Oro Silver Resources Ltd.
TSX VENTURE : OSR

Oro Silver Resources Ltd.

June 18, 2008 09:30 ET

Oro Silver Reports 694.0 g/t Silver Over 12.3 Metres at Vetagrande Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2008) - Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR) reports final assay results for the channel sampling program recently completed at the Vetagrande mine. A total of 262 samples were collected in thirty-one channels across and along 6 sub-parallel veins mapped both on surface and underground, representing an area 1 kilometre long by 500 metres wide testing the principal vein zones.

Results from the sampling indicate a potential near surface resource and are consistent with historic grades (non-NI 43-101 compliant) reported by Industrias Penoles S.A. de C.V. in the 1980's for the Vetagrande mine (see Oro Silver's press release dated January 18, 2008). These results will guide the upcoming surface drill program at Vetagrande.

Seventeen channels were completed on surface exposures of the sub-parallel Vetagrande, Predilecta, Armados, San Jose, La Flor and Esperanza veins. The remaining fourteen channels were taken from production ramps near surface on the Vetagrande and La Flor veins (approximately 25 metres below surface). The channel samples are predominantly 1 metre in width and are collected across the veins. The veins strike to the northwest-southeast and dip steeply to the southwest (65 to 70 degrees). The Vetagrande mine consists of multiple sub-parallel silver and base metal-rich epithermal veins, characteristic of the Zacatecas mining district. Locations of some of the channels are illustrated in the attached plan-view figure, and can also be viewed on Oro Silver's website (www.orosilver.com).

Highlights:



- Significant assay results of select intervals across veins at the
Vetagrande mine include:
- Vetagrande vein - surface:
- (C-1): 336.7 g/t silver and 0.12% zinc over 6.0 metres
- (C-3): 694.0 g/t silver, 0.30 g/t gold and 1.06% zinc over 12.3
metres
- (C-4): 455.3 g/t silver, 0.25 g/t gold and 0.59% zinc over 2.0
metres
- Predilecta vein - surface: (C-10): 275.4 g/t silver and 0.56 g/t
gold over 2.0 metres
- Armados vein - surface: (C-12): 402.7 g/t silver over 3.9 metres
- Vetagrande vein - production ramp:
- (C-1): 313.7 g/t silver, 0.20 g/t gold and 0.57% zinc over 7.0
metres
- (C-4): 314.1 g/t silver and 0.13% zinc over 7.2 metres
- La Flor vein - production ramp: (C-9): 235.4 g/t silver, 1.47 g/t
gold, 3.12% zinc and 0.88% lead
over 4.0 metres
- Average of surface channels of fourteen mineralized veins: 237.7 g/t
silver, 0.30 g/t gold, 0.55% zinc, 0.16% lead, and 0.01% copper with an
average width of 4.3 metres

- Averages of production ramp channel samples taken across six mineralized
veins:
- Vetagrande vein: 153.8 g/t silver, 0.08 g/t gold, 0.24% zinc, 0.04%
lead, and 0.01% copper over an average width of 6.5
metres
- La Flor vein: 195.4 g/t silver, 1.49 g/t gold, 3.78% zinc, 1.76%
lead, and 0.06% copper over an average width of 6.8
metres


Additional assay results of selected surface and underground channel samples are provided in the following tables:



SURFACE

--------------------------------------------------------------------
Length Silver Gold Zinc Lead Copper
Channel (m) (g/t) (g/t) (%) (%) (%)
--------------------------------------------------------------------
Vetagrande C-1 15.00 193.9 0.09 0.11 0.02 0.01
--------------------------------------------------------------------
including 6.00 336.7 0.08 0.12 0.02 0.01
--------------------------------------------------------------------
Vetagrande C-3 12.30 694.0 0.30 1.06 0.08 0.01
--------------------------------------------------------------------
Vetagrande C-4 8.00 130.9 0.08 0.23 0.04 0.01
--------------------------------------------------------------------
including 2.00 455.3 0.25 0.59 0.04 0.01
--------------------------------------------------------------------
Vetagrande C-6 17.00 134.6 0.00 2.45 0.65 0.05
--------------------------------------------------------------------
including 14.00 156.1 1.14 2.92 0.78 0.05
--------------------------------------------------------------------
Predilecta C-10 5.30 127.7 0.23 0.04 0.01 0.01
--------------------------------------------------------------------
including 2.00 275.4 0.56 0.06 0.01 0.01
--------------------------------------------------------------------
Armados C-12 3.85 402.7 0.00 0.05 0.01 0.00
--------------------------------------------------------------------
All individual assay values are uncut, and entire channel length is
composited


UNDERGROUND

--------------------------------------------------------------------
Length Silver Gold Zinc Lead Copper
Channel (m) (g/t) (g/t) (%) (%) (%)
--------------------------------------------------------------------
Vetagrande C-1
(ramp) 7.00 313.7 0.20 0.57 0.08 0.02
--------------------------------------------------------------------
Vetagrande C-4
(ramp) 12.15 191.2 0.06 0.08 0.03 0.00
--------------------------------------------------------------------
including 7.15 314.1 0.08 0.13 0.05 0.03
--------------------------------------------------------------------
La Flor C-8
(ramp) 19.20 163.6 0.92 2.31 0.46 0.04
--------------------------------------------------------------------
including 11.00 156.9 1.31 3.55 0.67 0.05
--------------------------------------------------------------------
La Flor C-9
(ramp) 4.00 235.4 1.47 3.12 0.88 0.06
--------------------------------------------------------------------
including 2.60 358.5 2.25 4.78 6.35 0.08
--------------------------------------------------------------------
All individual assay values are uncut, and entire channel length is
composited


Oro Silver's exploration program is supervised by Mr. Herve Thiboutot, P. Eng., Chief Executive Officer and Vice President of Exploration, and by Jorge Ortega, MSc., Sr. Project Manager. Mr. Thiboutot and Mr. Ortega are both qualified persons as defined by National Instrument 43-101, and have reviewed the content of this press release.

Quality Control

Oro Silver maintains a strict quality control program. All samples were submitted directly to Inspectorate de Mexico, S.A de C.V., for preparation in Mexico, and analysis in Reno, Nevada. Analysis was conducted on 1 assay ton samples, with standards and blanks inserted every 30 samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 3 g/t gold. Analysis of silver was by atomic absorption, with a gravimetric finish on samples exceeding 200 g/t silver. Samples exceeding 10,000 part per million for copper, lead, or zinc were analyzed by a gravimetric finish. Triple acid digestion was used on all samples.

About Oro Silver

Oro Silver 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 and optimizing milling processes at its El Compas and Vetagrande mine projects in Zacatecas, Mexico, 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,

Herve Thiboutot, Chief Executive Officer

Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, resource estimation, development and production activities and future expenditures. 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 to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities and the timing and amount of expenditures.

To see the map accompanying this release please click the following URL: http://media3.marketwire.com/docs/ORO%20SILVER%20MAP.pdf

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

Contact Information

  • Oro Silver Resources Ltd.
    Herve Thiboutot
    Chief Executive Officer
    (604) 646-1588
    (604) 642-2411 (FAX)
    Website: www.orosilver.com