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

News Releases

#September 28, 2019
Fortuna Silver Terminates Pachuca SE Option Agreement

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

September 28, 2016 - Vancouver, B.C. - Prospero Silver Corp (PSL.V; “the Company” or “Prospero”) announces that Fortuna Silver Mines Inc (NYSE: FSM, TSX: FVI, “Fortuna”) has terminated the property option agreement for the Pachuca SE project which was signed in January, 2019 (see Prospero news release dated January 25, 2019). Fortuna has not earned an interest in the Pachuca SE property.

Prospero’s management is currently considering the Company’s options with respect to exploration activities.

About Prospero

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.

File: http://www.prosperosilver.com/i/pdf/2019-09-28-News-Release.pdf
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#September 17, 2019
Prospero Provides Drilling Update for the Pachuca SE Project Identifies a Fully Preserved Epithermal Mineralized Zone

 September 17, 2019. Prospero Silver Corp. (TSX.V: PSL; "The Company" or "Prospero") is pleased to provide an update on a recent diamond-drilling program at its Pachuca SE project in Hidalgo state, Mexico, which was funded by PSL's strategic partner, Fortuna Silver Mines Inc.  The first 3 holes, which were drilled in 2018, identified a new epithermal system at Pachuca (see news releases dated March 14 and 29, 2018). An additional 8 holes (5,933m) were drilled in 2019 to target a potential blind, epithermal mineralized ore zone at depth.  The Pachuca SE target lies about 20km southeast of the Vizcaina vein, one of the largest silver-rich epithermal veins globally.

Tawn Albinson, the President of Prospero Silver commented: "We are pleased with the latest set of results from Pachuca SE. Holes 1, 2, 3, 10, & 11 have highlighted interesting precious metal grades over intervals of up to 24.9m downhole, indicating prospective other deeper targets for future drilling, although the strike extent is unknown at the moment. We'll be discussing the implications of the current results with Fortuna soon."

The diamond drilling completed to date at Pachuca SE indicates that one or more mineralized epithermal zones are present in the project area. The top of the mineralized zone appears to be located at a similar elevation, roughly 200m below surface, in both the southern Varal and northern Aguayutla areas. Alteration at depth is typical of a high-level epithermal environment with an upper smectite/montomorillonite zone, zoning downwards into high-crystallinity illite and kaolinite alteration zones which appear structurally controlled and associated with the silicified mineralized zones.

Assay results have now been received for the 8 holes drilled in 2019 (PSE-19-04 to 19-11). Drill highlights from the 2018 and 2019 drilling campaigns include:

Table 1. Drill highlights, 2018 / 2019

Hole No. From (m) To (m) Interval (m)* Au g/t Ag g/t
PSE-18-01 147.40 148.80 1.35 0.27 227.0
PSE-18-02
and
657.20
660.00
657.50
671.20
0.30
11.2
1.04
0.39
193.0
33.0
and 695.20 695.95 0.75 6.40 72.0
PSE-18-03 407.35 408.85 1.50 0.25 121.3
including 408.00 40.8.20 0.20 1.74 870.0
PSE-19-05 781.50 782.28 0.78 0.02 83.2
PSE-19-08 437.85 439.35 1.50 0.28 46.2
PSE-19-09 524.60 525.00 0.40 0.49 23.5
PSE-19-10
PSE-19-11
600.20
593.40
600.55
595.20
0.35
1.80
1.69
0.58
675.0
143.8
  • True widths of most intersections vary from 60% to 83% of the intersected widths

No significant results were returned from hole PSE-19-4.  For more complete results see Table 2 at the end of this news release.

Cross sections for all holes, a table of drill collar locations, dips and azimuths, and complete drill assay data are available on Prospero's website here: http://www.prosperosilver.com/s/Pachuca-SE.asp.

Varal West zone

Holes PSE-18-01, PSE-1904 & 05

These holes explored Varal West ridge at depth and below structures mapped in an active clay mine. Hole 04 cut a number of structurally controlled argillic alteration zones but no veins or silicification. Hole 05 cut 2 vein zones, one with low grades (0.78m @ 83.2ppm Ag). Hole 01 returned a best intersection of 1.35m @ 0.27ppm Au + 227ppm Ag from 147m downhole.

