Silvermex Resources Ltd.

Silvermex Resources Ltd.

April 05, 2007 11:02 ET

Silvermex Resources Ltd. Closes Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 5, 2007) - Silvermex Resources Ltd. (the "Company") (TSX VENTURE:SMR) announces that further to its news release dated March 2, 2007, it has closed its brokered private placement of 2,000,000 units at a price of $0.80 per Unit (the "Unit") for total gross proceeds of $1,600,000 arranged through Canaccord Capital Corporation (the "Agent"). Each Unit consists of one common share and one-half non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $1.00 for a period expiring 24 months from closing.

The Agent's compensation consisted of 160,000 units, being equal to 8% of the units sold (the units have the same terms as the private placement units), a corporate finance fee of 30,000 units (the units have the same terms as the private placement units) and 160,000 agent's warrants, being equal to 8% of the units sold. The warrants are exercisable at a price of $0.80 per share for a period of two years.

The securities issued pursuant to the private placement and the Agent's compensation are subject to restrictive legends expiring on August 5, 2007.

The proceeds will be used principally to fund resource expansion on the Penasco Quemado property and geophysics and drilling on the San Cerro de Plata property and for general corporate purposes. The proceeds may also be used to fund the acquisition of new projects.

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.

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

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