Oro Silver Resources Ltd.
TSX VENTURE : OSR

Oro Silver Resources Ltd.

November 23, 2007 15:56 ET

Oro Silver Announces Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2007) - Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR) is pleased to announce that it is arranging a non-brokered private placement of up to 3,300,000 Units at a price of $0.90 per Unit for proceeds of $2,970,000, subject to regulatory approval. Each Unit consists of one common share and one-half of one common share purchase warrant, each whole warrant entitling the holder to purchase one additional common share of Oro Silver at a price of $1.25 per share for the first year and $1.50 per share for the second year after the date of issuance. The Units issued are subject to a four-month hold period from the closing date. Finder's fees may be payable in connection with certain subscriptions under the financing.

Oro Silver intends to use the proceeds of the private placement to continue property acquisitions in Zacatecas, Mexico, to accelerate exploration at its properties, and for general corporate purposes.

About Oro Silver

Oro Silver Resources Ltd. is a silver exploration company pursuing early and advanced stage silver-based opportunities primarily in the western hemisphere. The company is focused on (i) developing resources at its El Compas project, and (ii) completing additional strategic acquisitions. Oro Silver's strategy is 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.

On behalf of the board of directors,

Gregory M. Cox, President and CEO

Some statements in this release contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, expenditures, transactions and financings. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, risks related to actual results of exploration activities, the timing and amount of expenditures and the completion of transactions and financings.

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) 646-1580
    (604) 642-2411 (FAX)