PSL Prospero Silver Corp

Prospero Silver Corp. (TSX VENTURE:PSL) the "Company" is pleased to announce
that it intends to complete a non-brokered private placement of up to 5,800,000
units at a price of $0.35 per unit, for aggregate gross proceeds of up to CDN
$2,030,000. Each unit will consist of one common share and one warrant,
exercisable by the holder to acquire one additional common share at a price of
$0.50 for a period of one year.


If at any time from four months and one day after the closing of the financing,
the volume weighted average trading price of the Company's common shares on the
TSX Venture Exchange over a period of 20 consecutive trading days exceeds $0.75,
the Company may, within five days after such event, provide notice to the
warrant holders that the warrants will expire early, namely on the date which is
30 calendar days after the date of such notice to the warrant holders.


A finders fee may be paid on all or part of the placement. The finder's fee will
consist of 6% cash and 6% warrants, each such warrant entitling the holder to
purchase one common share at $0.50 exercisable for one year.


The net proceeds from this private placement will be used for drilling at its
San Luis del Cordero Silver/Copper project; geophysics at its Campana gold
project; ongoing drilling at its El Dorado gold project and for general working
capital purposes.


This proposed financing is subject to the approval of the TSX Venture Exchange.

About Prospero Silver Corp.:

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 and focus on bringing one into early production while seeking to expand
the mineral potential to its maximum. Priority will be given to high grade gold
or silver projects.


Cautionary Statement:

This news release contains forward-looking statements within the meaning of the
Canadian provincial securities laws that are not historical facts.
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,
including statements regarding future exploration plans. 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 public disclosure record which is available on SEDAR (www.sedar.com),
including the risk factors discussed in Prospero's November 27, 2009 prospectus.
Although Prospero 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 time frames or at all. 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.

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