mercury.

FOR FURTHER INFORMATION ON ORCA GOLD PLEASE CLICK ON LINK FOR PDF PRESENTATION

You will need ADOBE ACROBAT to read this file

Orca Gold Presentation

NEWS RELEASE
(27^th January 2003)
INTERIM STATEMENT 
FOR THE SIX MONTHS ENDED 31^ST OCTOBER 2002

The exploration focus of Minco for all of 2002 was on our 13 licence block area in Pallas Green, Limerick, where we hold 375 sq. kms. of highly prospective ground. Our target is zinc. Previous drilling has traced zinc mineralisation over a strike length of 25 kms. with a width of 2 to 3 kms.

During the year, together with our 75% partner, Noranda, Minco drilled 13 holes for a total of 3500 metres of drilling. 

Considerable encouragement continued to be received from this drilling with the discovery of a new and extensive zone of massive sulphide mineralisation north of Caherconlish.   The new zone is 12 kms. west of Castlegarde, where two high-grade massive sulphide lenses had been previously discovered by Minco and Noranda.

North of Caherconlish, ten drill holes have outlined a zone of massive mineralisation with variable, low-grade zinc and lead values, over a strike length of 5 kms.  This mineralisation is comparable to the halo around the Silvermines orebodies.

All ten holes intersected altered reef limestone, with extensive development of ‘Black Matrix Breccias’ similar to the Lisheen, Galmoy and Silvermines ore deposits. Two holes 636-8 and 636-10, 300m apart, intersected the strongest zinc and lead values over 11.3m and 7.96m, respectively.  In hole 636-10, zinc values ranged from 0.2% to 11.43%, and in hole 636-8, from 0.02% to 1.59%.

A step-out hole, 2kms. west of Castlegarde, intersected 14cms. of massive sulphides similar to that at Castlegarde, assaying 15.07% zinc and 0.63% lead.  This hole is isolated, lying 600m from the next adjacent drill hole.

Pallas Green maybe one of the best zinc targets in Ireland and perhaps in the world, but it needs much more drilling. 

Most of the 25 km strike remains unexplored by drilling and the rest has only been drill tested by widely spaced, isolated holes.

The zinc industry is in the doldrums and exploration budgets worldwide have been decimated.  Our partner Noranda is no exception.  They have no budget to drill in Ireland in 2003. To maintain an active exploration programme we are vigorously seeking alternatives including a sole venture by Minco.  The ground warrants a good work programme.

Exploration in Ireland has a future.  We continue to hold our zinc exploration blocks in Shinrone, Moate and Holycross and our gold licences in Wicklow/Wexford.  We are examining opportunities to expand our Irish licences in both zinc and gold.

Outside of Ireland, exploration opportunities are under examination. Prospects are being evaluated in Europe and Africa though nothing is close to fruition. 

We had costs under strict control with a small operating loss of €47,000 which is slightly less than last year.

20^th November 2002

HIGHLIGHTS OF THE STATEMENT MADE BY JOHN TEELING, CHAIRMAN, 

AT THE MINCO AGM, DUBLIN NOVEMBER 20^TH

MINCO IS AN AIM LISTED IRISH ZINC EXPLORER

• Minco is firmly focused on drilling our 375 sq km licence block in Pallas Green, Co Limerick, held in joint venture with Noranda, a major international mining company, where widespread zinc mineralisation has been discovered.
  
  
• To date, in 2002, 11 holes have been drilled in Pallas Green, two are in progress and three more remain in the programme. 
  
  
• Nine widely spaced holes covering a 5km strike length have been drilled in the Caherconlish area of the block.  All nine holes discovered low-grade zinc.  Two of the three most recent holes, 300 metres apart, contained the following assays.
  
  

• The mineralisation is very similar but on a much larger scale than that forming the halo around the Silvermines zinc mine located about 25 km to the north. It can exceed 20m in thickness and is open in all directions.
  
  
• In the Castlegarde area 11 kms to the east of Caherconlish, two holes were drilled and both holes intersected mineralisation.  Hole 3342-24 intersected 14 cms of 15.07% zinc and 0.63% lead about 2 km west of the two high-grade zinc lenses discovered in 2000 and 2001.
  
  
• To date, almost 70 holes have been drilled on Pallas Green.  Every hole has alteration with many mineralised yet exploration is only at the preliminary stage.
  
• High-grade zinc mineralisation has now been discovered in four different areas along the Pallas Green mineral trend which extends for 25kms.

