Oro Silver Resources Ltd.
TSX VENTURE : OSR

Oro Silver Resources Ltd.

June 15, 2009 09:00 ET

Oro Silver Commences Drilling On El Compas Property, Zacatecas, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2009) - Oro Silver Resources Ltd. ("Oro Silver" or the "Company") (TSX VENTURE:OSR) reports that it has commenced a diamond drill program on its 34 km2 El Compas property in Zacatecas, Mexico. This drill program was initiated at the El Orito and El Compas vein targets with the aim of increasing the Company's National Instrument 43-101 gold-silver resource (65,000 gold-equivalent ounces in the Indicated category and 41,200 in the Inferred category, calculated at a 3 g/t gold-equivalent cut-off (see Oro Silver's press release dated September 18, 2008). The average grade of this resource is 5.82 g/t gold and 59.1 silver (in the Indicated) and 4.94 g/t gold and 45.7 silver (in the Inferred)). The results of the ongoing drill program could have a major impact on how the Company continues the drilling and definition of the silver and gold resource on the property.

Oro Silver completed 5,400 metres of core drilling in 2008. The drilling was designed to test two vein targets out of the ten total targets identified to date in the El Compas gold-silver district. The drilling completed so far on the first two drill targets, El Compas and El Orito, indicates that the El Compas vein zone is open at depth to the north and east, while the El Orito vein zone is open to the south. The gold-silver mineralized veins are at surface, and the main El Compas vein has been previously exploited by small-scale mining from 2003 to 2007.

"We are looking forward to continued exploration on our El Compas property, as we are now prepared to drill targets defined to date in this under-explored district with the goal to discover new ounces and increase our gold-silver resource base," stated Darren Bahrey, President and CEO of Oro Silver.

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 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 and the timing and amount of expenditures.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Oro Silver Resources Ltd.
    Darren Bahrey
    President & CEO
    (604) 646-1585
    (604) 642-2411 (FAX)
    Website: www.orosilver.com