Hole PSE-19-06

This hole targeted the structures and argillic alteration seen in hole PSE-18-01, but 400m further east. Strong wall rock silicification with free quartz between 399m to 455m returned 1.48m @ 15.3ppm Ag from 399m downhole.

Varal East Zone

Holes PSE-18-02, PSE-19-07& 08

Drilled under the Varal East target, all 3 cut silicification, quartz veins and anomalous precious metal geochemistry. Hole 02 returned 0.75m @ 6.4ppm Au + 72ppm Ag, and 11.2m @ 0.39ppm + 33ppm Ag. The intersections suggest the presence of a mineralized zone with a vertical distribution of at least 400m between 200m and 600m below surface. Hole 08 cut at least 400m of the Upper Rhyolitic Sequence which is completely absent in holes PSE-19-02 and 07, indicating a major south dipping structure that down-dropped the southern part of the Varal East ridge.

Hole PSE-19-09

Hole PSE-19-09 intersected the same vertical column of the Upper Rhyolitic Sequence as seen in Hole 08. Technical problems prevented the hole from reaching the vein/fault present in Hole 02.

Hole PSE-19-10

Drilled to explore the link or "jog" area between Varal East and Varal West zones. Hole 10 ended at 613m. The bottom zone of the hole from 596.9m to 609.5m intersected a 12.7m wide silicified zone with quartz veinlets which returned 0.08ppm Au and 24ppm Ag, including 0.35m @ 1.69ppm Au and 675ppm Ag from 600.2m downhole.

Northern Target Zone

Holes PSE-18-03 & PSE-19-11

These holes were drilled in the northern Aguayutla zone where anomalous Au and Ag was identified at surface in argillic caps, and to follow up high grade intersections seen in the first round of drilling in 2018. Hole PSE-18-03 cut multiple intersections with anomalous Au and Ag with a highlight of 0.20m @1.74ppm Au and 870ppm Ag from 408m downhole. Hole PSE-19-11 was drilled150m east of Hole 03. Two mineralized zones were intersected in hole 10.The upper zone cut 4.2m@ 0.30 ppm Au + 78.0ppm Ag from 592.7m downhole, including 1.80m with 0.58ppm Au and 143.8ppm Ag. The lower zone cut21.75mof silicified wallrock and small quartz veinlets with visible base metal sulfides from 820.7m downhole. The wider veins (0.13m to 0.6m wide) assay between 13.3ppm to 55ppm Ag and up to 0.14ppm Au.

Summary - Future Drilling

The 2018/2019 drilling indicates that a district-wide preserved epithermal mineralized zone is present at depth in the Pachuca SE project area. Fluid inclusion and alteration mineralogy data indicate that the top of the mineralized zone at Varal and Aguayutla is at a similar elevation, roughly 200m below surface at elevation 2350m, and the paleo-water table was about 100m above the top of the Varal ridge. Alteration at depth is typical of a high-level epithermal environment: an upper smectite/montomorillonite zone, zoning downward into structurally-controlled illite and kaolinite alteration zones associated with the silicified zones. Based on this model, Prospero's geologists have identified a number of additional drill targets:

  • The southern sector of the Varal East target area may be down dropped by at least 300m to the south by a fault that drops the Upper Rhyolitic Sequence. A proposed hole 200msouth of the pad of PSE-19-08 would investigate the fault displacement and its potential to host a larger vein.
  • Hole PSE-19-06 identified a potential structure with about 200m vertical displacement, hosting  anomalous geochemistry and kaolinite alteration. This may be the eastward extension of the fault mapped in the active clay mine. Prospero is proposing a hole to cut the structure 200m-250m deeper, closer to the postulated mineralized zone.
  • The results of holes PSE-18-03 & PSE-19-11 in the northern sector are encouraging, and indicate that a precious metal mineralized zone occurs between 200m and 600m below surface which requires additional drilling along strike. An historic  cross-cut, about 120m long, and a winze had been developed along a major fault structure that displaces stratigraphy at surface. The fault may have been cut in both holes. Prospero is proposing drilling a hole from a pad between holes PSE-18-03 and PSE-19-11, but 100-150m further west to cut the mineralized structures at depth.
  • Hole PSE-19-10 cut mineralization within the "jog" zone between Varal East and Varal West zones. A similar longer hole is warranted 100m to the southeast of Hole 10.

