Oro Silver Resources Ltd.
TSX VENTURE : OSR

Oro Silver Resources Ltd.

November 30, 2009 08:00 ET

Oro Silver Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2009) - Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR) announces that it intends to complete a non-brokered private placement of up to 5,000,000 units at a price of $0.17 per unit for proceeds of up to $850,000. Each unit will consist of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at an exercise price of $0.25 per share for a period of 1 year from the date of closing. The units issued will be subject to a four-month hold period from the closing date.

The net proceeds of the private placement will be used for exploration and resource definition on Oro Silver's El Compas property in Zacatecas, Mexico, and for working capital and general corporate purposes. Finder's fees may be payable in connection with the private placement in accordance with TSX Venture Exchange policy. The above transaction will be subject to regulatory approval.

About Oro Silver

Oro Silver is a silver exploration company pursuing early and advanced stage silver-based opportunities primarily in Mexico. Oro Silver's strategy is to develop properties towards silver production through a strategic business arrangement and development plan focused on advanced-stage projects with known silver resources that exhibit potential for expansion. The El Compas mine continues to be the cornerstone for Oro Silver's growth strategy in the Zacatecas silver district.

ON BEHALF OF THE BOARD OF DIRECTORS,

Darren Bahrey, President & CEO

Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities, future acquisitions and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities, the timing of future acquisitions and the timing and amount of expenditures.

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

Contact Information

  • Oro Silver Resources Ltd.
    Darren Bahrey
    President & CEO
    604 646-1588
    604 642-2411 (FAX)
    www.orosilver.com