Prospero Reports Highly Anomalous Gold in Rock-Chip Sampling at El Petate Project

Prospero Silver Corp. is pleased to announce the results of 360 rock chip samples obtained from the Petate West and Petate East target zones of its 6,000 hectare El Petate project.

The Apartadero target is part of the Petate West zone, measuring 1.3 km long and up to 200 meters wide and has shown the most anomalous gold geochemistry to date in jasperoid outcrops and float. Mapping of the Petate West zone shows northwest and east-west trending silicified zones associated with andesitic dikes with the same orientation (Figure 1). Mapping and sampling have to date identified the La Escoba, Apartadero and and Tecolotes silicified reefs. Other as yet unmapped reefs are anticipated west of the Apartadero reef and in the southern extension of the Petate West zone (see attached maps). The property boundary lies outside the area of the figures.

The highlights of the Apartadero geochemistry include:

• Assays in the range of 1 to 6.62 ppm Au occur along a length of 500 meters in the southeast extension of the Apartadero target. The geochemical values are presented over subdued geology.
• These expand to a length of 1100 meters for assays above 0.1 ppm Au (see Figure 2);
• The silver geochemistry in the Apartadero trend exhibits anomalous values between 1 to 6.4 ppm (Figure 3).
• Multi-elemental pathfinder geochemistry revealed elevated mercury, arsenic and antimony anomalies associated with the precious metals.
  1. Mercury with values between 10 ppm to >100 ppm is closely associated with the higher gold geochemistry (Figure 4);
  2. Antimony geochemistry also closely follows gold values, with the higher values in the 100-400 ppm range concentrated in the southeast sector of the Apartadero target area;
  3. Similarly, arsenic values above 100 ppm follow the gold anomalies, and exhibit a hot spot in the Apartadero area, where the highs mostly range from 100 ppm to 400 ppm;
• Other elements such as barium are also high in the Apartadero area with highs ranging from 1000 ppm to 10,000 ppm.

While the Apartadero geochemistry is highly anomalous in gold in its southeast extension, the data to date from the Petate East geochemistry is showing proportionately higher silver geochemistry as follows:

• The Petate # 1, #2, and # 3 targets, in the eastern zone of the project area, exhibit higher rock-chip silver geochemistry with assays commonly above 50 ppm (Figure 3);
• Higher iron and manganese geochemistry is associated with the Petate East targets with anomalous values in the single to double digit percent range.

Other Target areas.

La Escoba areas in the northwest portion of the district is divided into Escoba North, Escoba Central, and Escoba south silicified trends. These are characterized by more subtle precious metal and pathfinder-element anomalies, with gold highs in the 0.1 to 1 ppm range, silver highs under 5 ppm, and mercury highs under 5 ppm.

The Tecolotes area in the southwest sector of the district also exhibits significant highs in Au-Ag-Sb-Hg-As (Figures 2 to 4).

Samples obtained from the reconnaissance sampling program represent chip-grab, chip-channel samples, as well continuous channel samples, either in outcrops or in jasperoid boulders and fragments within float. Most samples were obtained along lengths of 1.0 to 1.5 meters.

Next-step activities for the Petate project:

The Apartadero area (in the Petate West zone), and the Petate East areas are prime targets which require a trenching program in zones where the best precious metal anomalies occur, particularly along the northeastern margin of the Apartadero trend which hosts discontinuous outcrops of dikes. Channel sampling in the trenches should provide a better understanding of the length, width and grade of the mineralized zone(s).

Additional reconnaissance mapping and sampling is required west of the Apartadero area and in the southwestern sector of the district.

The Tecolotes area is believed to host several silicified reefs yet to be mapped and sampled in more detail.

The geology of the project is characterized by an anticlinorium/dome of the Mesozoic fold belt of the Sierra Madre Oriental. All mineral occurrences are hosted in the El Abra limestone of Lower Cretaceous age. A north-south trending remnant of the Upper Cretaceous clastics of the Mendez Formation is as yet un-eroded in a recumbent syncline between the Petate West and Petate East zones (see Figure 1). Scattered outliers of overlying andesites of the Tertiary Pachuca Group do not host alteration or hydro-thermalism, thus suggesting the hydrothermal system is more akin to the age of the Zimapan skarn/replacement type deposit (~42 Ma), than the age of the Pachuca vein deposit (~23 Ma).