Orko Silver Corp.
TSX VENTURE : OK

Orko Silver Corp.

September 01, 2010 16:24 ET

Orko Silver Announces $7 Million Private Placement

TORONTO, ONTARIO--(Marketwire - Sept. 1, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Orko Silver Corp (the "Company") (TSX VENTURE:OK) is pleased to announce that it has entered into an agreement with GMP Securities L.P. as lead agent and a syndicate including Byron Securities Limited (collectively, the "Agents"), which have agreed to act as agents for and on behalf of the Company, on a "best efforts" agency basis, without underwriter liability, in connection with a proposed private placement of common shares (the "Common Shares") of the Company for aggregate gross proceeds of up to approximately $7,000,000. The definitive price per Common Share (the "Issue Price") will be decided based on negotiations between GMP and the Company and shall be determined in the context of the market. The Agents will also have the option, exercisable in whole or in part on the Closing Date to sell additional Common Shares at the Issue Price for additional gross proceeds of up to approximately $1,000,000.

The Company plans to use the net proceeds from the offering for general corporate purposes.

The offering is scheduled to close on or about September 21, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

FORWARD-LOOKING INFORMATION

Certain of the statements made and information contained herein, including the use of proceeds, is "forward-looking information" within the meaning of applicable Canadian securities legislation or "forward-looking statements" within the meaning the Securities Exchange Act of 1934 of the United States. Generally, these forward-looking statements or information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described under risk factors in the Company's management discussion and analysis. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. The forward-looking information contained herein is presently for the purpose of assisting investors in understanding the Company's plans and objectives and may not be appropriate for other purposes. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

Orko Silver Corp.

Gary Cope, President

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 release.

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