Mexican Silver Mines Ltd.
TSX VENTURE : MSM
FRANKFURT : MS2

Mexican Silver Mines Ltd.

October 31, 2007 09:30 ET

Mexican Silver Mines Increases Drill Program at Vallecillo

CALGARY, ALBERTA--(Marketwire - Oct. 31, 2007) - Mexican Silver Mines Ltd. ("Mexican Silver") (TSX VENTURE:MSM)(FRANKFURT:MSM)(WKN:A0MSLE) is pleased to announce that the drilling program at Vallecillo has been expanded from eight holes to 12 holes. In the east, additional holes will be drilled to test the northeastward extension of the Dolores-San Pablo structural zone which is projected into an area covered and obscured by recent sediments. In the western part of the district, additional holes will be drilled to test multiple sub-parallel structures that have been located on the surface mapping program. These sub-parallel structures may represent splays off the main zone of the Vallecillo district.

Core samples from holes one to six at Vallecillo have now been shipped to ALS Chemex for assays and results are expected soon.

Mexican Silver further advises that its second company owned Longyear 44 drill rig is now on site and is currently drilling Hole 9 at Vallecillo. The second rig's daily production is matching that of the first and both rigs are now in full operation.

"We are very pleased with the daily production and with the crews on both rigs. We have also ensured good inventories of steel and parts so that we can avoid any down time due to mechanical or down hole problems," stated Feisal Somji, President. "We plan to have both rigs turning well into next year with our expanded exploration budget and continued target generation from our geological team. Having both machines running smoothly out of the gate is a real testament to our Mexican based team."

Mr. William Dynes, P. Geol. is the Qualified Person, as defined in NI 43-101, who has reviewed and verified the scientific and technical mining disclosure contained in this news release.

About Mexican Silver Mines

Mexican Silver Mines is a silver focused junior resource company developing three former silver producing properties in north-eastern Mexico. To learn more about Mexican Silver Mines, please visit: www.mexicansilvermines.com.

ON BEHALF OF THE BOARD OF MEXICAN SILVER MINES LTD.

Feisal Somji, B.Sc., MBA, President and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

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