Table 2. Drill collar coordinates.

PACHUCA SE PROJECT. DDH SUMMARY 2019  
DDH East North Depth - mts. Elev - mts. Azimuth Inclination From- To Width /m* Au ppm Ag ppm
PSE-18-01 548491 2213592 453.85 2605 200 -65° 147.4-148.8 m 1.35 0.27 227.0
210.75-211.8 m 1.05 0.02 23.8
428.85-430.4 m 1.55 0.02 33.6
PSE-18-02 549449 2213038 932.95 2567 175 -51° 657.20-657.5 m 0.30 1.04 193.0
660.00-671.20 m 11.2 0.39 33.0
695.20-695.95 m 0.75 6.40 72.0
PSE-18-03 548545 221563 453.10 2569 180 -47° 201.00-201.30 m 0.30 0.08 18.0
281.24-281.32 m 0.08 0.35 30.5
353.45-355.35 m 1.90 0.07 17.3
407.35-408.85 m 1.50 0.25 121.3
Including 0.20 1.74 870.0
PSE-19-04 548747 2213342 748.50 2619 170 -47° NS NS NS NS
PSE-19-05 548574 2213487 916.95 2586 170 -55° 779.45-786.70 m 7.25 0.02 29.0
Including 0.78 0.02 83.2
PSE-19-06 548961 2213802 739.55 2579 180 -50° 399.02-400.50 m 1.48 0.02 15.3
427.00-427.10 m 0.10 0.02 16.0
454.10-455.20 m 1.10 0.02 11.2
462.30-462.40 m 0.10 0.02 30.1
642.10-643.50 m 1.40 0.02 9.4
PSE-19-07 549610 2213046 939.60 2549 180 -56° 419.60-420.05 m 0.45 0.02 16.2
689.00-690.00 m 1.00 0.04 12.4
696.60-697.20 m 0.60 0.64 23.4
PSE-19-08 549523 2212235 483.20 2600 0 -50° 432.30-439.35 7.05 0.12 27.4
Including 1.50 0.28 46.20
464.35-466.55 m 2.20 0.03 13.3
476.00-483.2 m 7.20 0.05 17.2
PSE-19-09 549857 2212229 600.85 2584 -50° 430.85-432.30 m 1.10 0.13 26.6
512.00-513.30 m 1.30 0.08 11.2
524.60-525.00 m 0.40 0.49 23.5
545.50-548.50 m 3.00 0.10 14.3
PSE-19-10 549418 2213081 613.00 2549 210 -48° 596.85-609.50 m 12.65 0.08 24.0
Including 0.35 1.69 675.0
PSE-19-11 548699 2215725 891.05 2564 180 -50° 592.70-596.90 m 4.20 0.30 78.0
including 1.80 0.58 143.8
TOTAL 7772.65
  • True widths of most intersections vary from 60% to 83% of the intersected widths

QA/QC

A quality control program involving best practices in the sampling and analysis of drill core was implemented on these drilling programs. All drill core was photographed and logged prior to sampling. Standard sampling protocol involved halving of all drill core and sampling over a maximum width of 1.5 meter intervals, with one half of the core being placed in a sealed sample bag and dispatched to the analytical laboratory for analysis. Samples were shipped to the ALS-Chemex Laboratories in North Vancouver, B.C. for analysis. All samples were assayed for multi-elemental ME-ICP41. Silver assays in excess of 100 g/t were reanalyzed by HF-HNO3-HCLO4 digestions with HCL leach and ICP-AES finish. Samples that return values greater than 1500 g/t are further analysed by fire assay with a gravimetric finish. Gold values greater than 10g/t are reanalyzed by ICP21 (Inductively Induced Plasma-Atomic Emission Spectroscopy), which consists of a 30 gram fire assay with an ICP-AES finish. Silver, lead, zinc, and copper values in excess of 100ppm, 1%, 1%, and 1% respectively are repeated with aguaregia digestion and with ICP-AES (Code OG46). Standards, blanks, and duplicates were inserted one each every 22 samples.

