Mexican Silver Mines Ltd.
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FRANKFURT : MS2

Mexican Silver Mines Ltd.

September 06, 2007 12:02 ET

Mexican Silver Mines Ltd. Initiates Drilling on the Vallecillo Project

CALGARY, ALBERTA--(Marketwire - Sept. 6, 2007) - Mexican Silver Mines Ltd. ("Mexican Silver") (TSX VENTURE:MSM)(FRANKFURT:MS2)(WKN:A0MSLE) is pleased to announce that a core drilling exploration program has commenced on its project covering the entire historic Vallecillo silver-lead-zinc district.

The Vallecillo district, located halfway between Monterrey, Mexico and Laredo, Texas, has been the site of silver-lead mining activities dating back to 1766. Mexican Silver has acquired and evaluated all available historic mining information for the district and has completed a trenching program to further expose and define the carbonate stratigraphy of the area. Mineralization in the district is contained within high angle structures and mantos hosted in the Eagle Ford Formation which is a sequence of thin bedded limestones and shales. This district has never been drilled.

Mineralization within the Vallecillo district is located along a 2km long N45E striking structural trend and is defined by the San Pablo shaft, the Dolores shaft, the Cuatro Turbos shaft, the Vallecillo shaft, and the Santo Maria shaft. These major shafts are located from the northeast to the southwest respectively with additional smaller mines and other workings further defining this structural trend.

A mapping and sampling program was completed at Vallecillo consisting of reconciling the historic geologic and mining information with the actual mining infrastructure located on the ground throughout the district. Surveying of the existing mine shafts and projecting geological contacts added to the geologic database that was compiled. The objective of this effort was to identify the location, direction and inclination of the geologic structures hosting the main vein. Indications of manto-type silver-lead-zinc mineralization were observed and will constitute a major target type as exploration drilling progresses through the district.

The largest mine in the district, the Dolores Mine, has a known depth of at least 100 meters and will constitute the initial drill target. The overall first phase drill program for Vallecillo will consist of eight drill holes. Six of the holes will target the northeast part of the district where the largest historic mining tonnages were recorded. Two holes will be drilled in the southwest part of the district near the Santa Maria shaft which has the deepest recorded working in the western portion of the district. Access to some of the smaller mines in this area has provided evidence for manto-type mineralization.

The main Vallecillo structure has been traced for more than 1,600 m in length and will be drill tested beneath the deepest level of the historic workings to discover both depth extensions and lateral manto mineralization. Based on information contained in historical reports, it is inferred that this district has produced more than 250,000 tons with grades averaging 2,000 g/t silver, yielding a possible historical production of 15,000,000 oz of silver.

The current multi-hole drill program at the Vallecillo district is now being undertaken following the completion of the first phase drilling program at Mexican Silver Mines' La Blanca project. Three holes were completed at La Blanca with one of those holes, LB-3 encountering the targeted underlying Eagle Ford Formation at a depth of 300 meters. Minor structurally controlled base metal mineralization was observed in La Blanca holes 2 and 3. The La Blanca core is being logged and will be sent for geochemical analysis. Results from this analysis will guide the Company on the stage 2 program which may include geophysics and further drilling.

To learn more about Mexican Silver Mines, or to view video clips from a recent property visit, please visit: www.mexicansilvermines.com.

Mr. William Dynes, P. Geol. is the Qualified Person, as defined in NI 43-101, who has reviewed and verified the scientific and technical mining disclosure contained in this new release.

About Mexican Silver Mines

Mexican Silver Mines is a silver focused junior resource company developing three former silver producing properties in north-eastern Mexico.

ON BEHALF OF THE BOARD OF MEXICAN SILVER MINES LTD.

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

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