Mexican Silver Mines Ltd.
TSX VENTURE : MSM
FRANKFURT : MS2

Mexican Silver Mines Ltd.

May 26, 2009 09:30 ET

Mexican Silver Mines Ltd. to Hold a Conference Call: Corporate Update and Background on Rio Alto Mining Limited

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2009) - Mexican Silver Mines Ltd. ("Mexican Silver") (TSX VENTURE:MSM)(FRANKFURT:MS2)(WKN:A0MSLE) is pleased to announce that it plans to hold a conference call at 8:00am (PST) on Thursday, May 28th, to provide a corporate update on the Company's proposed take over of Rio Alto Mining as announced on March 10, 2009 and background information on the La Arena Project optioned by Rio Alto as described in the Company's press release dated April 6, 2009. Please see below for instructions on how to participate in the conference call.

A PowerPoint presentation will be presented during the conference call. The PowerPoint presentation will be available to be viewed and downloaded from the Company's website at www.mexicansilvermines.com.

Mexican Silver Waived Due Diligence Conditions

The company is pleased to announce that it has completed its due diligence on Rio Alto Mining Limited and the La Arena Project in Peru. The results of the due diligence were positive and as such the Company has provided a waiver on the condition outlined in the Letter of Intent. The Company is now working with Rio Alto to complete the private placement by Rio Alto of a minimum of $3 million and to finalize a definitive agreement between the Company and Rio Alto.

Mexican Silver filed NI 43-101 Report on SEDAR

An NI 43-101 Technical Report by Coffey Mining has now been filed by Mexican Silver on SEDAR under the Company's SEDAR profile.

INSTRUCTIONS FOR CONFERENCE CALL

8:00 am PST

Thursday, May 28, 2009

There are two options for listening to the scheduled conference call:

Webcast

To listen to the conference call via the web, please visit www.mexicansilvermines.com. A link to the webcast will be available on the Company's homepage along with the PowerPoint presentation.

Telephone

To listen to the conference call by telephone, or to submit a question to either Feisal Somji, President & CEO of Mexican Silver Mines or Alex Black, President & CEO of Rio Alto, please dial:

1-866-223-7781 OR 1-416-340-8018

The webcast will be archived on the Company's website following the presentation.

About Mexican Silver

Mexican Silver Mines is a silver focused junior resource company developing three former silver producing properties in northeastern Mexico. To learn more about Mexican Silver Mines, please visit: www.mexicansilvermines.com.

ON BEHALF OF THE BOARD OF MEXICAN SILVER MINES LTD.

Feisal Somji, B.Sc., MBA, President and Chief Executive Officer

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

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