PSL Prospero Silver Corp

Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased
to announce that its JV partner Silver Standard Resources, Inc. ("Silver
Standard") has commenced a 4,000 meter diamond drill program with two rigs in
the San Luis Cordero project located in central Durango. This initial program is
aimed at multiple targets including the extension at depth of the Santa Rosa
mineralized zone, the extension to the northwest of the Santa Rosa trend, the
chargeability anomaly under the limestone plateau located in the western zone,
new vein targets north of and parallel to the Santa Rosa vein, the extension to
the east of the Santa Rosa skarn zone, new targets defined by an IP survey and
geochemistry in the eastern La Puerta target zone, and an additional hole in the
high zinc Canal target zone.


Under the terms of the Definitive Agreement, Silver Standard has the option to
earn a 51% interest within 3 years by incurring total property expenditures of
US$3.5M, a minimum of 4,000 meters of drilling in Year 1, and total cash
payments of US$1.5M (see Prospero's News Release of March 20, 2013). Upon Silver
Standard earning a 51% interest, the initial joint venture program shall have a
minimum program cost of US$4M over 36 months and require the preparation of a
pre-feasibility level study on the property. The Definitive Agreement also
contains provisions related to additional joint venture exploration and
development programs, including the dilution of a joint venture partner's
participating interest if such partner does not fund its portion of a program.


Drill programs Prospero conducted in 2010 and 2011 encountered high-grade
silver, copper and zinc mineralization at multiple targets within the core of
the San Luis del Cordero district. "Silver Standard's involvement brings
financial capacity and expertise that would enable San Luis del Cordero to move
forward quickly," said Tawn Albinson, President of Prospero.


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. 


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 for their suitability to provide size potential and/or amenability for
strategic joint ventures.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prospero Silver Corp.
William Murray
Chairman
(604) 288-7813


Contact Financial
Kirk Gamley
(604) 561-3642

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