El Tigre Silver Corp.
TSX VENTURE : ELS
PINK SHEETS : EGRTF
FRANKFURT : 5RT

El Tigre Silver Corp.

May 10, 2011 09:52 ET

El Tigre Drills Sietz Kelly and El Tigre Veins at Its Sonora, Mexico Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 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 its third exploration target on the Company's 43,000 hectare El Tigre mining concessions in Sonora, Mexico (the "El Tigre Property").

Stuart Ross, El Tigre's President and CEO, stated: "The results of the drilling on Mule Mountain are a first attempt in an area in which little is known. ET -28 passed 40 meters above the target. However, even so, the hole encountered interesting silver gold values where it cut the El Tigre Vein. As we continue to collect data from the bottom of ET-25, ET-29, and ET-30 we will be able to further understand the significance of what we are encountering."

Assays were received from Diamond Drill Hole ET-28 that advanced North 75 East inclined 45 degrees East to intersect the Level 7 crosscut at its intersection with the Seitz Kelly vein. The Level 7 Crosscut intersected 35 metres of approximately 165 grams silver per metric ton (4.5 ounces silver per ton) and 12 grams gold per metric ton (0.350 ounces gold per ton) of which 5 meters assayed 720 grams silver per metric ton (21 ounces silver per ton) in historic mine data. The crosscut defines the second of four exploration targets drilled by the Company during February and March along 2.5 kilometers of the El Tigre Vein system (see http://www.eltigresilvercorp.com/_resources/pdf/El_Tigre_Drill_Plan_II.pdf).

Little is known about this target apart from historic assays from the El Tigre Combination Gold Mining Company shown above and collected prior to 1935. The mine plan http://www.eltigresilvercorp.com/_resources/pdf/ET-28_on_7_Level.pdf shows the Crosscut Drill Hole ET-28 and additional vein targets projected to the 7 Level.

Level 7 was a drain and haulage level with no exploration drilling or drifting and was parallel and away from the known veins. Maps and monthly reports show ore shoots stoped out in overlying levels were not drilled or drifted on this Level. The Level 7 Plan shows these mineralized zones projected to 7 Level as future exploration targets.

Drill Hole ET-28 is located on Mule Mountain 300 meters south of Espuelas Canyon and advanced 401.55 meters through the El Tigre vein from 185 to 225 meters to encounter the Sietz Kelly quartz vein from 352.15 to 368 meters (http://www.eltigresilvercorp.com/_resources/pdf/Section_ET-28_Mule_Mountain.pdf). A series of faults, shear zones, veins, and breccias in the El Tigre Vein Zone show the following assays:

From
(meters)
To
(meters)
Core
Length
(meters)
True
Length
(meters)
Vein
Structure
Ag
ppm
Au
ppm
Cu
ppm
Pb
ppm
Zn
ppm
205.00210.005.003.54Fault-vein660.4021287361582
215.00216.001.000.71Fault-Vein1383.39018013901900
221.60226.004.403.11Quartz VnBxBx1650.70261626925879
229.00233.004.002.84QtzVnltsBxBx670.106178643425

ET-28 intersected the Sietz Kelly Vein approximately 40 meters above the Level 7 target. The hole encountered a massive bull quartz vein from 343 to 356 meters and a streak of base metal mineralization 0.71 meters wide from 375 to 375 meters assaying 603 grams silver, 0.058 grams gold, 1430 ppm Cu, 20 ppm Pb and 110 ppm Zn. Results are illustrated on http://www.eltigresilvercorp.com/_resources/pdf/Section_ET-28_Mule_Mountain.pdf

Assay intercepts are tabulated in detail at: http://www.eltigresilvercorp.com/_resources/pdf/Assay_Intercepts_ET-28_05_09.pdf

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_Analysis_QA-QC_05_09.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 meter 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
    www.eltigresilvercorp.com