Prospero Silver Reports 487 Soil Sample Results in El Petate Project

Prospero Silver Corp. ("Prospero" or the "Company") is pleased to announce the results of a further 487 soil samples obtained in the Petate East sector of it's 6,000 hectare El Petate project. The grid is in addition to the rock chip assays from the previously reported Petate West (Apartadero) zone and was carried out over the Petate #1, #2, #3, and #4 target areas over a total length of 2 km as shown in Figures 1 to 4. The eastern sector demonstrates proportionately high silver values than Apartadero.

As described in the news releases of October 18, 2012, and January 21, 2013, outcrops and float of jasperoid and gossan have been extensively mapped as shown in the attached figures. The jasperoids and gossans exhibit a predominant northwest structural control and dips to the southwest. The highlights of the soil geochemistry include:

• Silver anomalies greater than 5 ppm and up to 52.3 ppm are prominent in the Petate # 1 and #2 target areas. In both areas the anomalies are open to the west particularly in the western (hanging wall side) of the Petate #2 target where the highest silver values (52.3 ppm, 37.4 ppm, and 19.9 ppm) were obtained (see Figure 1).
• The gold geochemistry is highest in Petate #3 target (up to 0.334 ppm) particularly where outcrops of gossan are exposed along 50 meters in a creek (Figure 2). A subdued gold anomaly extends an additional 400 meters to the northwest which is also reflected in the mercury (Figure 3) and iron geochemistry (Figure 4).
• Iron anomalies are skewed towards the northern Petate #3 target where values are commonly greater than 3.5%, in contrast to Petate #1 and #2 targets which generally revealed values less than 3%.
• Antimony and arsenic are also highest towards the Petate #3 target with antimony values commonly in the 30-68 ppm range and arsenic values in the 100-1795 ppm range.
• Barium and manganese are proportionately higher in the Petate #1 and #2 targets:
  1. Barium is in the 400-1860 ppm range, and
  2. Manganese is in the 4,000 to 16,000 ppm range.
• Nearly all elements are low in the area in between el Petate #2 and #3 targets where outcrops and suboutcrops of an andesite intrusive is mapped (see Figures 1, 2 and 3).

The following next-step activities are now considered for the Petate East zone:

• Extend the soil grid program west of the Petate # 1 and Petate # 2 targets to close off the silver anomalies, which are open in that direction.
• Carry out trenching in the best anomalies to better define the location, size and geochemistry of the targets.

In summary, the soil grid survey has proven valuable in showing that the Petate #3 target area extends further to the northwest, and also indicates the Petate #1 and Petate #2 anomalies are open to the west.

Tawn Albinson, M.Sc., President of the Company, is a Qualified Person, as defined in NI 43-101, and is responsible for the technical content of this press release. Samples were collected by Company employees and are shipped in sealed bags to ALS-Chemex Laboratory preparation facilities in Zacatecas City. Sample pulps are shipped to ALS-Chemex Laboratories in North Vancouver, B.C. for analysis. All samples were assayed by multielemental ME-ICP41, and gold ICP21.

To view Figures 1, 2, 3 and 4 please click on the following link: http://media3.marketwire.com/docs/pslfigures14.pdf.