PSL Prospero Silver Corp

Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased
to announce the results of 360 rock chip samples obtained from the Petate West
and Petate East target zones of its 6,000 hectare El Petate project. The
Apartadero target is part of the Petate West zone, measuring 1.3 km long and up
to 200 meters wide and has shown the most anomalous gold geochemistry to date in
jasperoid outcrops and float. Mapping of the Petate West zone shows northwest
and east-west trending silicified zones associated with andesitic dikes with the
same orientation (Figure 1). Mapping and sampling have to date identified the La
Escoba, Apartadero and and Tecolotes silicified reefs. Other as yet unmapped
reefs are anticipated west of the Apartadero reef and in the southern extension
of the Petate West zone (see attached maps). The property boundary lies outside
the area of the figures. 


The highlights of the Apartadero geochemistry include:



--  Assays in the range of 1 to 6.62 ppm Au occur along a length of 500
    meters in the southeast extension of the Apartadero target. The
    geochemical values are presented over subdued geology. 
--  These expand to a length of 1100 meters for assays above 0.1 ppm Au (see
    Figure 2); 
--  The silver geochemistry in the Apartadero trend exhibits anomalous
    values between 1 to 6.4 ppm (Figure 3). 
--  Multi-elemental pathfinder geochemistry revealed elevated mercury,
    arsenic and antimony anomalies associated with the precious metals. 
    1.  Mercury with values between 10 ppm to greater than 100 ppm is
        closely associated with the higher gold geochemistry (Figure 4); 
    2.  Antimony geochemistry also closely follows gold values, with the
        higher values in the 100-400 ppm range concentrated in the southeast
        sector of the Apartadero target area; 
    3.  Similarly, arsenic values above 100 ppm follow the gold anomalies,
        and exhibit a hot spot in the Apartadero area, where the highs
        mostly range from 100 ppm to 400 ppm;
--  Other elements such as barium are also high in the Apartadero area with
    highs ranging from 1000 ppm to 10,000 ppm.



While the Apartadero geochemistry is highly anomalous in gold in its southeast
extension, the data to date from the Petate East geochemistry is showing
proportionately higher silver geochemistry as follows:




--  The Petate # 1, #2, and # 3 targets, in the eastern zone of the project
    area, exhibit higher rock-chip silver geochemistry with assays commonly
    above 50 ppm (Figure 3); 
--  Higher iron and manganese geochemistry is associated with the Petate
    East targets with anomalous values in the single to double digit percent
    range.



Other Target areas.

La Escoba areas in the northwest portion of the district is divided into Escoba
North, Escoba Central, and Escoba south silicified trends. These are
characterized by more subtle precious metal and pathfinder-element anomalies,
with gold highs in the 0.1 to 1 ppm range, silver highs under 5 ppm, and mercury
highs under 5 ppm. 


The Tecolotes area in the southwest sector of the district also exhibits
significant highs in Au-Ag-Sb-Hg-As (Figures 2 to 4). 


Samples obtained from the reconnaissance sampling program represent chip-grab,
chip-channel samples, as well continuous channel samples, either in outcrops or
in jasperoid boulders and fragments within float. Most samples were obtained
along lengths of 1.0 to 1.5 meters. 


Next-step activities for the Petate project:

The Apartadero area (in the Petate West zone), and the Petate East areas are
prime targets which require a trenching program in zones where the best precious
metal anomalies occur, particularly along the northeastern margin of the
Apartadero trend which hosts discontinuous outcrops of dikes. Channel sampling
in the trenches should provide a better understanding of the length, width and
grade of the mineralized zone(s). 


Additional reconnaissance mapping and sampling is required west of the
Apartadero area and in the southwestern sector of the district. 


The Tecolotes area is believed to host several silicified reefs yet to be mapped
and sampled in more detail. 


The geology of the project is characterized by an anticlinorium/dome of the
Mesozoic fold belt of the Sierra Madre Oriental. All mineral occurrences are
hosted in the El Abra limestone of Lower Cretaceous age. A north-south trending
remnant of the Upper Cretaceous clastics of the Mendez Formation is as yet
un-eroded in a recumbent syncline between the Petate West and Petate East zones
(see Figure 1). Scattered outliers of overlying andesites of the Tertiary
Pachuca Group do not host alteration or hydro-thermalism, thus suggesting the
hydrothermal system is more akin to the age of the Zimapan skarn/replacement
type deposit (approx. 42 Ma), than the age of the Pachuca vein deposit (approx.
23 Ma). 


In summary, the Apartadero zone highlights stronger gold values associated with
Ag-Hg-Sb-As, whereas the Petate East areas are characterized by stronger silver
values in association with Au-As-Ba-Fe-Mn. These preliminary results show strong
geochemical signatures in the Apartadero and Petate East target areas, including
multi-ppm values in gold at Apartadero, and greater than 50 ppm Ag at Petate
East. Given the length of the silicified reefs, the Petate project area
represents a robust system with excellent potential to host a preserved
replacement type deposit at depth with elevated precious metals. 


Fluid inclusion petrography indicates the fluids associated with deposition of
crystalline quartz are relatively low temperature and salinity (130 degrees C to
230 degrees C; 0-3.0 wt.% NaCl equiv) indicating the surface exposures across
the project area correspond to the upper portions of a preserved mineralized
system at depth. 




--  The geochemical signature of the western Petate zone (Au-Ag-Hg-Sb-As) is
    more indicative of low-sulfidation hydrothermalism, whereas 
--  The East Petate zone geochemistry (Ag-Au-Fe-Mn) is more indicative of
    intermediate-sulfidation hydrothermalism. 



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. Samples were collected by Company employees and are shipped in sealed
bags to ALS-Chemex Laboratory preparation facilities in Zacatecas City. Sample
pulps are shipped to ALS-Chemex Laboratories in North Vancouver, B.C. for
analysis. All samples were assayed by multielemental ME-ICP41, and gold ICP21. 


To view Figures 1, 2, 3 and 4 please click on the following link:
http://media3.marketwire.com/docs/PSL0121.pdf 


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prospero Silver Corp.
William Murray
Chairman
(604) 248-0797


Contact Financial
Kirk Gamley
(604) 561-3642

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