PSL Prospero Silver Corp

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES

Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased
to announce that it intends to complete a non-brokered private placement of up
to 5,000,000 units at a price of $0.05 per unit, for aggregate gross proceeds of
up to CDN $250,000. Each unit will consist of one common share and one full
warrant, each warrant exercisable by the holder to acquire one additional common
share at a price of $0.10 per warrant for a period of 12 months from the date of
closing. 


If for any time from four months and one day after the closing of the financing,
the volume weighted average trading price of the Company's common shares on the
TSX Venture Exchange over a period of 20 consecutive trading days exceeds $0.20
the Company may, within five days of such event, provide notice to the warrant
holders that the warrants will expire early, namely on a date which is 30
calendar days after the date of such notice to the warrant holders.


No finder's fees will be paid on any, all or part of the placement. 

The Company plans to use the net proceeds from this private placement for the
overhead support required for entering into new joint ventures, ongoing property
acquisitions, field work on its El Petate and Pachuca S-E Project as well as for
general working capital.


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

About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in
Mexico and who work for its wholly owned subsidiary MineraFumarola, 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 secure sufficient subscriptions from subscribers to complete the
above-described private placement, or otherwise 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. 


THE SHARES BEING OFFERED FOR SALE MAY ONLY BE PURCHASED BY CANADIAN RESIDENTS,
OFFSHORE RESIDENTS AND RESIDENTS OF THE UNITED STATES OF AMERICA, IN EACH CASE
PURSUANT TO AVAILABLE EXEMPTIONS UNDER APPLICABLE SECURITIES LEGISLATION.


NONE OF THE SHARES OFFERED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE.


THESE SECURITIES HAVE NOT BEEN APPROVED NOR DISAPPROVED BY THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS
THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES
COMMISSION PASSED UPON THE ACCURACY AND ADEQUACY OF THE INFORMATION CONTAINED
HEREIN. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.


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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