Argentum Silver Corp.
TSX VENTURE : ASL

Argentum Silver Corp.

December 12, 2011 09:00 ET

Argentum Awards Drilling Contract on its Coyote Project in Jalisco, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2011) - Argentum Silver Corp. ("Argentum" or the "Company") announces that it has contracted Major Drilling de Mexico, S.A. de C.V. to carry out the first phase of drilling on the Company's 1053 hectare Coyote Project, located in the state of Jalisco, Mexico. Argentum expects the drilling program to begin mid January of 2012 and consist of a minimum of 2000 meters. This initial phase of drilling will target four of the six currently defined vein systems on the Coyote project. Exploration of the Coyote property has shown numerous systems that combine for a strike-length of more than five kilometers. Initial drill targets range from 80 meters to a maximum depth of 130 meters.

Argentum holds the option to expand the drilling program up to 3000 meters. "We are excited to announce this first phase of drilling, our recent sampling program showed encouraging results and we are confident in moving this project forward," stated Warren McIntyre, President of Argentum.

To view the map associated with this release, please visit the following link: http://www.argentumsilvercorp.com/i/pdf/CoyoteDrillMap.pdf.

Annual General Meeting

The Company concluded its Annual General Meeting on December 1, 2011, and the board of directors is pleased to announce the re-appointment of the following officers:

Warren McIntyre - President and Chief Executive Officer

Simon Anderson - Chief Financial Officer

Jeff Sheremeta - Corporate Secretary and Vice-President

The Company also announces the re-appointment of James Hutton (Chair), Lawrence Cyna and Geoff Balderson as its audit committee.

About Argentum Silver

Argentum holds the right to acquire a 100% interest in the Lachiguiri, Silacayoapan and Nino Perdido properties, all located in Oaxaca, Mexico, under an option agreement with Arco Resources Corp. Argentum also has an option to earn a 100% interest from Soltoro Ltd. in the Victoria and Coyote silver-gold projects located in Jalisco, Mexico. For further information, please go to www.argentumsilvercorp.com.

On behalf of the Board of Directors of Argentum Silver Corp.:

Warren McIntyre, President and Chief Executive Officer

Argentum Silver Corp.

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Argentum relies upon litigation protection for forward-looking statements.

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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