Prince Silver closes $1.25-million private placement

Mr. Ralph Shearing reports PRINCE SILVER CORP. ANNOUNCES CLOSING OF $1.25 MILLION NON-BROKERED PRIVATE PLACEMENT Prince Silver Corp. has closed its previously announced non-brokered private placement for total gross proceeds of $1.25-million. The company issued 3,125,000 units at a price of 40 cents per unit. Each unit consists of one common share and one-half common share purchase warrant, with each whole warrant exercisable to acquire one common share at a price of 60 cents for a period of 12 months from the date of issuance. In connection with the private placement, the company paid aggregate cash finders' fees of $16,695, representing 7 per cent of the proceeds raised from certain arm's-length subscribers. All securities issued under the private placement are subject to a hold period of four months and one day from the date of issuance pursuant to applicable securities laws and the policies of the Canadian Securities Exchange. The net proceeds from the private placement will be used to increase the planned reverse circulation drill program from 6,500 metres (20,000 feet) to approximately 8,200 metres (27,000 feet) at the company's 100-per-cent-owned Prince silver project in Nevada, United States, and for general corporate working capital purposes. About Prince Silver Corp. Prince Silver is a silver exploration company focused on advancing the Prince silver project in Nevada, United States. The known deposit identified with historic drilling is open in all directions and is near surface. Prince Silver also holds interest in the Stampede Gap project, a district-scale copper-gold-molybdenum porphyry system located approximately 15 kilometres from the Prince silver project, and holds an option interest in the Broken Handle project, an early-stage mineral exploration project located in Southern British Columbia, Canada. We seek Safe Harbor.