El Tigre Silver Corp.

El Tigre Silver Corp.

September 06, 2011 14:27 ET

El Tigre Silver Reports Gold Hill Sampling Results From Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2011) - El Tigre Silver Corp. (the "Company") ("El Tigre") (TSX VENTURE:ELS)(PINK SHEETS:EGRTF)(FRANKFURT:5RT) is pleased to announce the sampling results conducted on Gold Hill along the southern extension of the El Tigre silver-gold vein. El Tigre is conducting this work under its wholly owned subsidiary Pacemaker Silver Mining S.A. de C.V. at its El Tigre Project in Sonora, Mexico. The 430 square kilometer El Tigre silver-gold project is controlled 100% by 8 concessions.

El Tigre geologists have identified a potentially large open-pitable area of low grade gold mineralization along the southern extension of the El Tigre vein. This zone is associated with the original discovery of out-cropping high-grade gold mineralization by early prospectors which led to the development of the district in 1900. The first production from the district was from gold ores that averaged over one ounce per ton. As these ores were depleted, mining attention turned to the high-grade silver deposits that averaged 30 to 40 ounces silver per short ton and 0.1 to 0.15 ounces of gold per short ton. After 35 years of production from 1904 to 1939, the total district production is estimated at 75 million ounces of silver and 400,000 ounces of gold.

Gold Hill Rock Chip Sampling

Field work continues to target the 1,100 meter long by 70 to 80 meter wide zone in the hanging wall of the El Tigre vein structure at Gold Hill. Geologists have sampled rock out crops along this prospective zone. To date they have collected 215 samples, and all but one returned anomalous values of gold and/or silver. Of these, there were 73 that returned gold values greater than 0.1 g/mt Au and/or silver values greater than 30 g/mt Ag. The range of the assay values was from 0.009 to 3.5 g/mt Au and 1 to 412 g/mt Ag.

One of the large rock outcropping where sampling was done was above El Tigre's drill holes ET-31 and ET-32. These samples were cut from stock work veinlets and brecciated fractures within the hanging wall tuffs of the El Tigre vein. The following results are from this zone and are also considered representative of the overall set of assay results.

Rock Chip Surface Width Au Au Ag Ag
Sample # (meters) gram/mt oz/ton gram/mt oz/ton
ET-286 5 0.32 0.010 1.6 0.051
ET-287 5 0.59 0.019 1.6 0.051
ET-288 5 0.69 0.022 4.5 0.145
ET-289 5 1.37 0.044 20.3 0.653
ET-290 5 0.45 0.014 9.0 0.289
ET-291 5 0.97 0.031 10.6 0.341
ET-292 5 1.66 0.053 10.9 0.350

As the zone is further sampled over Gold Hill, then a potentially large low-grade gold-silver mineralized zone could be developed. This mineralization is hosted in oxidized rocks making it amenable to possible open pit mining methods using heap-leach extraction technology.

Stuart Ross, President of El Tigre, stated, "We are extremely pleased with our geologist's progress on our sampling effort. The new gold and silver assay results from samples collected away from the previously explored high-grade areas give us indications that the mineralization in the southern extension of the El Tigre silver-gold vein is more extensive than originally thought."

Gold Hill Drilling Results

The following drill results for ET 31 and ET-32 were reported in two previous press releases dated May 27, 2011 and August 23, 2011 and are repeated here to provide additional background and support to the rock chip sampling results, reported above. Basically, the surface rock chip results and drill hole assays support an exploration concept that a wide zone of low grade gold mineralization is found in the hanging wall rocks of the El Tigre vein. With additional drilling and surface sampling, El Tigre could possibly develop an open pitable zone of gold mineralization on the flanks of Gold Hill.

Gold Hill Target
From To Core Length True Width Ag Ag Au Au
(meters) (meters) gram/mt oz/ton gram/mt oz/ton
ET-31 16.50 43.00 19.30 12.36 11 0.32 0.486 0.014
46.00 49.00 3.00 1.92 13 0.38 0.528 0.015
50.50 53.50 3.00 1.92 15 0.44 0.446 0.013
55.00 59.50 4.50 2.80 18 0.52 0.410 0.012
64.00 67.00 3.00 1.92 3 0.09 0.252 0.007
68.50 70.00 1.50 0.96 1 0.03 0.270 0.008
74.50 80.50 6.00 3.84 6 0.17 0.904 0.026
82.00 83.50 1.50 0.96 2 0.06 0.213 0.006
85.00 102.50 17.50 11.24 129 3.76 0.861 0.025
104.00 111.00 7.00 4.49 295 8.60 0.274 0.008
ET-32 22.00 23.50 1.50 0.96 1 0.03 0.302 0.009
29.50 31.00 1.50 0.96 6 0.17 0.789 0.023
35.50 37.00 1.50 0.96 3 0.09 0.511 0.015
38.50 43.00 4.50 2.88 23 0.67 0.977 0.028
46.00 50.50 4.50 2.88 22 0.64 0.479 0.014
62.50 64.00 1.50 0.96 1 0.03 0.378 0.011
65.50 70.00 4.50 2.88 6 0.17 1.018 0.030
87.50 89.00 1.50 0.96 2 0.06 1.085 0.032
92.00 93.50 1.50 0.96 162 4.72 0.710 0.021
95.00 101.00 6.00 3.84 10 0.29 0.433 0.013
104.00 108.50 4.50 2.88 146 4.26 0.076 0.002

Planned Work Program

El Tigre believes that it has identified a low grade target of merit that may be amenable to future open pit mining. The company is planning to continue the surface rock chip sampling, and based on these results, drill multiple core holes along the trend of the zone to confirm continuity to depth. After these core samples are assayed, then early stage metallurgical test work will be conducted. Good results will warrant additional drilling followed by resource modeling to determine if the zone is large enough for economic mining.

Steve Craig, Vice President of Exploration, further commented "After recently joining El Tigre and spending some time on the El Tigre property I am very optimistic about the future development of the project. Some of our goals for this fall include initiation of a 5000 meter core drilling program, initiation of metallurgical test work on the drill core, and continuation of sampling along the entire length of the El Tigre vein system looking for other low grade mineralized zones."

Quality Assurance-Quality Control

The quality assurance-quality control (QA-QC) program of El Tigre and their 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 430 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. 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 a 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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