Oro Silver Resources Ltd.

Oro Silver Resources Ltd.

February 21, 2007 20:08 ET

Oro Silver Resources Completes $1,015,000 Brokered Private Placement-Shares Expected to Commence Trading on TSX Venture Exchange on February 22, 2007

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 21, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES.

Oro Silver Resources Ltd. ("Oro Silver") is pleased to announce that it has completed its brokered private placement (the "Financing") pursuant to which it issued 2,900,000 common shares at a price of $0.35 per share for gross proceeds of $1,015,000. Oro Silver has been advised by the TSX Venture Exchange that its common shares are expected to commence trading on the TSX Venture Exchange on February 22, 2007 under the symbol OSR.

Haywood Securities Inc. (the "Agent") acted as lead agent in the Financing. In consideration for the services provided by the Agent, Oro Silver paid to the Agent a $71,050 cash commission (7% commission), a $10,000 corporate finance fee and 290,000 Agent compensation options. Each Agent's compensation option entitles the holder thereof to purchase one common share of Oro Silver at a price of $0.35 per share for a period of 12 months from the closing of the Financing.

The securities under the Financing are subject to a hold period and may not be traded until June 22, 2007 except as permitted by Canadian securities legislation and the TSX Venture Exchange.

Oro Silver intends to use the proceeds of the Financing on Oro Silver's Mihuatlan and Guasima properties in Mexico, as well as for corporate development costs, acquisition/project generation costs and general working capital.

This press release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ON BEHALF OF THE BOARD OF DIRECTORS

Gregory Cox, President and Director

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. The Company 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.
    Gregory Cox
    President and Director
    (604) 646-1585
    (604) 642-2411 (FAX)
    Email: gcox@orosilver.com