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November 23, 2011
PROSPERO SILVER STAKES 6,353 HECTARE PROJECT ADJACENT TO HIGH-GRADE
GOLD DISTRICT IN DURANGO, MEXICO
Vancouver, B.C. - Prospero Silver Corp. (TSXV: PSL) (“Prospero” or the “Company”) is pleased to
announce the acquisition (through staking) of a 6,353 hectare property covering a new target zone in the
western portion of Mexico’s Santa Maria del Oro gold/silver district. The project claim (“Santa Maria” –
Figure 1), is located in Durango state, 220km NW of Durango City, and 15km west of Indé.
The Company used remote sensing data to identify a major northwest trending lineament at least 12km in
length (Figure 1) positioned under post-mineral cover. The new lineament lies about 4km west of the
historic Magistral vein system, which is approximately 6km in length. Both lineaments exhibit an average
strike of N50°W, which is the predominant trend of vein systems in the Mexican Altiplano.
Prospero plans to undertake detailed geophysical surveys to evaluate if the lineament potentially
corresponds to buried structures/vein systems in the western extension of the district, and the possible
depth of such structures.
The Company’s new Santa Maria del Oro Project is adjacent to the historic Magistral del Oro mines,
which were discovered in 1620. They produced high-grade gold from multiple veins during several
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periods from the 17 to the 20 centuries, with the last recorded commercial production taking place in
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the 1960s. Early 20 century historic reports (Weissel, 1906; Vaupell, 1933) indicate that average grades
in the oxide zone of the Magistral del Oro vein system exceeded 15 g/t Au and tailings records point to
approximately 3 million tons (located on third party ground) with an average grade of 2.2 g/t Au. About 2/3
of these tailings were processed (heap leached) in the late 1990s. These reports suggest limited
production of sulphide ore at Magistral del Oro district mines, particularly from the deeper levels of the
Cocinera mine, which reached a maximum depth of 300m.
The historic portion of the district exhibits a vein system hosted in older basement rocks, including
Paleozoic schists, a weakly metamorphosed andesitic volcanic pile, the Ahuichila formation, and a
sequence of Tertiary andesites. A sequence of post-vein upper-Tertiary conglomerates of the Santa Ines
formation to the west buried the extension of the district in that direction.
“We plan to deploy some of the same techniques used on our Campana project to explore these buried
targets” said Tawn Albinson, Prospero Silver President and head of exploration. “Our Mexican exploration
team is familiar with this district and we anticipate that an exploration program can be quickly defined.”
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.
Weissel, J.J., 1906, Report on the Santa Maria Mines, Private Report dated November 12, 1906, 5p.
Vaupell, C.W., 1933, Santa Maria del Oro Mines, Magistral, Durango, Mexico, Private Report dated April
25, 1933, 12p.
About Prospero Silver Corp.:
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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). Prospero’s objective is to quickly
evaluate the properties currently optioned for their suitability to provide size potential and/or amenability
for strategic joint ventures.
For further information please contact:
William Murray
Executive Chairman
Tel: (604) 248 – 0797
or
Peter Murray
Contact Financial
604-689-7422
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.
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.
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