Great Panther Reports Third Quarter Production

VANCOUVER, Great Panther Silver Limited reported third quarter ("Q3") production and updates the exploration and development programs at its two wholly-owned Mexican silver mining operations, Topia and Guanajuato.
The combined metal production totaled 588,454 silver equivalent ounces ("Ag eq oz"), an increase of 2% over the last quarter and within 1% of the production for Q3 2009. The mines produced 2,201 ounces of gold, 382,220 ounces of silver, 271 tonnes of lead, and 352 tonnes of zinc. In this first year of the Company's 3-year growth strategy, the focus continues to be on underground development of new production areas and delineation of new resources and reserves. As such, some changes are being made to the mining methods and schedule at Guanajuato, which have temporarily deferred some silver production, while production from Topia remains on target. The combined year to date metal production at September 30, 2010 was 1.69 million Ag eq oz.
As part of its strategy to expand production to 3.8 million Ag eq oz by 2012, the Company completed an 8,815 metre surface diamond drilling program at Topia and escalated the drilling programs at Guanajuato. A new NI 43-101 compliant mineral resource/reserve update for each mine is being prepared by Scott Wilson Roscoe Postle Associates Ltd. for publication later in the fourth quarter ("Q4").
The Guanajuato Mine recorded an improved quarter as gold production from the Santa Margarita vein was sharply increased over previous quarters. Metal production from the mine totaled 250,629 oz Ag plus 2,042 oz Au, or 378,283 Ag eq oz, from processing 35,761 tonnes of ore with an average grade of 248g/t Ag and 1.96g/t Au.
Topia recorded another excellent quarter with metal production of 131,591 oz of silver, 159 oz of gold, 597,993 lbs of lead, and 775,996 lbs of zinc from milling 10,278 tonnes of ore. This equates to 210,172 Ag eq Oz, 2% higher than the second quarter of 2010 and 28% higher than Q3 2009. Ore grades averaged 441g/t Ag, 0.58g/t Au, 2.81% Pb and 3.72% Zn.
The company's address is Suite 2100, 1177 W. Hastings St., Vancouver, BC V6E 2K3, 604-608-1766, fax: 604-608-1744, email: [email protected].