PSL Prospero Silver Corp

Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased
to announce that it has acquired by staking the 7,256 hectare Pachuca SE project
located 24km southeast along strike of the historic veins of the Pachuca-Real
del Monte mining district (Figure 1). This new project acquisition is part of a
systematic exploration program in the Mexican Altiplano and reflects Prospero's
strategy of creating value as a Mexico-focused project generator. Pachuca SE
will be added to the Company's portfolio of 100% owned projects available for
joint venture.


Pachuca SE is located within the same regional-scale sequence of volcanic rocks
of predominant intermediate composition (The Pachuca Group) which hosts the
historic Pachuca-Real del Monte mining district (Pachuca Mine) (Geyne et. al.,
1963: Consejo de Recursos Minerales No Renovables Publication 5E, 203 p). The
Pachuca Mine represents the second largest epithermal deposit in Mexico with
total production estimated in the order of 80 M tons with an average grade of
500 g/t Ag, and 2.5 g/t Au (Albinson et. al., 2001: SEG Special Publication
Series No. 8, p. 1-32). 


The Pachuca SE geology is typical of a high level epithermal environment with
the following characteristics: 




--  Location along strike of one of the world's largest epithermal precious
    metal deposits; 
--  Attractive gold and silver high level geochemistry when compared to the
    geochemical signatures of the Vizcaina structure above the Pachuca Mine;
--  A similar assemblage of clay minerals in the argillic alteration cap of
    both systems;  
--  Association with a more felsic volcanic pile than the Pachuca-Real del
    Monte host rocks; 
--  An erosional window that exposes several structures for a length of 5km
    across the system. 



The Company has completed detailed mapping, semi-systematic sampling and clay
mineral analysis (both SWIR and XRD) on the property within an area of 5km x 2km
where high level epithermalism is exposed. This is within a north-northwest
oriented and elongated erosional window of the Pachuca Group which is otherwise
covered by post-hydrothermalism cinder-cone volcanism of the younger basalts of
the Neovolcanic series. 


GEOLOGY.

The Pachuca Group in the area of the historic Pachuca Mine consists
predominantly of a thick pile of andesitic volcanics. In the Pachuca SE area the
volcanic pile is more felsic in composition consisting primarily of dacite
tuffs, pyroclasitic flows and lapilli tuffs, and overlying rhyolite ignimbrites.
In the northern sector of the Pachuca SE project both dacite plugs and dikes
intrude the volcanics and in the southern Cerro Varal sector, a vertically
banded commonly spherulitic rhyolite dike/dome phase intrudes the rhyolite
ignimbrites (Figure 2).


Northwest and east-west striking structures and alteration zones have been
mapped and sampled where exposed in outcrop. These occur in shallow mines, in
open cuts of road building material and in open pits which are actively being
mined for clay. The strike length of the structures and alteration zones,
recognized to date, range from 600m to 2,200m. Some may be significantly longer
in that they are covered by the younger volcanics both to the east and west
(Figure 2). The structures dip both to the north and south and tilt the host
rocks predominately to the north. 


Hydrothermal alteration and silica veining is closely associated with the
structures. Illite-inter-stratified illite/smecitite-pyrite dominated alteration
is associated with the northern and central sector of the system, whereas in the
Cerro Varal southern sector the alteration is characterized by
alunite-kaolinite-dickite and silica invasion. 


The Cerro Varal is the longest east-west striking structure exposed in the
project area (2.2km) and outcrops as vertically oriented reefs up to 20m wide.
The zoning of alteration suggests a deeper geologic level is exposed in the
north and middle sectors of the project area, whereas the top of the system with
acid-sulfate alteration occurs along the crest of Cerro Varal. 