Qualified person

Tawn Albinson, MSc, president of the company, is a qualified person, as defined in National Instrument 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. Mr. Albinson has verified the data disclosed, and the sampling, analytical and test data underlying the information or opinions contained herein by completing on-site visits to Pachuca SE, reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process.

About Fortuna Silver Mines Inc.

Fortuna is a growth-oriented, precious metals producer focused on mining opportunities in Latin America. The company's primary assets are the Caylloma silver mine in southern Peru, the San Jose silver-gold mine in Mexico and the Lindero gold project, currently under construction, in Argentina.

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 drilling update. 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.


View News Release in PDF Format:
File: http://www.prosperosilver.com/i/pdf/Pachuca-SE-Sept-16-2019.pdf
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#February 12, 2019
Prospero Provides Update On Option Agreement With Fortuna

 February 12, 2019 -- Vancouver, B.C. - Prospero Silver Corp (TSX-V: PSL.V; the "Company" or "Prospero") is pleased to announce that, further to its press release of January 25, 2019, the Company has received TSX Venture Exchange acceptance of the option agreement with Fortuna Silver Mines Inc. ("Fortuna"), pursuant to which Fortuna can earn up to a 70% interest in the Company's Pachuca South East Property located in Hidalgo State, Mexico.

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 Fortuna Silver Mines Inc.

Fortuna is a growth-oriented, precious metals producer focused on mining opportunities in Latin America. The company's primary assets are the Caylloma silver mine in southern Peru, the San Jose silver-gold mine in Mexico and the Lindero gold project, currently under construction, in Argentina.

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, 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.
File: http://www.prosperosilver.com/i/pdf/2019-02-12-NR.pdf
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#January 25, 2019
Prospero And Fortuna Sign Option Agreement For Pachuca SE Project, Hidalgo, Mexico

 January 25, 2019 -- Vancouver, B.C. - Prospero Silver Corp (PSL.V; the "Company" or "Prospero") is pleased to announce that the the option agreement announced on December 10, 2018 (the "Option Agreement") between Prospero and Fortuna Silver Mines Inc. ("Fortuna") has been signed by both parties. The Option Agreement is subject to the acceptance of the TSX Venture Exchange.

On December 10, 2018 Prospero announced that Fortuna Silver Mines Inc. ("Fortuna") exercised its right to be granted an option to acquire up to a 70-per-cent interest in the Pachuca Southeast project located close to the historic mining city of Pachuca in Hidalgo state, Mexico, by spending a total of $8-million (U.S.) in qualifying expenditures and completing a preliminary economic assessment, with a minimum spend of $1-million in the first year.

On January 21, 2019 Prospero announced that a drill rig had arrived on site and drilling had begun. A six hole, 4,200m program is underway test a number of potential vein targets.

Pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions ("MI 61-101"), which is incorporated by reference into the policies of the TSX Venture Exchange under Policy 5.9, the Option Agreement constitutes a "related party transaction" as a result of Fortuna presently holding in excess of 26% Prospero's outstanding common shares. Prospero is relying on the formal valuation exemption in Section 5.5(a) of MI 61-101 and upon the minority approval exemption in Section 5.7(a) of MI 61-101. These exemptions are available as, at the time the subject transaction was agreed to, neither the fair market value of the subject matter of, nor the fair market value consideration for the transaction, insofar as it involves interested parties, exceeded 25% of Prospero's market capitalization.

About Pachuca SE

The 6,669-hectare Pachuca Southeast land package is 24 kilometres southeast of the city of Pachuca, Hidalgo, along strike from the historic Pachuca-Real del Monte epithermal vein camp, one of the world's largest epithermal precious metal deposits. The local geology at Pachuca Southeast is typical of the high-level epithermal environment seen over the Pachuca-Real del Monte mines. Prospero's land package covers at least six to seven kilometres of linear, structurally controlled argillic alteration caps at surface, which Prospero's team considers are the surface expression of blind, low-sulphidation, epithermal-style veining. Infrastructure is excellent, with nearby major power lines and a major freeway.

