VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2008) - Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR) is pleased to announce that it has acquired a 51% interest in the Ana Camila claim group (5 concessions) located adjacent to the El Compas mine in Zacatecas. The 320 hectare property covers the northern extensions of the gold/silver bearing El Compas vein system.
Under the agreement signed in July 2007, Oro Silver has the option to purchase a 100% interest in the Ana Camila property by paying a total of US$300,000. To date Oro Silver has completed total payments of US$150,000. Additional payments, totaling US$150,000, are staged over the next 12 months.
"The Ana Camila agreement protects our interest in the El Compas mine area and fits our growth strategy in the Zacatecas district. The property covers 500 metres of strike extent of the El Compas vein system. The ore chutes defined by Oro Silver so far on the El Compas property have returned some impressive drill results such as 15.3 g/t gold and 76 g/t silver over 6.6 metres, and demonstrate the potential of the area," stated Herve Thiboutot, Chief Executive Officer and Vice-President Exploration of Oro Silver.
Oro Silver is currently in the process of completing a resource estimation based on drill results obtained to date at El Compas, which is planned for release next month.
Oro Silver exploration programs are supervised by Mr. Herve Thiboutot, P. Eng., and Mr. Eric Grill, Senior Project Manager. Mr. Thiboutot is a qualified person as defined by National Instrument 43-101. Mr. Thiboutot and Mr. Grill have reviewed the content of this press release.
About Oro Silver
Oro Silver is a silver exploration company pursuing early and advanced stage silver-based opportunities primarily in the western hemisphere. The company is focused on (i) developing resources and optimizing milling processes at its Vetagrande and El Compas Mine projects in Zacatecas, Mexico, and (ii) completing additional strategic acquisitions. Oro Silver's strategy is to become a mid-tier silver producer through an aggressive acquisition and development plan focused on advanced-stage projects with known silver resources that exhibit potential for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS,
Herve Thiboutot, Chief Executive Officer
Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, resource estimation, development and production activities and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities and the timing and amount of expenditures.
FOR FURTHER INFORMATION PLEASE CONTACT:
Oro Silver Resources Ltd.
Herve Thiboutot
Chief Executive Officer
(604) 646-1588
(604) 642-2411 (FAX)
Website: www.orosilver.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
