Prospero Silver And Altiplano Sign New Agreement For San Luis Cordero Project

VANCOUVER, BC - Prospero Silver Corp. has entered into a new agreement with Exploraciones del Altiplano, S.A. de C.V., a privately held Mexican Company, in respect of new work programs on the San Luis del Cordero property in Durango State, Mexico. A previous agreement contemplated Prospero completing an exploration program exploration at Cordero with staged payments of cash; the issuance of Prospero shares and certain exploration expenditures on the property, leading to Prospero acquiring 100% ownership, subject to a residual 2% NSR royalty for Altiplano.

Prospero's recently announced agreement with Golden Minerals Company for the possible development of a mine at Cordero's Sta. Rosa vein, Prospero and Altiplano recognized the need to update their formal Cordero property agreement. The new agreement with Altiplano provides for Prospero to complete its acquisition of the 100% of the Cordero property by making staged issuances to Altiplano of a total of an additional 600,000 Prospero shares over the next 20 months, subject to Altiplano retaining a residual 2% NSR royalty interest. This new Cordero agreement remains subject to acceptance by the TSX Venture Exchange. Any share issued to Altiplano under this new agreement will be subject to the customary 4-month hold periods.

Golden Minerals has commenced studies on the Santa Rosa vein. Dewatering of the historic mine workings has started, to be followed by collecting and assaying fresh samples from the exposed vein, and metallurgical test work. This metallurgical test work will be used to determine what changes might need to be made, if any, to the existing crushing, milling, and flotation circuits at Golden Minerals' existing processing facilities. Golden Minerals also plans to carry out drilling for mine planning, as well as seeking to establish an expanded resource. Upon completion of such confirmatory work over the coming months, and assuming it is satisfied with the outcome of its investigations, Golden Minerals will proceed with engineering and permitting for mining of the Santa Rosa vein system.