Epithermal-style argillic alteration is associated with anomalous Au, Ag and Zn geochemistry, exposed in an erosional window into an andesitic and felsic volcanic pile. The anomalous geochemistry and clay alteration are essentially identical to that seen in the Vizcaina structure above the Pachuca Mine. Prospero's technical team have mapped hydrothermal alteration and geochemical anomalies associated with structures which indicate the alteration could host a preserved Pachuca-type epithermal deposit at depth. The first hole of Phase 2 will target Varal West, a series of silicified rhyolite reef structures with alunite alteration. Varal West is located approximately 1 km west and along strike of the veins intersected in PSE-18-02.

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 Fortuna Silver Mines Inc.

Fortuna is a growth-oriented, precious metals producer focused on mining opportunities in Latin America. The company's primary assets are the Caylloma silver mine in southern Peru, the San Jose silver-gold mine in Mexico and the fully--permitted Lindero gold project in Argentina.

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 contemplated TSX Venture Exchange acceptance of the Option Agreement, and the recently commenced 4,200m drilling program no the Pachuca SE property. 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.
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#January 21, 2019
Prospero Begins Second Phase Drilling at Pachuca SE Project, Hidalgo State, Mexico

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

January 21, 2019 -- Vancouver, B.C. - Prospero Silver Corp (PSL.V; the "Company" or "Prospero") is pleased to announce that Phase 2 drilling has started at the Pachuca SE project, close to the historic mining city of Pachuca in Hidalgo State, Mexico.

On December 10, 2018 Prospero announced that Fortuna Silver Mines Inc. ("Fortuna") exercised its right to be granted an option to acquire up to a 70-per-cent interest in the Pachuca Southeast project located close to the historic mining city of Pachuca in Hidalgo state, Mexico, by spending a total of $8-million (U.S.) in qualifying expenditures and completing a preliminary economic assessment, with a minimum spend of $1-million in the first year.

Prospero has mobilized a drill rig which arrived at Pachuca SE in early January. A six hole, 4,200m program started on January 14 to test a number of potential vein targets. In Q1 2018, Prospero, with financing provided by Fortuna, completed a 1,800-metre drill program (three holes) testing three distinct targets with deep, angled holes. Drill collar maps and draft sections for the Pachuca drill holes are available at Prospero's website. PSE-18-01 and PSE-18-03 each cut the possible tops of new vein systems. PSE-18-02 intersected three argillic caps in the shallow portion of the hole and three mineralized veins at depth. For full results of the drill program, please see the company's press releases dated March 14, 2018, and March 29, 2018.

Tawn Albinson, the President of Prospero commented: "Our 2018 program appears to have successfully cut the upper parts of a series of blind epithermal veins hosting silver and gold mineralization. This is particularly exciting given how close the project is to the historic Pachuca-Real Del Monte camp. The current Phase 2 program is designed to follow up on the 2018 hits and to drill test a number of additional altered structures that weren't tested in Phase 1. I look forward to reporting on the drilling during Q1."

The 6,669-hectare Pachuca Southeast land package is 24 kilometres southeast of the city of Pachuca, Hidalgo, along strike from the historic Pachuca-Real del Monte epithermal vein camp, one of the world's largest epithermal precious metal deposits. The local geology at Pachuca Southeast is typical of the high-level epithermal environment seen over the Pachuca-Real del Monte mines. Prospero's land package covers at least six to seven kilometres of linear, structurally controlled argillic alteration caps at surface, which Prospero's team considers are the surface expression of blind, low-sulphidation, epithermal-style veining. Infrastructure is excellent, with nearby major power lines and a major freeway.

Epithermal-style argillic alteration is associated with anomalous Au, Ag and Zn geochemistry, exposed in an erosional window into an andesitic and felsic volcanic pile. The anomalous geochemistry and clay alteration are essentially identical to that seen in the Vizcaina structure above the Pachuca Mine. Prospero's technical team have mapped hydrothermal alteration and geochemical anomalies associated with structures which indicate the alteration could host a preserved Pachuca-type epithermal deposit at depth. The first hole of Phase 2 will target Varal West, a series of silicified rhyolite reef structures with alunite alteration. Varal West is located approximately 1 km west and along strike of the veins intersected in PSE-18-02.

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 Fortuna Silver Mines Inc.

Fortuna is a growth-oriented, precious metals producer focused on mining opportunities in Latin America. The company's primary assets are the Caylloma silver mine in southern Peru, the San Jose silver-gold mine in Mexico and the fully--permitted Lindero gold project in Argentina.

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.

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