The AIM listed Irish Zinc and Gold explorer announces 

 Preliminary Results for the year ended 30 April 2002

(23^rd October 2002) 

PRESS RELEASE (SEPTEMBER 17, 2002)

MINCO PLC

Update on Summer Drilling Programme at Pallas Green

·        Extensive Zone of Dolomite Brecciation and Sulphide Mineralisation Intersected

·        Spectacular Lens of Massive Pyrite Mineralisation Located

The 2002 summer exploration programme at Minco’s highly prospective Pallas Green zinc project near Limerick has met with considerable success.

Between June and September, Minco, together with its joint venture partner Noranda, drilled a total of seven holes.  All of the holes encountered significant hydrothermal massive alteration and extensive brecciation.  In particular, one hole (MN636-8) intersected an extensive zone of dolomite brecciation that directly overlies a seven meter thick lens of massive pyrite mineralisation, with galena and sphalerite, at a depth of about 220 meters. 

The objective of the summer 2002 drilling programme was to test targets that had been identified by earlier exploration work, including airborne geophysics, ground geophysics, soil geochemistry, lithogeochemistry and geology.

The 2002 drilling programme focused on two specific regions at Pallas Green; 

-           the first located in the vicinity of the two small high grade massive sulphide lenses discovered 600 metres apart by Minco and Noranda at Castlegarde in 2000/2001; and the other located about 7.5 to 15 kilometers to the west,  in the northwest  part of the licence block, in the area between the low grade zinc mineralisation discovered at Shrane in 1999 and the massive pyrite mineralisation discovered at Grange West / Gortnagrde in 2001.

Drilling in the first area at Castlegarde proved very difficult and slow due to bad ground with only two holes drilled.  Minor amounts of  sphalerite and pyrite with some galena were encountered including a 10 cm section high grade sphalerite and pyrite mineralisation.

In the second area, in the northwest part of the licence block, five widely spaced holes over a 5.5 km strike length have intersected stratiform massive pyrite at the target horizon with minor zinc and lead mineralisation.   It was in this target area near Caherconlish that hole MN636-8 was drilled, targeted on an area of structural and geological complexity with a major soil geochemical anomaly.   This hole intersected a seven meter thick lens of massive pyrite mineralisation with minor galena and sphalerite near the base of the Waulsortian Reef Limestone.  The Waulsortian Reef zone is important because it is the geological formation that hosts the ore deposits at the Galmoy, Lisheen, Silvermines and Tynagh zinc-lead mines (i.e. all the major Irish major Irish zinc mines except Tara).

The alteration and sulphide mineralisation identified in Hole MN636-8 is considered highly significant and it closely resembles the alteration halo found around the Silvermines mineralisation.  Plans are under way to explore further in the vicinity of Hole MN636-8.   A drill rig is scheduled to go on site in mid September to drill a step out hole about 500 metres to the southwest to a target depth of about 300 metres.

The exploration work to date this year at Pallas Green has reconfirmed the prospectivity of the Pallas Green licence block.  The identification of the dolomite brecciation and the discovery of the extensive pyrite mineralisation, with low grade lead and zinc, at Grange West, suggest that this region lies on the periphery of a major mineralizing hydrothermal system or event.  The brecciation is similar to the black matrix breccias found at the Lisheen and Galmoy mines while the pyrite mineralisation is comparable to similar style mineralisation at the Silvermines, Lisheen and Galmoy mines.

Commenting on the exploration results for 2002,  John Teeling, Chairman of Minco said:

“The discovery of this lens of extensive pyrite mineralisation accompanied by zinc and lead at Grange West, taken  together with the discovery of the two high grade lenses near Castlegarde in 2000/2001, all continue to indicate that Pallas Green remains the best zinc prospect in Ireland and probably one of the best in the world.  The hunt is now on to find the main orebody but there is no certainty in exploration”

Drilling is continuing at Pallas Green and it is hoped to drill a further three holes before year end.

ABOUT MINCO: -  Explanatory Note:  - Background Information:

Minco plc  is an active mineral exploration company in Ireland holding interests in about 30 licences in prime exploration areas .

Target:  The target at Pallas Green is a large zinc/lead orebody similar to others discovered in Ireland, particularly the Silvermines, Galmoy and Lisheen zinc/lead mines, which are all located within 45 kilometers of Pallas Green.

Location:  The Pallas Green property is an area of known extensive mineralisation in County Limerick, southwest Ireland, 45 km southwest of Lisheen, 25 km south of the former Silvermines mine and 4 km west of the former Gortdrum mine.

Licence:  The Pallas Green block comprises 13 licences covering 375 square kilometers.

