Oro Silver Resources Ltd.
TSX VENTURE : OSR

Oro Silver Resources Ltd.

September 26, 2007 09:00 ET

Oro Silver Acquires Two Silver Mining Properties in Zacatecas, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2007) - Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR) is pleased to announce its acquisition of two adjacent mining concessions located 17 kilometers north of the company's recently optioned El Compas Mine project in Zacatecas, Mexico.

Highlights:

- Strategic acquisitions expand Oro Silver's position in the district

- Surface sampling assay results up to 1,057.7 g/t Ag and 3.54 g/t Au (float)

- 100% ownership for US$167,000

Oro Silver purchased 100% of the Santa Cecilia and Santa Lucia concessions in exchange for payments amounting to US$167,000 to two private individuals. The concessions are not subject to any NSR or additional payments. The concessions cover a 28 hectare area that includes approximately 500 meters of strike length of at least two parallel veins of the significant El Descubrimiento vein system.

Six surface samples were collected during Oro Silver's due-diligence. One float sample returned 1,057.7 g/t Ag and 3.54 g/t Au, and a grab sample of banded quartz veining returned 403.4 g/t Ag.

Santa Cecilia is one of the 30 properties for which Oro Silver obtained rights of first refusal under the agreement signed April 21, 2007. Under this agreement, Oro Silver was granted an exclusive option to match any offer to purchase made by a competing company on any number of the 30 properties, for a one-year period. This acquisition was prompted by such an offer. Oro Silver continues to have rights of first refusal on the remaining 29 properties.

"The acquisition of the Santa Cecilia and Santa Lucia concessions is one more step in our growth strategy in Zacatecas. It provides diversification within the Zacatecas silver district, while presenting us with excellent potential for new discoveries in a previously mined part of the district," stated Greg Cox, President and CEO of Oro Silver.

Oro Silver Resources maintains a strict quality control program. The due diligence and sampling were supervised by Mr. Herve Thiboutot, P. Eng. and Vice-President of Exploration and Development for Oro Silver, who is the qualified person as defined by National Instrument 43-101. Mr. Thiboutot has reviewed the content of this press release. Samples were submitted directly to Inspectorate de Mexico, S.A de C.V. for preparation in Durango, Mexico, and analysis in Reno, Nevada. Analysis was conducted on 2 assay ton samples, with one standard and one blank sample inserted every 30 samples. Analysis of Au and Ag was by fire assay, with a gravimetric finish on samples exceeding 3 g/t Au, or 200 g/t Ag.

On behalf of the board of directors,

Gregory M. Cox, President and CEO

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Oro Silver disclaims any intention or obligation to revise or update such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Oro Silver Resources Ltd.
    Matthew Chandler
    Corporate Communications Manager
    (604) 646-1586
    (604) 642-2411 (FAX)