El Tigre Silver Corp.

El Tigre Silver Corp.

May 18, 2011 13:47 ET

El Tigre Begins Exploration in the Brown's Shaft Area of the El Tigre Vein at Its Sonora, Mexico Property

Encounters 0.34 metres of 998 grams silver per metric ton, 0.34 metres of 1355 grams silver per metric ton and 1.80 metres of 1.320 grams gold per metric ton (true width).

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2011) - El Tigre Silver Corp. (the "Company") (TSX VENTURE:ELS)(PINK SHEETS:EGRTF)(FRANKFURT:5RT) is pleased to announce diamond drill and assay results from the Brown's Shaft Exploration Target, its third of four exploration targets on the Company's 43,000 hectare El Tigre mining concessions in Sonora, Mexico (the "El Tigre Property").

The Brown's Shaft target is the third of El Tigre's four exploration targets drilled in the first quarter of 2011. As shown on historic maps and sections, the main veins enter the target area as discrete planar north–south structures but are segmented and broken as they approach the intersection of the main veins.

The Brown's Shaft target is centered 900 metres south of the El Tigre camp and is defined by a 100 x 300 metre area of broken, fractured and quartz veined ground at the structural intersection of the El Tigre, Sietz Kelly and Sooy veins. Vertically the target extends 350 metres from the 2 Level to the 13 Level of the El Tigre mine. Trenching is underway on surface to explore the possibility of the target day lighting. The accompanying maps and sections (http://www.eltigresilvercorp.com/_resources/maps/browns_shaft/maps.pdf) show its location and describe the target.

Historic assays and mine plans show a crosscut on Level 7 that cuts the hanging wall of the El Tigre vein and assayed 188 grams silver per metric ton (5.5 ounce silver per ton) for 50 metres. Mineralization suggests the possibility of disseminated low-grade silver mineralization in the broken and quartz-veined ground at the intersection of the veins. The crosscut presents a drill target and was the starting point for Brown's Shaft target exploration.

Drill Holes ET-29 and ET-30

Drill Holes ET-29 and ET-30 were drilled to explore the Brown's Shaft target area. ET-29 was planned to twin assays encountered in the Level 7 crosscut for a first look at the broken, fractured and quartz veined ground at the structural intersection of the El Tigre, Sietz Kelly and Sooy Veins. Rock outcrops and rugged topography prevented drilling the hole parallel to the Level 7 Crosscut. The hole was collared out of section and advanced at a 65 angle into the area of the crosscut to take a first look at the target.

From 199 to 203 metres ET-29 encountered two separate intercepts each of 0.34 metres true width with 998 grams silver per metric ton and 1355 grams silver per metric ton respectively. Both carried 0.599 and 0.567 grams gold per metric ton respectively. Details of the assay intercepts encountered in ET-29 and ET-30 are tabulated in http://eltigresilvercorp.com/_resources/pdf/et29_et30_assay_results.pdf

A contoured long section of silver values from mine maps along the El Tigre vein suggest both the productive horizon within the El Tigre vein and favorable cliff formation are offset 250 metres to the south entering the Brown's Shaft Target Area. Drill Hole ET-30 was situated north of the Brown's Shaft target area to locate the veins as they entered broken and faulted ground approaching the vein intersection as well as to identify major structure that faults off the El Tigre mineralized horizon (http://www.eltigresilvercorp.com/_resources/maps/browns_shaft/maps.pdf).

ET-30 encountered 0.86 metres true width from 286.7 to 288.5 metres of 651 grams silver per metric ton and 1.26 grams gold per metric ton where the hole penetrated the El Tigre vein (http://www.eltigresilvercorp.com/_resources/maps/browns_shaft/maps.pdf).

Quality Assurance – Quality Control

Methods of sample collection and analysis as well as quality assurance-quality control procedures are described in the attached document: http://www.eltigresilvercorp.com/_resources/pdf/sample_collection_analysis2.pdf

The technical content of this news release has been approved by Eugene K. Schmidt, RPG and Vice President of Exploration for El Tigre, a Qualified Person as defined in NI 43-101.

About The Company

The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions totaling 43,098 hectares located in north-eastern Sonora, Mexico (the "El Tigre Property"). The El Tigre Silver Mine was historically a significant producer of high grade silver in Mexico, having produced an estimated 75 million ounces of silver at an average grade of 40 ounces per ton. The Company has completed a 2313 metre drill program and is expecting additional assay results shortly. Diamond Drilling is exploring low-grade silver-gold mineralization that is believed to extend for approximately 2.5 kilometers along the strike of the vein system. A technical report has been prepared for the El Tigre Property and can be found on the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.eltigresilvercorp.com.

Cautionary Statements:

This news release contains forward-looking statements concerning the El Tigre silver property. 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. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company 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 this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Historical resources – a qualified person has not done sufficient work to classify any historical estimate at El Tigre as current mineral resources. The Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

Potential – the potential quality and grade is conceptual in nature. There has been insufficient exploration at the El Tigre silver property to define a mineral resource. It is uncertain if further exploration will result in discovery of a mineral resource.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the 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 press release.

Contact Information

  • El Tigre Silver Corp.
    Stuart Ross
    President and CEO
    (780) 977-7187

    El Tigre Silver Corp.
    Eugene K. Schmidt
    Vice President of Exploration
    011-521 (662) 233-7445