Mr. Robert Archer reports

GREAT PANTHER ANNOUNCES MANAGEMENT CHANGE

Robert Archer, co-founder and chief executive officer of Great Panther Silver Ltd., will resume the role of president and CEO upon the resignation of Martin Carsky, president, effective immediately. Mr. Carsky has resigned for personal reasons but has agreed to remain as a consultant to the company for a few months to assist with the transition of responsibilities.

"Martin has made a significant contribution to our company through a challenging period. He has built a strong team in operations, health and safety, and financial management during his tenure," said Mr. Archer. "While we have begun to see encouraging progress due to operational efficiencies, grade control and cost reductions, we continue to review all areas of our business with the aim of reducing overall costs even further and remain committed to long-term profitability and growth."

Initiatives to improve grade control at the company's two operating mines, Guanajuato and Topia, are being implemented. Mining contracts at Guanajuato are currently under review with the objective of reducing site costs in the second half of the year. Plans for the development and ramp-up of production at San Ignacio remain on track, and drilling at El Horcon is progressing well, with initial results to be released in the near future.