Mr. Duane Nelson reports

SILVERMEX RESOURCES $15 MILLION FINANCING FULLY SUBSCRIBED

Silvermex Resources Inc.'s private placement announced in Stockwatch on Nov. 26, 2010, has been fully subscribed, including an overallotment option, for gross proceeds of approximately $15-million.

Institutional investors, including Sprott Asset Management Inc., have subscribed for the majority of the private placement. MGI Securities Inc. is acting as lead agent on the offering.

Proceeds from the offering will be used to advance the company's wholly owned La Guitarra mine located in the Temascaltepec mining district of Mexico and the company's Rosario/San Marcial mining camp located in southeastern Sinaloa, Mexico. The proceeds will also go toward general working capital purposes.

Closing of the financing is subject to Toronto Stock Exchange approval. The securities to be issued in the private placement will all be subject to a four-month hold period in accordance with applicable Canadian securities laws.