Expenditure:  Over the past three years, Minco and Noranda have drilled over 70 holes.  Noranda has expended in excess of  €1,500,000 to earn a 75% interest in the block. 

Breccias:   Breccia is a fragmental rock.   The significance of extensive dolomitisation and brecciation  is that the limestone has been significantly broken up and altered, thus  creating the conditions for both the migration of hydrothermal fluids and replacement of the limestone by sulphide minerals.

Dolomite:      Dolomite is a limestone containing more than 40% magnesium carbonate.  Its increased porosity makes  it a favourable  host for mineralisation.

Pyrite:  The presence of pyrite mineralisation is important because pyrite, although itself uneconomic,  is always  associated with zinc/lead, particularly in other Irish mines.

Sulphide:   Sulphide is a compound of sulphur, with more than one element, usually iron, copper, lead or zinc.

Features:  The identification of alteration, brecciation and pyrite mineralisation at Pallas Green is important because it indicates the presence of  features that can be seen in drill holes peripheral to the Silvermines, Galmoy and Lisheen orebodies.  Recent studies at Castlegarde have demonstrated that the hydrothermal fluids, which transported the mineralisation were at the same temperature as those that formed the Lisheen, Galmoy, Silvermines and Tynagh orebodies.

Grade:  The discovery of the small high grade lenses at Castlegarde in 2000/2001 was the most significant zinc/lead discovery in Ireland since the discovery of the Lisheen  mine in 1990.  This discovery is important because it demonstrates that the geological conditions at Pallas Green have the potential to host  high grade zinc mineralisation of Lisheen type.  The best intersections in the Castlegarde lens were;  3.26 metres of 21.2% zinc with 4% lead;  and 2.9 metres of 18.2% zinc with 2.16% lead.

Zinc Price:  Minco is aggressively exploring Pallas Green despite the current low zinc price.  Zinc is a cyclical industry.  The current overproduction worldwide and economic downturn has depressed zinc prices to the point where most zinc mines now lose money.  As a result many zinc mines will shut down, thus reducing supply, and as the world economy recovers the price of zinc metal will inevitably increase.  Minco believes that the foundations for a future boom in the zinc price are being laid in the current depression.

23 April 2002

DRILLING STARTS ON PALLAS

GREEN ZINC DISCOVERY

“Over the past two years we have made exciting discoveries on our Pallas Green block. This year we are going back once more to the Castlegarde area. The zinc industry is a tough place at present but Pallas Green, the best discovery in Ireland in a decade, is worthy of investment"
John Teeling, Chairman Minco plc.

Drilling for zinc and lead on the Pallas Green property in County Limerick, Ireland, has recommenced.  The objective is a large zinc-lead discovery similar to the Minorco mine at Lisheen Co Tipperary and the Arcon mine at Galmoy Co Laois. The exploration programme, which is a 25/75 percent joint venture between Minco and Noranda, a major international mining company, will drill at least six holes to test and upgrade targets identified in 2000 and 2001. Noranda earned their 75 percent interest by spending 1.2 million Euro over the past three years. The Pallas Green block consists of nine contiguous licences covering an area of 279 sq kms located to the southeast of Limerick city.  Exploration in recent years has identified several zones of zinc-lead-pyrite within an alteration trend, 2-3kms in width and traceable for a distance of 25 kms across the block.The two high-grade small zinc lenses discovered in 2001 at Castlegarde, within the eastern part of the block, are considered likely to be peripheral to larger massive lenses.  Similar lenses are found in the areas around the Lisheen and Galmoy mines.  Step-out drilling at Castlegarde to follow up on the 2001 discoveries is now underway.

NEWS RELEASE

(23^rd January 2001)

INTERIM STATEMENT

FOR THE SIX MONTHS ENDED 31^ST OCTOBER 2001

The past year has been nothing short of a disaster for mining companies.  Low metal prices, particularly in zinc, meant that even the best mines and best run companies struggled to maintain viability.  The zinc price fell to $740 a ton in 2001, a historically low price.  At this price, many mines are unprofitable thus reducing cashflow for exploration.  This has lead to a major fall in exploration expenditure and has had a direct impact on Minco’s joint venture partners.

