Prospero Silver Mobilizes Diamond Drill Rig at Campana Project, Mexico

Prospero Silver Corp. announced today that a diamond drilling rig has been mobilized to site and that drilling is underway at the 100% owned Campana project in Central Durango State, Mexico.

As reported in the News Release of August 29, 2011, drilling is focussed to the east of historic drilling which was conducted on the northwest fringe of a 1400m x 900m geophysical anomaly defined by both an airborne Z-TEM survey (z-Axis Electromagnetic System) and an IP (Induced Polarization) ground survey.

Chargeability and resistivity anomalies indicate that 75% of the anomaly remains unexplored to the east of historic drill holes where disseminated gold-bearing polymetallic mineralization occurs over lengths of up to 330m. Highlights of intersections of disseminated mineralization from the historic drilling include hole CAM-08 with 165 m of 0.16 g/t Au, 15 g/t Ag; and hole CAM-12 averaging 0.223 g/t Au, 13 g/t Ag over 60.8 m.

The drill program is designed to explore (a) disseminated polymetallic mineralization and (b) the character of high grade veins in the East Target Zone.