El Tigre Silver Corp.

El Tigre Silver Corp.

November 11, 2011 09:00 ET

El Tigre Silver Announces First Silver Assays for the Tailings Recovery Project in Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2011) - El Tigre Silver Corp. (the "Company" or "El Tigre") (TSX VENTURE:ELS)(PINK SHEETS:EGRTF)(OTCQX:EGRTF)(FRANKFURT:5RT) is pleased to announce it has received the first round of silver assays from its tailings project. The tailings are located on the concessions that are part of El Tigre's 431 square kilometer concession ownership in Sonora, Mexico.

The silver assays from 43 samples returned an average of 87.7 grams per metric ton (or 2.6 ounces per short ton). The range of the assays were from a low of 54 grams to a high of 157 grams. Sampling was done by channeling a total of 410 meters down the sides of the tailings pile at 25 meter spacings and from evenly spaced 1.5 meter deep holes from the top of the piles. The material that was sampled consisted of very fine crushed rock that has the consistency of coarse flour.

The sampling can be further divided into three color zones which correspond to different levels of oxidation from the original ores. These color zones from the bottom to the top of the pile are red (fully oxidized), grey (partially oxidized), and yellow (sulfide). The following table reports the results from each zone.

Average Silver values Red Layer Grey Layer Yellow Layer
Gram/tonne 103.6 81 87.7
Ounces/short ton 3.0 2.4 2.6

El Tigre is currently conducting a full examination of the tailings prior to proceeding with a production decision. Drilling of the pile is scheduled to begin within the week and the results of this work will provide assays inside the pile, metallurgical test samples and thicknesses for tonnage calculation. Once this work is completed, then a resource model will be completed followed by an engineering design for a proposed leaching operation.

Stuart Ross, El Tigre's President and CEO states, "We are very pleased with the assay results as they confirm the past work and confirm our decision to proceed with the further work necessary for early production at El Tigre."

El Tigre is also investigating a unique vat leach system that is being successfully operated by Dia Bras Explorations Inc. in the state of Chihuahua. This system requires the construction of several large 12 by 24 metre concrete containment areas (vats) where material is placed, leached and removed over a 5 to 7 day period. The metal rich solutions are then passed through a Merrill-Crowe precipitation circuit and silver and gold is recovered. El Tigre is retaining the same service providers as Dia Bras Explorations Inc. to assist in the evaluation, design and construction of the process facility.

It has been historically reported that the El Tigre Mine operated between 1903 and 1938 and recovered over 75 million ounces of silver at an average grade of 40 ounces per ton. The tailings are a result of that 35 years of production at the original mine. The Company's evaluation program will systematically drill and sample the tailings to confirm the historic estimates of the tonnage and the grade of the tailings.

Quality Assurance-Quality Control

The quality assurance-quality control (QA-QC) program of El Tigre and its contractors is as follows: Samples are collected and handled only by authorized company personnel utilizing the appropriate methods. Samples are bagged and labeled with unique sample numbers and sample data is recorded on individual sample tags. These are then transported by El Tigre personnel to the El Tigre project core shed where they locked up until shipment. A shipment from the site consists of 60-100 samples. El Tigre personnel transport the samples bagged two to four to a bag and sealed to the company's Hermosillo office. ALS Global authorized personnel load and transport the samples from El Tigre's Hermosillo office to the ALS Hermosillo sample preparation facility. The samples are assayed from a 250 gram sample split using a HF-HNO3-HClO4 acid digestion, HCl leach and an ICP-AES ICP Scan for 33 elements. Silver over limit is fire assayed. Gold is fire assayed by 30 gram fire assay - AA analysis. Values over 10 ppm gold are fire assayed with gravimetric finish. Pulps and rejects are returned to El Tigre's office and stored.

"ALS Minerals Laboratories in North America is registered to ISO 9001:2000 for the provision of assay and geochemical analytical services" by QMI Quality Registrars. In addition, ALS Minerals' main North American laboratory in North Vancouver, BC, Canada, is accredited by the Standards Council of Canada (SCC) for specific tests listed in our Scope of Accreditation No. 579 which is available at http://palcan.scc.ca/specs/pdf/677_e.pdf. ALS Global Laboratories quality assurance and assay procedures are described on their website at http://www.alsglobal.com/qa.aspx.

The technical content of this news release has been approved by Steven D. Craig, CPG and Vice President of Exploration for El Tigre, a Qualified Person as defined in NI 43-101.

About El Tigre Silver Corp.:

The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions comprising 431 square kilometres located in north-eastern Sonora, Mexico (the "El Tigre Property"). 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 and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. 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.

This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the benefit or account of, any U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

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