ASL Argentum Silver Corp

Argentum Silver Corp. (TSX VENTURE:ASL) ("Argentum" or the "Company") announces
that it has closed the third and final tranche of its non-brokered private
placement of $0.35 units. The units each consist of one common share and
one-half of one share purchase warrant. Each whole warrant (the "Warrants") will
be exercisable for one additional common share at a price of $0.50 until June
23, 2012.


All securities issued with respect to the third tranche are subject to a four
month hold period expiring on October 24, 2011, in accordance with the policies
of the TSX Venture Exchange and the provisions of the Securities Act (British
Columbia).


In all, Argentum issued a total of 11,874,042 units under the private placement
for gross proceeds of $4,156,090. The first tranche of the private placement
closed on May 20th, and consisted of a total of 10,174,542 units. The second
tranche closed on May 26th, consisting of 1,649,500 units. The third and final
tranche consisted of 50,000 units.


In connection with the closing of the third tranche, Arco has paid a qualified
party a finder's fee in cash equal to 7% of the total proceeds, as well as a
non-transferable warrant (the "Finder's Warrant") entitling them to purchase
that number of Argentum common shares equal to 7% of the number of Units
purchased. Each Finder's Warrant will have terms and conditions similar to that
of the Warrants issued under the private placement. In connection with the
closing of the third tranche, Argentum has paid a total of $1,225 in cash and
issued 3,500 Finder's Warrants.


The proceeds of the private placement will be used to fund exploration and
drilling programs at our Lachiguiri property and the Coyote and Victoria
properties in Jalisco, Mexico which Argentum has optioned from Soltoro Ltd.


About Argentum Silver

Argentum holds the right to acquire a 100% interest in the Lachiguiri,
Silacayoapan and Nino Perdido properties, all located in Oaxaca, Mexico, under
an option agreement with Arco Resources Corp. Argentum also has an option to
earn a 100% interest from Soltoro Ltd. in the Victoria and Coyote silver-gold
projects located in Jalisco, Mexico. For further information, please go to
www.argentumsilvercorp.com.


On behalf of the Board of Directors of Argentum Silver Corp.

Warren McIntyre, President and Chief Executive Officer

This News Release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. Argentum relies upon litigation protection for forward-looking
statements.

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