Silvermex Resources Ltd.

Silvermex Resources Ltd.

March 16, 2007 15:28 ET

Silvermex Resources Ltd.: NI 43-101 Technical Report & Resource Estimate the Penasco Quemado Property, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2007) - Silvermex Resources Ltd. (TSX VENTURE:SMR) has filed an independent Technical Report to support the Mineral Resource estimate disclosed by the Company on January 30, 2007. The Report was prepared by William J. Lewis, B.Sc., P.Geo., of Micon International Limited of Toronto, and James A. McCrea, B.Sc., P.Geo., of Vancouver, B.C., both independent Qualified Persons.

As reported in the January 30, 2007 release the estimate was prepared using current CIM definitions for mineral resources as required by National Instrument 43-101. The mineral resource was prepared using a cut-off grade of 30 g/t silver with high grade samples capped at 700 g/t silver.

Ore Silver
(million Grade (thousand
Resource Classification tonnes) (g/t Ag) troy oz)
Measured Mineral Resource 0.123 151.9 0.599
Indicated Mineral Resource 2.442 115.0 9.032
Total Measured + Indicated 2.565 116.8 9.631
Inferred Mineral Resource 0.001 41.4 0.001

The mineral resource estimate is based on a total of 3,442 meters of core, rotary and reverse circulation drilling from 45 holes completed by both Silvermex and previous operators.

In addition to making several recommendations for moving the project forwards to pre-feasibility the Report concludes that Penasco Quemado should be regarded as a mid-stage exploration project which may have a significant economic potential, should the mineralization prove to be more extensive than is presently indicated.

The Report is available on SEDAR and at Copies of the Report are also available from the Company's offices in Vancouver, B.C. and Hermosillo, Mexico.

Qualified Person

Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A,. Senior Vice-President and CFO of Silvermex Resources Ltd., is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Silvermex Resources Ltd. employees and contractors.

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 out 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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