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

El Tigre Silver Corp.

November 29, 2010 18:18 ET

El Tigre Silver Corp. Increases Size of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

El Tigre Silver Corp. (TSX VENTURE:ELS)(PINK SHEETS:EGRTF)(FRANKFURT:5RT) ("El Tigre" or the "Company") is pleased to announce that, further to its November 10, 2010 news release, the Company has increased the size of its non-brokered private placement (the "Private Placement") from up to 8,000,000 units of the Company ("Units") to up to 10,000,000 Units, for total gross proceeds of up to $2,500,000. All other terms of the Private Placement remain as previously announced.

The proceeds will be used to fund the second phase of the work program on the Company's El Tigre property, which will include a drill program to start in January 2011 and for general working capital purposes. This work program will consist of 8,000 metres of core drilling plus operating costs of a camp and further surface sampling, mapping and exploration of other known targets.

This private placement is subject to regulatory approval, and the common shares, together with the shares issued on the exercise of the Warrants, will be restricted from trading for a period of four months from the date of issuance of the Units, in compliance with TSX Venture Exchange policies and securities legislation.

About El Tigre

The Company, through it subsidiaries, holds the rights to nine mineral concessions 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.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN, THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • El Tigre Silver Corp.
    Stuart Ross
    President and CEO
    (780) 977-7187
    or
    El Tigre Silver Corp.
    Eugene K. Schmidt
    Vice President of Exploration
    011-521-662-233-7445
    www.eltigresilvercorp.com