Prospero Silver Corp.
TSX VENTURE : PSL

Prospero Silver Corp.

April 01, 2010 09:00 ET

Prospero Silver Corp.: New Skarn Zone Includes 11 Meters of 143 g/t Ag and 1.63% Cu at San Luis Del Cordero, Durango Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2010) - Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased to announce the results from the first two diamond drill holes on its San Luis del Cordero ("Cordero") silver project. Drilling targeted a new mineralized skarn zone buried under alluvium cover located 500 meters east of the historic Sta. Rosa Mine. Results are as follows and include an earlier shallow discovery hole:

DDH FROM TO WIDTH (mts) Ag g/t Cu % Zn %
PSCL-10-01 80.32 110.91 30.59 91.5 0.92 0.70
including 80.32 82.80 2.48 190 1.51 0.35
including 86.03 89.67 3.64 111.2 1.28 0.60
including 99.62 110.91 11.29 143.9 1.63 1.19
Including 109.61 110.91 1.3 283.7 7.91 3.1
PSCL-10-02 53.9 71.2 17.3 106 0.82 0.70
including 53.9 60.15 6.25 189.8 0.63 0.42
including 66.1 71.2 5.1 115.9 1.78 1.63
HCSR-02 (2007 DDH) 24.10 28.95 4.85 102 0.64 2.0

Note: true widths are estimated to vary not more than 15% from intersected widths.

These intercepts differ from earlier more structurally controlled vein-type styles of mineralization in the district such as those in the historic Sta.Rosa and India Bonita veins. The two new intercepts are dominated by prograde grossularite calc-silicate-chalcopyrite, and retrograde quartz-chalcopyrite-tetrahedrite-sphalerite bearing mineralization, and are more characteristic of the upper portions of a higher temperature core zone of a skarn-type deposit. The calc-silicate zone at the explored depths is located within hornfels recrystallized from the Casita formation Jurassic shale and sandstone layers. Massive Aurora limestones of Cretaceous age which outcrop in the district are anticipated to occur at depth under a thrust fault, and are targets for more pervasive and larger development of skarn mineralization.

The exploration strategy is to follow laterally and downwards the mineralized skarn body which is open in all directions. The quartz porphyry/Jurassic sedimentary host rock contact lies under alluvium cover not more than 100 meters to the south of the new skarn zone and will also be explored in the ongoing drill program.

These initial intercepts indicate over 100 meters of longitudinal length on the new mineralized system, are characterized by both sizable widths and grades which suggests a target for either selected or bulk underground mining methods, and are typical of polymetallic skarn and high temperature carbonate replacement deposits in the Mexican Altiplano. At Cordero, this type of mineralization occurs directly under thin alluvium cover and potential targets could be developed quickly by ramping down from the present surface.

Peter Christopher, PhD, P. Eng is the Qualified Person, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this press release and quality assurance of the exploration data and analytical results.

About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in Mexico and who work for its wholly owned subsidiary Minera Fumarola, SA de CV (Fumarola). Prospero's objective is to quickly evaluate the properties currently optioned and focus on bringing one into early production. Priority will be given to high grade gold projects. 

Cautionary Statement:

Samples were assayed by ALS Chemex in North Vancouver, and follow QAQC procedures which include the inclusion of blanks, duplicates and standards for all metals reported. This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including statements regarding future exploration plans. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR (www.sedar.com), including the risk factors discussed in Prospero's November 27, 2009 prospectus. Although Prospero believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, Prospero disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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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