Minco Silver : Annual Information Form - Year Ended December 31, 2020

ANNUAL INFORMATION FORM

For the year ended December 31, 2020

Dated as at March 29, 2021

#2060-1055 West Georgia Street, Vancouver, British Columbia, Canada V6E 3R5

Tel: [phone]

Fax: [phone]

Toll Free: 1-888-288-8288

Email:[e-mail]

Website:www.mincosilver.ca

TABLE OF CONTENTS

ITEM 1.

PRELIMINARY NOTES 4

1.1 Date of Information 4

1.2 Cautionary Statement Regarding Forward-Looking Information 4

1.3 Disclosure of Technical Information 5

1.4 Currency 6

1.5 Glossary of Terms 6

ITEM 2. 2.1

CORPORATE STRUCTURE 8

Name, Address and Incorporation 8

2.2 Inter-corporate Relationships 9

ITEM 3. 3.1 ITEM 4.

GENERAL DEVELOPMENT OF THE BUSINESS 10

Three Year History 10

DESCRIPTION OF THE BUSINESS 11

4.1 General 11

4.2 Chinese Mining Regulations 12

4.3 Risk Factors 12

ITEM 5. 5.1 5.1.1

MINERAL PROPERTIES 20

The Fuwan Project 20

Introduction 20

Feasibility Study 21

Mining Methods 22

Mineral Processing and Metallurgical Testing 26

Tailings Management Facility 27

Infrastructure and Ancillary Facilities 27

Environmental 28

5.2 Changkeng Project 31

ITEM 6. DIVIDENDS 33

ITEM 7. DESCRIPTION OF CAPITAL STRUCTURE 34

ITEM 8. MARKET FOR SECURITIES 34

ITEM 9. SECURITIES SUBJECT TO CONTRACTUAL RESTRICTION ON TRANSFER 34

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS 34

Cease Trade Orders, Bankruptcies, Penalties or Sanctions 36

Conflicts of Interest 36

ITEM 11. AUDIT COMMITTEE DISCLOSURE 37

The Audit Committee's Charter 37

Composition of the Audit Committee 37

Relevant Education and Experience 37

8

8

Pre-Approval Policies and Procedures 38

External Auditor Service Fees 38

ITEM 12. LEGAL PROCEEDINGS AND REGULATORY ACTIONS 38

ITEM 13. REGISTRAR AND TRANSFER AGENT 38

ITEM 14. INTEREST OF MANAGEMENT IN MATERIAL TRANSACTIONS 38

ITEM 15. MATERIAL CONTRACTS 39

ITEM 16. INTERESTS OF EXPERTS 39

ITEM 17. ADDITIONAL INFORMATION 39

SCHEDULE "A" - AUDIT COMMITTEE CHARTER

ITEM 1.

PRELIMINARY NOTES

1.1 Date of Information

All information in this Annual Information Form is as of December 31, 2020, unless otherwise indicated.

1.2

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this Annual Information Form, contains certain "forward looking information" within the meaning of applicable securities laws, which reflect management's current expectations regarding, among other things and without limitation, Minco Silver Corporation's ("we", "our", "us", "its", the "Company" or "Minco Silver") future growth, results of operations, performance and business prospects, opportunities, future price of minerals and the effects thereof, the estimation of mineral reserves and resources, the timing and amount of estimated capital expenditures, the realization of mineral reserves estimates, costs and timing of proposed activities, plans and budgets for and expected results of exploration activities, exploration and permitting time-lines, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation obligations and expenses, the availability of future acquisition opportunities and use of the proceeds from financings. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions events or results "may", "could", "would" or "might" occur or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Forward looking information is provided based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. Such information is based on numerous assumptions regarding present and future business strategies and the environment in which the Company operates, including the price of silver and gold, anticipated costs and the Company's ability to achieve its goals. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward looking information include, among others, silver price volatility, mineral reserves and resources and metallurgical recoveries, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), activities by governmental authorities (including changes in taxation), currency fluctuations, the speculative nature of mineral exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property.

Forward looking information included or incorporated by reference in this Annual Information Form is based on a number of assumptions including, but not limited to:

• ● The continued availability of equity and debt financing to fund the completion of the Fuwan Silver Project and Changkeng Project and other exploration and development activities;

• ● The Company uses of proceeds from the Company's previous public offering as intended;

• ● The continued ability of the Company to attract and retain key management personnel;

• ● The ability of the Company to evaluate precious metals project outside China for potential acquisition;

• ● The ability of the Company to renew the exploration permits, mining area permit before their expiry;

• ● The ability of the Company to pursue an alternative strategy in finding a large mining group as a business partner in China or outside China; and

• ● The Company is able to withdraw sufficient money from China when needed (e.g. to finance acquisition of new mineral properties at areas other than China).