ELS

El Tigre Silver Corp. (the "Company" or "El Tigre") (TSX
VENTURE:ELS)(OTCQX:EGRTF)(FRANKFURT:5RT) announces that, as a result of a review
by the British Columbia Securities Commission, the Company is issuing the
following news release to clarify its disclosure. In those instances where the
Company has clarified or revised previous disclosure, the Company advises
readers not to rely on such statements as they may continue to be found in the
public domain.


The Company's website and certain news releases contained disclosure regarding
the Company's tailings project and the potential decision to put the tailings
project into production without first establishing mineral reserves and
completing a feasibility study. Such disclosure may be misleading as it did not
provide adequate disclosure regarding the increased uncertainty and the specific
economic and technical risks of failure associated with its production decision.
This disclosure is not compliant with National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101") as it does not contain the
mandatory cautionary language required by NI 43-101 in the event an issuer makes
a production decision without first establishing mineral reserves supported by a
technical report and competing a feasibility study. A production decision
involves large capital expenditures and a high degree of risk and uncertainty
and when based on an exploration target instead of mineral reserves supported by
a feasibility study, historically have a higher risk of economic or technical
failure. The Company clarifies any disclosure regarding the potential for a
production decision on its tailings project to include the following language:




--  The Company is considering advancing the tailings project into
    production. A production decision without the benefit of a technical
    report independently establishing mineral resources or reserves and any
    feasibility study demonstrating economic and technical viability creates
    increased uncertainty and heightens economic and technical risks of
    failure associated with the tailings project. 



In addition, in the Company's May 8, 2012 news release, the Company stated that
"the Project will provide short term revenue for the Company to use for
exploration...". The Company retracts this statement as it may be misinterpreted
to disclose results of an economic analysis. The Company also has removed from
its website a BTV interview posted on the Media page in which the Company states
that the "numbers make good financial sense" and that the tailings project will
be low-cost, producing and providing payback in 11 months. The Company retracts
each of these statements as it may be misinterpreted to disclose results of an
economic analysis. NI 43-101 restricts disclosure regarding the results of an
economic analysis that is based on an estimate of potential quantity and grade
of an exploration target, in this case, the tailings project. NI 43-101
restricts disclosure of economic analysis based on exploration targets because
such targets are conceptual in nature and have even less confidence than
inferred resources, which are insufficient to allow the meaningful application
of technical and economic parameters or to enable an evaluation of economic
viability worthy of public disclosure. 


Further, the above disclosure could imply that the Company has made a decision
to advance the tailings project to production prior to the completion of a
feasibility study without including the cautionary language required by NI
43-101. Accordingly, the Company clarifies that is has not made a production
decision and the Company's strategic plan to design and construct an engineered
processing facility for the tailings project and if and when any production
decision is made, the Company will disclose the basis of its decision in
accordance with the requirements of NI 43-101. 


The Company's website contained non-compliant and potentially misleading
disclosure about mineral reserves and resources at the Company's El Tigre
property (the "El Tigre Property") relating to the tailings project. The Company
clarifies any disclosure regarding these statements, including the following: 




--  On slide 13 of the corporate presentation, an exploration target (the
    tailings project) was disclosed and was not compliant with NI 43-101
    because it did not contain with equal prominence a cautionary statement
    that the potential grade and quantity is conceptual in nature, that
    there has been insufficient exploration to define a mineral resource and
    that it is uncertain if further exploration will result in the discovery
    of a mineral resource. The Company clarifies that this disclosure has
    not been validated. 
--  On slide 19 of the corporate presentation, a historical estimate for the
    Tigre vein was disclosed and not complaint with NI 43-101 because it did
    not contain with equal prominence a cautionary statement that a
    qualified person has not done sufficient work to classify any historical
    estimate at the El Tigre Property as current mineral resources and that
    the Company is not treating the historical estimate as current mineral
    resources and the historical estimate should not be relied upon. The
    Company clarifies that this disclosure has not been validated. 



To address the concerns of the British Columbia Securities Commission, the
Company has removed the corporate presentation from its website and is updating
it accordingly and will ensure that the necessary cautionary statements are
stated with equal prominence where these statements are disclosed. 


In the Company's Management Discussion and Analysis ("MD&A") filed on
www.SEDAR.com and certain information on its website, the Company failed to
properly identify and disclose the relationship to the Company of the qualified
person who approved, prepared or supervised the preparation of the technical
information. The failure to identify and disclose the relationship to the
Company of the qualified person is not compliant with NI 43-101. With respect to
the Company's MD&A, the Company clarifies as follows:




--  From August 8, 2011 to present, the technical content of the MD&A and
    the website was approved by Steven D. Craig, CPG and Vice President of
    Exploration for El Tigre, a qualified person as defined in NI 43-101. 
--  From June 28, 2011 to August 7, 2011, the technical content of the MD&A
    and the website was approved by T. Gregory Hawkins, M.Sc., P.Geo., a
    qualified person as defined in NI 43-101. T. Gregory Hawkins is
    independent of the Company within the meaning of NI 43-101. 
--  From June 17, 2010 to June 27, 2011, the technical content of the MD&A
    and the website was approved by Eugene K. Schmidt, RPG and at the time,
    Vice President of Exploration for El Tigre, a qualified person as
    defined in NI 43-101. 



In the event that the Company receives an initial material resource estimate, as
defined by NI 43-101, it will promptly announce the results and file a
supporting technical report.


The technical content of this news release has been approved by Steven D. Craig,
CPG and Vice President of Exploration for El Tigre, a Qualified Person as
defined in NI 43-101.


About El Tigre Silver Corp.:

The Company, through its subsidiaries, holds the rights to 100% of nine mineral
concessions, eight comprising of 431 square kilometers located in north-eastern
Sonora, Mexico (the "El Tigre Property"). El Tigre also holds one additional 32
hectare claim separate from the El Tigre Property. A technical report has been
prepared for the El Tigre Property and can be found on the Company's profile on
SEDAR atwww.sedar.com and on the Company's website atwww.eltigresilvercorp.com.


Cautionary Statements:

This news release contains forward-looking statements and forward-looking
information (together, "forward-looking statements") within the meaning of
applicable securities laws and the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements include future announcements and
filing of technical reports. Forward-looking statements involve risks,
uncertainties and other factors that could cause actual results, performance,
prospects and opportunities to differ materially from those expressed or implied
by such forward-looking statements. Factors that could cause actual results to
differ materially from these forward-looking statements include those risks set
out in the Company's public documents filed on SEDAR at www.sedar.com. Although
the Company believes that the assumptions and factors used in preparing the
forward-looking statements are reasonable, undue reliance should not be placed
on these statements, which only apply as of the date of this news release, and
no assurance can be given that such events will occur in the disclosed times
frames or at all. Except where required by law, the Company disclaims any
intention or obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
El Tigre Silver Corp.
Stuart Ross
President and CEO
(778) 980-7187
srross@eltigresilvercorp.com


El Tigre Silver Corp.
Steven Craig
VP Exploration
(775) 815-8456
scraig@eltigresilvercorp.com


El Tigre Silver Corp.
Rob Grace
Corporate Communications
(604) 639-0044
(604) 608-61613 (FAX)
rgrace@eltigresilvercorp.com
www.eltigresilvercorp.com

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