The main focus of activity of Minco remains the Pallas Green area of Co. Limerick in Ireland where a joint venture between Minco and Noranda of Canada is exploring for zinc on a 350km block of 13 licences.  Noranda has reduced its international exploration budget for 2002 but remains committed to the Pallas Green project where it has now spent €1,200,000 to earn a 75% interest. Almost all of the 32 holes drilled on the block during 2001 intersected mineralisation or alteration.  Five contained high-grade zinc. This is probably the best base metal discovery in Ireland in over a decade. Geophysical, geochemical and drilling data gathered in recent years is being re-analysed using new techniques to better identify the nature of the deposit and the possible location of a commercial zinc orebody. The 2002 exploration programme is being finalised at present but it should involve a major drilling programme from April through September.  Minco will participate 25% in the 2002 programme. 

In addition to the Pallas Green licence block Minco holds 21 zinc exploration licences in Ireland as well as 5 gold licences.  We have an interest in an ongoing joint venture on 5 zinc licences in the Moate area with Anglo American.  Billiton has withdrawn from its joint venture in Moate and has relinquished the single licence back to Minco.

Because of reduced exploration worldwide Noranda has decided to exit its joint venture with Minco on both the Shinrone and Holy Cross properties with the result that these are now again 100% owned by Minco.

The Shinrone property, covering 11 licences, represents one of the most strategic licence blocks within the Irish Midlands Orefield, where all of the Irish zinc discoveries have been made. Minco has over 11,000 metres of drill core giving a good, but as yet incomplete, picture of the geology of Shinrone. We are undertaking a complete compilation and reassessment of all recent work with a view to developing targets and seeking new joint venture partners. 

We recently decided to renew our gold licences in Donegal and Wexford/Wicklow.  Present gold prices make it difficult to justify expenditure on targets that appear to be small narrow vein underground prospects but both areas have excellent potential.

While Ireland has much to recommend it for exploration and is regarded as highly prospective for zinc, it is an expensive country in which to operate.  The licence terms are heavily weighted against long-term explorers.  In fact, the terms hurt those companies, like Minco and Noranda, which have made long term commitments to Ireland. The terms compare unfavourably with those in many lower cost developing countries. While your Board believe that Pallas Green is the place to spend funds we are mindful of the need to create wealth and value for our shareholders.  As a consequence, we have an ongoing programme of examining new possibilities including opportunities to buy shares/companies rather than buying fixed assets or spending money on new grass roots exploration.  We have finance to fund all of our exploration commitments. 

Although it is hard to believe these days, mining remains an essential industry to the development of society. Mining predates agriculture by hundreds of years.  Exploration is the R & D of the industry and must continue to maintain operations into the future.  The industry will turn around, it is just a question of when.  There are signs that the world economy may improve in 2002.  This is already reflected in an improving zinc price. Minco will benefit from an upturn. 

HIGHLIGHTS OF COMMENTS MADE BY THE CHAIRMAN AT THE AGM OF MINCO, DUBLIN NOVEMBER 21^ST, 2PM.

Minco is an active zinc explorer prospecting on 39 licences mainly in the Midland Orefield of Ireland.  The current focus of activity is on the Pallas Green block of 13 licences in Co Limerick where some 50 holes have been drilled since the start of the programme. Two new zones have been found and a number of holes have produced significant grades of zinc over mineable widths.

Over the winter months the geochemical, geophysical and drilling data on the project will be re-evaluated using new techniques.  It is expected that a drilling programme will recommence in Spring 2002. The drilling programme proposed for 2002 will provide a better insight into what is going on but it will take time and many more drill holes before the shape and size of any orebody is known.

The geological evaluation of Pallas Green is at an early stage but we believe it to be the most promising discovery project in Ireland in a decade. 

Apart from Pallas Green, active exploration is continuing on our Moate block of licences where our partner Anglo American has recently commenced drilling.  No results are yet available.  Meanwhile our other joint venture partner, Billiton, is continuing to explore on the remaining Moate licences.

 The world zinc industry is in a chaotic state.  Prices are at historic lows making it virtually impossible for zinc mining companies to generate cash for future exploration and development. Many zinc mines are closing.  We are not immune to the effects of current low metal prices.  Budget constraints by Noranda have led them to withdraw from their joint venture with Minco on the Holy Cross and Shinrone blocks. They will focus scarce resources on Pallas Green.  The blocks have now been returned to Minco and we will now re-evaluate and seek out new partners. 

One aspect of the current devastation in the mineral industry is that it may be cheaper to buy than to explore or build.

While exploring in Ireland will remain the main platform of Minco strategy your directors will evaluate opportunities to acquire producing assets in Ireland or elsewhere.

For further information please contact:

John Teeling, Chairman: +353 1 833 2210
John Kearney, Director: +001 416 3626686 
Ken Rees, Winningtons:  00 44 117 317 9477 or mobile 0044 7802 4665678

www.minco.ie