Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased
to announce the acquisition (through staking) of an additional 9,771 hectares in
the Santa Maria del Oro gold/silver district. The new ground lies to the west,
south and east of the historic, high-grade Magistral vein system. With this
addition, Prospero holds 16,124 hectares that virtually surround the historic
Magistral del Oro mines, records for which indicate historic grades exceeded 15
g/t Au from oxides ores mined through the mid 20th century.


Prospero has identified a major northwest trending lineament at least 12km in
length positioned under post-mineral cover 4 km to the west of the historic
Magistral del Oro mines, as reported in the Company's news release of November
23, 2011. A possible additional parallel lineament 6km long is present 3 km west
of the larger lineament and lies completely within the new claim. Additionally,
preliminary mapping in the eastern part of the district exhibits potential for
high-level epithermal targets and will also be evaluated by the Company's
exploration team.


The Company is currently carrying out a ground Mag survey on the property to
assist in defining targets for drilling. This work should be completed in the
first quarter of 2012.


Tawn Albinson, M.Sc., President of the Company, is a Qualified Person, as
defined in NI 43-101, and is responsible for the technical content of this press
release.


About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in
Mexico and who work for its wholly owned subsidiary Minera Fumarola, SA de CV
(Fumarola). Prospero's objective is to quickly evaluate the properties currently
optioned for their suitability to provide size potential and/or amenability for
strategic joint ventures.


Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the
meaning of Canadian securities legislation, relating to the closing of a
non-brokered Private Placement. Although the Company believes that such
statements are reasonable, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are statements that are not
historical facts; they are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "aims", "potential", "goal", "objective", "prospective", and similar
expressions, or that events or conditions "will", "would", "may", "can", "could"
or "should" occur, or are those statements, which, by their nature, refer to
future events. Factors that could cause actual results to differ materially from
these forward looking statements include, but are not limited to, variations in
the nature, quality and quantity of any mineral deposits that may be located,
the Company's inability to obtain any necessary permits, consents or
authorizations required for its planned activities, and the Company's inability
to raise the necessary capital or to be fully able to implement its business
strategies. The reader is referred to the Company's reports, publicly available
through the Canadian Securities Administrators' System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com, including the risk factors
discussed in Prospero's November 27, 2009 prospectus. Except as required by
securities laws and the policies of the TSX Venture Exchange, Prospero disclaims
any intention or obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
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