No. The answer is no. But it might be possible later.
When the 2012 Mac mini was first released, everyone was excited to see an upgraded quad-core processor, the Intel Core i7-3615QM. That processor has a max memory size of 32GB. However, the Mac mini only had two RAM slots and 16GB modules were not available. (e.g., 2x16GB = 32GB)
As best we can tell, it is simply software holding it back at this point. In other words, if Apple can find it in their heart to update the MRC (Memory Reference Code) in the firmware of the Mac mini then we could all feed our RAM addiction. Now that the modules are available, it would sure be nice to have that option. If it does happen, the value of used Mac minis will remain high. (Anyone with more info, please feel free to contact us.) In the mean time, here are all the available Mac mini upgrades.
What are the chances?
I know it’s not likely, but it’s not the first time this would happen. Back in 2009, we wrote about "The State of the Mac mini" and we were the first ones to confirm that a RAM increase had happened. With a firmware upgrade, the Mac minis at that time would go from supporting 4GB to 8GB.
Update: A radar has been filed to get those Mac minis to support 32GB: