PROSPERO SILVER CORP. : http://www.prosperosilver.com/ : QwikReport

News Releases

#February 08, 2017
PROSPERO PROVIDES PROJECT UPDATES FOR 2017

 THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

February 8, 2107 - Vancouver, B.C. - Prospero Silver Corp. (TSXV: PSL) ("Prospero") is pleased to provide an update on recent exploration work on its Mexican project portfolio. In October 2016, Prospero raised C$1.85mvia a private placement to fund its generative programs through 2017 (see news release dated October 14, 2016).

• Prospero now holds 5 projects in its portfolio and plans to add two more in the near future via staking. Extensive permitting work has been completed to bring the projects to drill-ready status.

• Joint venture negotiations are on-going for the Company's most advanced project, El Petate. Prospero's objective is to secure a minimum drilling commitment for the project in the first 12 months of a joint venture.

• Two of the Company's100%-owned projects(Santa Maria del Oro and Pachuca SE) have been advanced to drill-ready status and drill permit and environmental approvals are imminent.

• Additional field work has been completed at Bermudez to bring the project to drill-ready/Joint Venture status and drill permits will also be sought for the project.

• The field-work program which started in early November 2016 has resulted in the acquisition of the Florida Project (news release December 7, 2016) and the evaluation of 6 other projects. Two of these new projects are now in the advanced stages of evaluation for purposes of claiming.


Prospero's Existing Projects.

Petate, Hidalgo State.

The 6,868 hectare Petate property is the most advanced of Prospero's projects with drill permits granted for 27 drill sites and surface access secured from the land owners. High-level epithermal alteration is exposed over a 5x4 km area with highly anomalous gold and silver hosted in extensive outcrops and float of steep to strata-bound jasperoid. The significant size of the silicified zones indicates that Petate is a robust mineralized system with excellent potential to host a replacement type deposit at depth. Joint venture negotiations are underway for Petate.

Santa Maria del Oro Project, Durango State
Matorral and Lineament targets

The Matorral target, with over 7km of prospective structures, is one of two targets on the 9,066 hectare Santa Maria del Oro claims. A drill permit has now been received by Prospero for 20 drill pads in 3 different areas to test for down-dip precious metal mineralization. Prospero's sampling has returned silver values form trace up to 460g/t Ag at surface.

Surface access permits have been obtained and drill permitting is now in progress for the second target, the Magistral Lineament on the western side of the district, which is approximately 1.8km away from the historic Santa Maria del Oro mine. The Lineament structure was located by geophysics (see news release dated November 23, 2011).

Both targets are available for joint venture but Management have included funding in the 2017 budget for a 3,000m drill program at Matorral in the event that the Company is unable to secure a favorable JV on the project.

Pachuca Southeast, Hidalgo State

The Pachuca SE target consists of high-level epithermal-style alteration exposed in clay pits adjacent and on-strike from the historic Pachuca mining district. Prospero recently received approvals from the Mexican archaeological agency (INAH) paving the way for permit applications for 4 drill sites on the 7,256 hectare Pachuca SE land package.

The anomalous geochemistry and clay alteration at Pachuca SE target are very similar to that seen in the Vizcaina structure above the historic Pachuca Mine. The target has size potential, strong hydrothermal alteration and a number of geochemical anomalies have been identified associated with structures that could host a preserved Pachuca-type epithermal deposit at depth. 
Bermudez, Chihuahua.

The 430 hectare Bermudez project is in Chihuahua, about 150km west of the City of Chihuahua. Additional mapping and sampling has been completed on the 2.5km strike length of the high-level low-sulfidation vein system. Assay results are pending for 51 new samples, and based on the results the best locations for drill sites will be selected to test the potential for deeper mineralization.

Acquisition of New Projects.

Prospero's geologists have been reviewing potential targets in the field for the last 3 months and successfully identified 6 projects for possible staking. The acquisition of the 100% owned Florida project was reported by news release dated December 7, 2016. Two other projects are in the advanced stage of staking and Prospero is currently in the process of completing the relevant paperwork. These will be reported on once Prospero has completed the staking process.

Warrant Exercise and Share Structure

Management are pleased to report that a total of 2,401,257 warrants was exercised in the last quarter of 2016 and into early 2017, bringing an additional $275,657 into Prospero's treasury. The Company currently has 30.57-million shares issued with 845,000 options and 15.1-million share purchase warrants. Fully diluted shares are 46.53-million. Cash on hand is approximately C$1.47-million, sufficient for the Company's 2017 work program.

Qualified Person

TawnAlbinson, 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 news release. Mr. Albinson is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist (CPG) No. 11368.

About Prospero Silver Corp.:

Prospero is a Mexico-focused project generator listed on the TSX.V under the symbol PSL.V. Prospero's aim is to discover world-class precious metal projects in the major mineral belts of Mexico. The Company applies a unique blend of practical exploration experience, cutting-edge mineral deposit science, and an extensive knowledge of Mexico's geology to find new gold and silver systems. Our exploration programs are run by a small but highly-focused geological team based in Mexico.

For further information please contact:

Ralph Rushton William Murray
Exec VP Business Development Chairman
Tel: 604 307 0055 Tel: 604 288 2553

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's plan to undertake the Offering and the proposed use of proceeds. 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. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, the risk that the Company will not be able to secure sufficient subscriptions from investors to complete the proposed Offering, possible, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States except pursuant to registration or an available exemption from registration under such Act.

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.
 
#December 07, 2016
PROSPERO STAKES EPITHERMAL VEIN SYSTEM IN HIDALGO STATE, MEXICO

 THIS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, B.C. - Prospero Silver Corp (PSL.V; "the Company" or "Prospero") is pleased to announce that it has staked a high level epithermal vein system 85 kilometers northwest of Pachuca, Hidalgo State, Mexico; the closest town is Zimapan. Known as La Florida, the property covers 4,690 hectares.

The La Florida vein system is at least 3.5 kilometers long and strikes N70°W, dipping steeply to the SW. The property is located close to excellent infrastructure, and Hidalgo is one of the safest states in the Mexican Republic. The target area occurs within the western boundary of Sierra Madre Oriental where other proximal deposits such as Pachuca-Real del Monte, Zimapan, and La Negra are located.

Tawn Albinson, the President of Prospero said: "La Florida has been on our watch list since 2011. Our staking program there is a reflection of Prospero's renewed commitment to its shareholders to aggressively pursue promising properties and build a first class portfolio of early stage projects for potential joint venture.

Our sampling at La Florida returned anomalous Au and Ag values locally occurring with pyrite and stibnite. We also see the anomalous epithermal pathfinder elements antimony, arsenic and mercury. Taken together, the results indicate that we're looking at the upper portions of a low-sulfidation type epithermal system, possibly close to a potential mineralized zone at depth. We plan to carry out more detailed field work at the property to outline the size of the hydrothermal system, and to define the best drill targets."

Background

Prospero carried out basic reconnaissance work including chip and grab sampling and alteration mapping. Twenty two samples have been collected to date over 2 short programs in 2011 and 2016. Gold and silver are anomalous with 36% of the samples returning between 0.11 to 0.52 ppm Au, and 1.4 to 11.1 ppm Ag. A suite of high level epithermal pathfinder elements are consistently anomalous in the samples, such as As (up to 525 ppm), Hg (1-6 ppm), Sb (up to 6,860 ppm), and Ba (up to 2260 ppm). Weak anomalies are also present in Cu (up to 203 ppm) and Mo (up to 111 ppm). Most of the silicification noted is cryptocrystalline in nature, hosting abundant iron oxides and some preserved pyrite and stibnite. Silicification and argillization are related to structures with strong displacement which uplift Cretaceous sediments in the footwall and down drop Tertiary volcanics in the hanging wall.

An additional structure at least 1 kilometer in length was identified 3km further north of the principal structure. Two rock-chip samples obtained at this location contain 0.60 to 0.61 ppm gold, 2 ppm Ag, 1,595 to 1,945 ppm As, and 1.7 to 2.1 ppm Hg.


Qualified Person

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 news release. Mr. Albinson is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist (CPG) No. 11368.

About Prospero Silver Corp.

Prospero is a Mexico-focused project generator listed on the TSX.V under the symbol PSL.V. Prospero's aim is to discover world-class precious metal projects in the major mineral belts of Mexico. The Company applies a unique blend of practical exploration experience, cutting-edge mineral deposit science, and an extensive knowledge of Mexico's geology to find new gold and silver systems. Our exploration programs are run by a small but highly-focused geological team based in Mexico.

For further information please contact:

Ralph Rushton William Murray
Exec VP Business Development Chairman
Tel: 604 307 0055 Tel: 604 288 2553

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's proposed use of the financing proceeds. 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. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, possible, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise the additional funds in the future to continue to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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.
 
#October 24, 2016
PROSPERO PROVIDES PROJECT UPDATES

 
THIS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

October 24, 2016 - Vancouver, B.C. - Prospero Silver Corp. (TSXV: PSL) ("Prospero" or "the Company") is pleased to provide an update on recent exploration work on its Mexican project portfolio. In mid-October, Prospero closed a C$1.85-million private placement (see news release dated October 14,
2016), which is anticipated to fund a 12 month exploration program in established metallogenic trends
principally in Mexico's Altiplano.

In summary, Prospero has restarted work programs on its 100%-owned projects. Management is currently prioritising and ranking the Company's key projects for joint venture. The Company has also submitted permit applications to drill the Matorral target at Santa Maria del Oro.

Additionally, Prospero's senior geologists and claims supervisor have identified 5 new early-stage precious metals targets for staking, two of which will shortly be staked and brought into Prospero's portfolio.

New Projects

Prospero's team has identified a number of targets through initial fieldwork and monitoring of active and lapsed claims. The work has resulted in the team shortlisting 5 projects for staking. Initial sampling has been carried out and further work is planned, focusing on targets that can be claimed at the present time. Prospero's focus is aimed at well-known metallogenic trends in central Mexico using the Company's extensive local geological and historic mining data base. The Company is also taking into account local infrastructure and strategic location. As the Company receives significant assay results and secures mineral tenure, it will report on the new projects. Additional work on the 100% owned Bermudez property was postponed so that the team can focus on the project generation effort.

Prospero's Existing Projects

Baborigame

Baborigame, near Guadalupe y Calvo, in western Chihuahua State, is a low-grade disseminated gold- silver target hosted in a pyroclastic flow unit. Prospero is focussing on 415 hectares of claims covering the Cebollas area which is considered to have open-pit potential. The Company's geologists completed four continuous lines of chip samples across Cebollas in 2014 but were unable to assay the 200+ samples due to budget constraints and they were placed in storage. Following the private placement, they have been assayed and the results are summarised below. Maps showing the sample line locations are available on Prospero's website at: http://www.prosperosilver.com/s/Baborigame.asp

Sample Line Length (m)* Au (Average ppm) Ag (Average ppm)
1 110 0.30 14.8
2 120 0.50 10.4
3 90 0.40 10.8
4 105 0.18 17.6

*True width is estimated to be approximately 80% of the sample line length based on the dip and thickness of the pyroclastic unit.

The northern sector of the Baborigame district hosts a highly-fractured pyroclastic flow unit with local crackle brecciation and extensive narrow veining. Gold and silver show disseminated values but also higher grade zones in the middle and basal portions of the pyroclastic unit over a strike length of 1,500m. The first 3 lines are contiguous within a zone 350 meters in length, whereas line 4 is located 400 meters further south. The favorable horizon strikes north-south and dips 23° to the west under post-mineral cover.

Prospero will be taking additional channel samples on the Cebollas zone and also applying for drill permits in order to test the favorable zone down dip for possible feeder zones.

Santa Maria del Oro- Matorral

Prospero is preparing environmental permit applications for 20 drill pads located in 3 areas at Matorral. Matorral is one of three targets on the 9,066 hectare Santa Maria del Oro claims. At Matorral, a number of large structurally-controlled jasperoid bodies are exposed northeast of the historic Magistral Mine. The total length of individual prospective structures adds up to over 7 km. This project is drill ready and Prospero has had initial discussions with drill companies interested in bidding for the drilling. For more information see Prospero's news release dated August 16, 2016.

El Petate

The 6,868 hectare El Petate property is the most advanced of Prospero's projects. Drill permits have been obtained covering 27 drill sites and surface access for the targets has been granted by the land owners. Prospero has shown the project to a number of mid-tier mining companies who are interested in potentially joint-venturing the project. Discussions are ongoing.

High-level epithermal alteration is exposed over a 5x4 km area with highly anomalous gold and silver hosted in extensive outcrops and float of steep to strata-bound jasperoid. The significant size of the silicified zones indicates that El Petate is a robust mineralized system with excellent potential to host a replacement type deposit at depth. In addition to drilling the shallow precious metal targets, future work should test the potential for blind carbonate-replacement bodies of manto and/or chimney type, containing Ag, Pb, Zn and ± Au similar to the Zimapan or Santa Eulalia polymetallic systems.

Pachuca Southeast

Prospero has initiated environmental permit applications for four drill sites on the 7,256 hectare Pachuca SE land package. High-level epithermal-style alteration is exposed in clay pits adjacent and on-strike from the historic Pachuca mining district. The anomalous geochemistry and clay alteration are very similar to that seen in the Vizcaina structure above the historic Pachuca Mine. The Pachuca SE target has size potential, strong hydrothermal alteration and a number of geochemical anomalies associated with structures and could host a preserved Pachuca-type epithermal deposit at depth. The project is drill ready.

San Luis Del Cordero

In October, Golden Minerals advised Prospero that it would not be proceeding with the exploitation joint venture on the Santa Rosa vein at its San Luis del Cordero Project. After completing a 5,000m diamond drilling program, Prospero was advised that Golden did not find enough high grade tonnage to justify a production decision. As a result, and in respect of the high holding costs of the Cordero claims, Prospero will be terminating the underlying option agreement with Altiplano.

Qualified Person

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 news release. Mr. Albinson is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist (CPG) No. 11368.

About Prospero Silver Corp.:

Prospero is a Mexico-focused project generator listed on the TSX.V under the symbol PSL.V. Prospero's aim is to discover world-class precious metal projects in the major mineral belts of Mexico. The Company applies a unique blend of practical exploration experience, cutting-edge mineral deposit science, and an extensive knowledge of Mexico's geology to find new gold and silver systems. Our exploration programs are run by a small but highly- focused geological team based in Mexico.

For further information please contact:

Ralph Rushton
Exec VP Business Development
Tel: 604 307 0055

William Murray
Chairman
Tel: 604 288 2553

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's proposed use of the financing proceeds. 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. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, possible, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise the additional funds in the future to continue to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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.
 
#September 22, 2016
THIS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES PROSPERO ANNOUNCES APPOINTMENT OF OFFICER AND GRANT OF STOCK OPTIONS

 September 22, 2016: Vancouver, B.C. - Prospero Silver Corp. (TSXV: PSL) ("Prospero" or the "Company") is pleased to announce that it has appointed Mr. Ralph Rushton as Executive Vice President, Business Development of the Company. Mr. Rushton holds a B.Sc. in geology from Portsmouth University in the UK, a Master's degree in Economic Geology from the University of Alberta, and a Certificate in Business Communications from Simon Fraser University. He has over 30 years' experience in precious and base metals mining and exploration, much of which was gained working as a geologist in Southern Africa, the Middle East and Eastern Europe for Rio Tinto and Anglo American plc. For the last 13 years he has worked in business development for a number of junior resource companies and currently serves as a director on the boards of three Vancouver-based companies. He has experience in a broad range of commodities including precious and base metals, iron ore and phosphate, and has helped to raise over C$400mil through private placement financings to fund exploration and development programs in Latin America, Scandinavia and Eastern Europe. 

The board of directors of the Company has approved the grant of 400,000 stock options (the "Options") pursuant to the Company's Share Option Plan to Mr. Rushton. The Options are exercisable at a price of $0.30 per share expiring on September 19, 2021 and vest as to 100,000 Options or 25% on the dates that are three, six, nine and twelve months from the date of grant.

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. Prospero's objective, as a project generator, is to quickly evaluate properties it acquires for their suitability to provide size potential and/or amenability for strategic joint ventures. For additional information on Prospero, readers are encouraged to see the disclosure documents filed under the Company's profile at www.sedar.com, and to visit the Company's website at www.prosperosilver.com.

For further information, please contact:

William Murray
Chairman
Tel: 604-288-7813

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Neither the TSX nor its regulation services provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy and accuracy of this press release.
 
#September 14, 2016
THIS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES PROSPERO CLOSES $1.85 MILLION PRIVATE PLACEMENT

 September 14, 2016 - Vancouver, B.C. - Prospero Silver Corp. (TSXV: PSL) ("Prospero") is pleased to announce that it has closed its previously announced non-brokered private placement of 9.25 million units (the "Units") at a price of $0.20 per Unit, for gross proceeds of $1,850,000 (the "Offering"). Each Unit consisted of one common share (a "Share") and one non-transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional Share at an exercise price of $0.30 per Share for 3 years, subject to an acceleration provision under which, if at any time after January 15, 2017, its common shares close at a price at or above $0.60 per share for more than 20 consecutive trading days, Prospero may, within five days of such event, provide notice (the "Notice") to the holders of the Warrants that the Warrants will expire on the date which is 30 calendar days after the date of the Notice.

In connection with the Offering, Prospero entered into finder's fee agreements with three arm's length finders, Sprott Global Resource Investments, Ltd., Haywood Securities Inc. and Canaccord Genuity Corp. pursuant to which Prospero paid cash finder's fees aggregating a total of $107,400 and issued 249,000 warrants ("Finder's Warrants"). Each Finder's Warrant has the same terms as the Warrants issued under the Offering.

The net proceeds from the Offering will be used by Prospero to advance Prospero's existing project portfolio to drill-ready status, to expand the project portfolio by possible new acquisitions, and for general working capital purposes. Strategic joint ventures will also be sought.

All securities issued in connection with the Offering will be subject to a hold period expiring January 15, 2017.

About Prospero Silver Corp.:

Prospero is a Mexico-focused project generator listed on the TSX.V under the symbol PSL.V. Prospero's aim is to discover world-class precious metal projects in the major mineral belts of Mexico. The Company applies a unique blend of practical exploration experience, cutting-edge mineral deposit science, and an extensive knowledge of Mexico's geology to find new gold and silver systems. Our exploration programs are run by a small but highly-focused geological team based in Mexico.

For further information please contact:

William Murray
Chairman
Tel: 604-288-7813

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's proposed use of proceeds. 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. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, , possible, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise the additional funds in the future to continue to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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.
 

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