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

Mexican Silver Mines Ltd.

July 09, 2007 14:50 ET

Mexican Silver Mines Ltd. Provides Project Updates

CALGARY, ALBERTA--(Marketwire - July 9, 2007) - Mexican Silver Mines Ltd. ("Mexican Silver") (TSX VENTURE:MSM)(FRANKFURT:MS2)(WKN:A0MSLE) provides the following update on its ongoing exploration at Ral, Providencia and Anillo de Fuego. These concessions are located halfway between Monterrey, Mexico and Laredo, Texas and are 100% held by Mexican Silver Mines Ltd.

Targeting activities are now completed at the La Blanca project on the Providencia concession. Sites for two diamond drill holes have been selected near the historic mine workings which will test the depth to the favorable carbonate stratigraphy where high grade surface silver-lead-zinc mineralization is present in a high angle structure within the Upsom Formation claystone. Carbonate replacement or 'manto-type' ores are targeted in the underlying limestone units. La Blanca will be the first target to be drill tested on the company's concessions.

Also on the Providencia concession, work is advancing at the Vallecillo district which contains seven historic silver mines and multiple prospects. Base maps, digital elevation models and satellite images are being generated to compile historic mine data and to add new geological information. A team of geologists are currently working in this 12 km2 district to determine the stratigraphic and structural controls to the historic ore zones and to project potential target zones for future trenching and drilling. Samples are being taken at the sites and will be shipped to ALS Chemex in Vancouver for analysis. It is anticipated that a trenching program will be conducted in mid July and drilling in the Vallecillo district will commence in late July to early August after the La Blanca drilling has been completed.

Exploration at the La Iguana mine, located on the Ral concession, continues with surface mapping. The initial surface sampling is nearing completion. Iguana is one of the largest and geologically most complex of the historic mining districts on any of the company's concessions. Numerous surface and subsurface intrusive bodies are present in the area and the mineralization has been found to be related to chemically favorable carbonate horizons in proximity to the central intrusive complex. Mapping and sampling are defining those contacts between the intrusives and the carbonates and the sampling is defining areas of anomalous mineralization not previously explored.

On the Anillo de Fuego concession, a broad anticlinal structure hosts numerous small historic silver-lead-zinc mines and occurrences. The mineralization is located along the crest of this structure over a distance of 10 kilometers. Very little information has been found regarding these old mines but the company's geologists are attempting to acquire information from local sources. The exploration effort at Anillo de Fuego has begun and is being directed at collecting geological, geochemical, and structural data from the historic mines. The evaluation of this concession is at the earliest stage of any of the targeting activities on the Company's concessions.

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. 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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

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