Oro Silver Resources Ltd.
TSX VENTURE : OSR

Oro Silver Resources Ltd.

September 19, 2007 09:00 ET

Oro Silver Acquires Ana Camila Property in Zacatecas, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2007) - Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR) has signed an option-to-purchase agreement for the Ana Camila property in Zacatecas, Mexico. The Ana Camila property comprises five concessions in two separate blocks, totaling 320 hectares near the El Compas mine. Oro Silver has a purchase agreement to acquire the El Compas mine, which has been producing silver and gold for the last four years (see press release dated June 5, 2007). This acquisition is integral to Oro Silver's strategy for growth in the Zacatecas District.

Highlights:

- Acquisition extends strike of El Compas silver/gold vein system by 500 meters

- Successful due diligence returned gold anomalies in surface, grab, and chip channel samples

- 100% ownership for staged cash payment totaling US$300,000 over 2 years

Results of a due diligence program performed by Oro Silver include a grab sample grading 6.10 g/t Au, and a 1-metre surface chip channel sample grading 3.84 g/t Au and 42.9 g/t Ag. Additionally, 34 surface samples were collected and assayed, with 14 returning values above 200ppb Au, including five exceeding 1 g/t Au.

"The Ana Camila agreement fits perfectly with our growth strategy in Zacatecas. The concessions cover 500 meters of strike extension of the high-grade El Compas vein system that we already have under option," stated Greg Cox, President and CEO of Oro Silver.

Under the agreement, which is subject to approval by the TSX Venture Exchange, Oro Silver has the option to purchase 100% ownership in the Ana Camila concessions for US$300,000. Oro Silver paid US$50,000 upon signing of the formal agreement. Additional payments totaling US$250,000 are staged over the next 2 years in order to complete the purchase, with Oro Silver earning a 51% equity interest in the property after completing payments totaling US$150,000.

Oro Silver Resources maintains a strict quality control program. The due diligence and sampling were supervised by Mr. Herve Thiboutot, P. Eng. and Vice-President of Exploration and Development for Oro Silver, who is the qualified person as defined by National Instrument 43-101. Mr. Thiboutot has reviewed the content of this press release. Samples were submitted directly to Inspectorate de Mexico, S.A de C.V. for preparation in Durango, Mexico, and analysis in Reno, Nevada. Analysis was conducted on 2 assay ton samples, with one standard and one blank sample inserted every 30 samples. Analysis of Au and Ag was by fire assay, with a gravimetric finish on samples exceeding 3 g/t Au, or 200 g/t Ag.

Oro Silver plans to become a mid-tier silver producer through an aggressive acquisition and development plan focused on advanced-stage projects with known silver resources that exhibit potential for expansion. While becoming a major player in the Zacatecas silver district, Oro Silver will continue its growth through exploring and developing primary silver deposits in Mexico and North America.

On behalf of the board of directors,

Gregory M. Cox, President and CEO

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Oro Silver disclaims any intention or obligation to revise or update such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Oro Silver Resources Ltd.
    Matthew Chandler
    Corporate Communications Manager
    (604) 646-1586
    (604) 642-2411 (FAX)