A total of 134 rock-chip samples have been obtained from the Pachuca SE project.
The highest precious metal and zinc geochemistry occurs in the northern sector
with anomalous gold assays in the 0.1 to 0.61 ppm range, silver assays in the
1.0 to 2.92 ppm range, and zinc assays of 100 to 5,290 ppm. These values
coincide with the presence of narrow coarse crystalline quartz and calcite veins
and iron oxides closely associated with the mapped structures. In the Cerro
Varal area the intrusive rhyolite hosts numerous pyrite-rich veins along an
exposed length of 900m. The veins consist of cryptocrystalline quartz carrying
anomalous values of barium (up to 3780 ppm), molybdenum (up to 561 ppm), and
arsenic (up to 209 ppm), exhibit dickite alteration in the rhyolite intrusive
wallrocks, and occur immediately below the cap of advanced argillic alteration
(alunite-kaolinite). Numerous workings and shafts up to 30m deep were developed
by the old timers along the pyrite-silica rich veins. 


To view Figures 1 and 2 please click on the following link:
http://media3.marketwire.com/docs/PSL0624.pdf


Comparison with Pachuca's high level alteration

Rock-chip sampling (11 samples) of the Vizcaina structure above the old Pachuca
Mine and along road cut exposures located 100-200m above known orebodies assayed
only at the limit of detection for gold (less than 0.002 ppm) and silver (less
than 0.02 ppm), and weak zinc anomalies (less than 144 ppm), from scarce
crystalline quartz and calcite veinlets within a halo of illite-pyrite
alteration. The structural, geochemical and hydrothermal alteration similarity
of the Pachuca SE system with the high level epithermal environment that
overlies the Pachuca Mine veins, was likely recognized by the Pachuca-Real del
Monte operators over a hundred years back, in that they developed several levels
over a hundred meters in length and shafts over 30m deep along the Pachuca SE
structures, most likely expecting to find the top or apex of orebodies.


Not uncommonly, important epithermal precious metal deposits in Mexico are
closely time-related with emplacement of domes of felsic composition, or include
significant volumes of felsic volcanic rocks in the pre-mineral phases of
volcanism (rhyolites to dacites). Examples include:




--  The Guanajuato district - the Chichindaro felsic dome phase, 
--  Fresnillo - the Cerro Christo and Linares (Juanicipio) rhyolites, 
--  Bacis (Durango) - a pre-vein dacitic volcanic pile and a felsic dome
    phase,  
--  Cienega (Durango) - a felsic dome phase, 
--  Tayoltita - thick sections of rhyolites in the host rocks, and 
--  Pachuca itself which exhibits banded pre-vein rhyolite dikes.



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. The samples were analyzed by ALS Chemex, by the following methods, gold
by Au-ICP21 with a lower limit of detection of 0.001 ppm; silver (with a lower
limit of detection of 0.02 ppm) by multielemental ME-MS61, and mercury by
Hg-CV41.


About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in
Mexico and who work for its wholly owned subsidiary Minera Fumarola, SA de CV
(Fumarola). Following a project generator model to de-risk exploration and
minimize dilution, the Company has a growing portfolio of high-quality projects
and has been successful in finding strong partners.


Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the
meaning of Canadian securities legislation, relating to the closing of a
non-brokered Private Placement. Although the Company believes that such
statements are reasonable, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are statements that are not
historical facts; they are generally, but not always, identified by the words
"expects," "plans," "anticipates," "believes," "intends," "estimates,"
"projects," "aims," "potential," "goal," "objective," "prospective," and similar
expressions, or that events or conditions "will," "would," "may," "can," "could"
or "should" occur, or are those statements, which, by their nature, refer to
future events. Factors that could cause actual results to differ materially from
these forward looking statements include, but are not limited to, variations in
the nature, quality and quantity of any mineral deposits that may be located,
the Company's inability to obtain any necessary permits, consents or
authorizations required for its planned activities, and the Company's inability
to raise the necessary capital or to be fully able to implement its business
strategies. The reader is referred to the Company's reports, publicly available
through the Canadian Securities Administrators' System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com, including the risk factors
discussed in Prospero's November 27, 2009 prospectus. Except as required by
securities laws and the policies of the TSX Venture Exchange, Prospero disclaims
any intention or obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise. 


There is no certainty further exploration will lead to the discovery of a
deposit similar to the Pachuca Mine.  


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prospero Silver Corp.
William Murray
Chairman
(604) 288-7813


Contact Financial
Kirk Gamley
(604)561-3642

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