Mr. Duane Nelson of Silvermex reports

SILVERMEX AND GENCO ANNOUNCE NOVEMBER 16, 2010 CLOSING DATE

The combination of Silvermex Resources Ltd. and Genco Resources Ltd.'s respective businesses, which is being effected by way of a plan of arrangement in accordance with the Business Corporations Act (British Columbia), is scheduled to close on Tuesday, Nov. 16, 2010.

The following transaction steps are to be completed in sequence prior to the market open on Tuesday, Nov. 16, 2010:

• Genco will subdivide all of its outstanding common shares on a 1.1:1 basis, pursuant to which Genco will issue one-10th of an additional common share of Genco for each Genco common share held by Genco shareholders. The subdivision will take effect immediately prior to the completion of the arrangement. Accordingly, trades in Genco common shares not settled prior to market close on Nov. 15, 2010, will be settled in postsubdivision common shares. Letters of transmittal for the exchange of certificates of presubdivision common shares for postsubdivision common shares have been mailed to registered shareholders. Shareholders that do not have their common shares registered in their name, such as shareholders holding their shares through brokerage accounts, will not need to submit a letter of transmittal.
• Following the subdivision, the arrangement shall be effected, pursuant to which Genco will issue to Silvermex shareholders one common share of Genco in exchange for each Silvermex common share held. Accordingly, trades in Silvermex common shares not settled prior to market close on Nov. 15, 2010, will be settled in Genco common shares. Letters of transmittal for the exchange of certificates representing Silvermex common shares for Genco common shares have been mailed to registered Silvermex shareholders. Silvermex shareholders that do not have their Silvermex common shares registered in their name, such as shareholders holding their shares through brokerage accounts, will not need to submit a letter of transmittal.
• Following the closing of the arrangement, Genco will change its name to Silvermex Resources Inc. (New Silvermex).

As a result of the foregoing transaction steps, the former Genco shareholders will, in effect, receive 1.1 common shares of New Silvermex for each of their Genco common shares held, the former Silvermex shareholders will receive one common share of New Silvermex for each of their Silvermex common shares held and Silvermex will become a wholly owned subsidiary of New Silvermex.

Therefore, effective at the opening of trading on the Toronto Stock Exchange on Tuesday, Nov. 16, 2010, the common shares of New Silvermex will start trading under the new name, new stock symbol and new Cusip number as follows:

New name:  Silvermex Resources

New stock symbol:  SLX

New Cusip:  828426 10 6

The last trading session for common shares of the company will be on Monday, Nov. 15, 2010, after which time the common shares of the company will be delisted from the TSX Venture Exchange and exchanged into common shares of New Silvermex.

Further details regarding the business combination and the arrangement are set out in Silvermex's notice of annual and special meeting, and management information circular dated Oct. 6, 2010, and Genco's notice of special meeting and management information circular dated Oct. 8, 2010, which are available on SEDAR.