Silvermex Resources Ltd.
TSX VENTURE : SMR

Silvermex Resources Ltd.

December 15, 2009 09:25 ET

Michael Callahan, Prior Hecla Executive, Appointed as New President of Silvermex

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) - Silvermex Resources Ltd. (TSX VENTURE:SMR) (the "Company" or "Silvermex") is pleased to announce the appointment of Mr. Michael Callahan as the new President and Director of Silvermex Resources Ltd. This appointment will become effective December 15, 2009 and has been made as an on going effort to add production experience, depth and diversification to Silvermex's management team. Mr. Arturo Bonillas, the current President of Silvermex, will continue as a Director and work closely with Mr. Callahan to help develop the strategies necessary to advance Silvermex to production.

Mr. Callahan served as Vice President of Hecla Mining Co. (NYSE: HL) and President of Hecla's Venezuelan Operations from 2006 to 2009. He served as Vice President, Corporate Development from 2002 to 2006. He served as President of Minera Hecla Venezolana, a subsidiary of Hecla Mining Co., from 2000 to 2003. Mr. Callahan joined Hecla Mining Co. in 1989 and held a variety of positions including Director, Accounting & Information Services and Senior Financial Analyst before being named Vice President. From 1997 to 1999, he served as Financial Manager of Silver Valley Resources.

The Board of Directors of Silvermex supports and welcomes Mr. Callahan to the Silvermex team and Duane Nelson comments, "I believe Michael will provide strong leadership and guidance on all levels of Silvermex's activities and add extensive value through his broad operational and executive experience in managing projects and companies from exploration through the production phase. The experience in Latin America combined with his experience on the merger and acquisition front will help us transform Silvermex over the coming months." Mr. Callahan's first priority will be to manage the effective transition of Silvermex from an exploration company to a profitable mining company.

Mr. Callahan will become fully active with Silvermex on December 15, 2009. The Board of Directors of Silvermex intends to grant Mr. Callahan a signing bonus, subject to receipt of required regulatory approvals, of an aggregate of 1,250,000 common shares (the "Common Shares") as a retention and incentive bonus. The Common Shares will be issued in increments over a two-year period from the date of receiving all necessary approvals and will be subject to certain conditions. The Company will also issue 500,000 common share purchase options ("Stock Options") pursuant to Silvermex's incentive stock option plan (the "Plan"). Each Stock Option can be exercised into common shares of the Company at an exercise price of $0.34 per share. The term of the Stock Options granted under the Plan will be five years. The grant of Shares and Stock Options are subject to receipt of all required regulatory approvals including the TSX Venture Exchange.

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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