Directorate Change

RNS Number:6530T
Minco PLC
24 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
23rd 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. Further details concerning Mr. Patel will be
announced shortly and an application will be made shortly for the 5,210,526 new
ordinary shares to be admitted to trading on AIM.



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       [phone]
                            E-mail:  [e-mail]

John Teeling                Tel.      [phone]
                            E-mail:  [e-mail]

Richard Thornton            Tel       [phone] and 07957 687 386
                            E-mail:  [e-mail]



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


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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