Mr. Nicholas Rodway reports

CORE SILVER ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Core Silver Corp. has completed its previously announced non-brokered private placement offering, pursuant to which the company issued an aggregate of eight million units at a price of 25 cents per unit for total gross proceeds of $2-million.

Each unit comprises one common share of the company and one transferable share purchase warrant, with each warrant exercisable to acquire one additional share of the company at a price of 31.5 cents per share for a period of 24 months from the date of issuance. No finders' fees were paid in connection with the offering. The net proceeds from the offering are expected to be used for general working capital purposes and property exploration.

All securities issued in connection with the offering are subject to a statutory hold period of four months and one day from the date of issuance.

Certain insiders of the company participated in the offering and subscribed for an aggregate 1,855,000 units for total gross proceeds of $463,750. Nicholas Rodway, the chief executive officer and a director of the company, acquired 80,000 units, Joshua Vann, the vice-president of business development and strategy, and a director of the company, acquired 175,000 units, and Crescat Portfolio Management LLC, a shareholder owning over 10 per cent of the company's issued and outstanding shares, acquired 1.6 million units, each of which constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The issuance to the insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b) as the company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related parties did not exceed 25 per cent of the company's market capitalization

The company also announces that it has, with the consent of the applicable holders, cancelled an aggregate 1,039,500 stock options held by certain officers, directors and consultants of the company. The cancelled options are detailed in the attached table.

About Core Silver Corp.

Core Silver is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The company currently holds a 100-per-cent ownership in the Blue property, which covers a land area of 114,074 hectares (approximately 1,140 square kilometres). The Blue property lies within the Atlin mining district, a gold mining camp located in the unceded territory of the Taku River Tlingit First Nation and the Carcross/Tagish First Nation. The Blue property hosts a major structural feature known as the Llewellyn fault zone (LFZ). This structure is approximately 140 kilometres in length and runs from the Tally-Ho shear zone in Yukon south through the Blue property to the Alaskan Panhandle Juneau ice sheet in the United States. Core Silver believes that the south Atlin Lake area and the LFZ have been neglected since the last major exploration campaigns in the 1980s. The LFZ plays an important role in mineralization of near-surface metal occurrences across the Blue property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn and carbonate replacement type deposits both globally and in B.C.'s Golden Triangle. The company has leveraged this information at the Blue property to tailor an already proven exploration model and believes this could facilitate a major discovery. Core Silver is excited to become one of the Atlin mining district's premier explorers, where its team believes there are substantial opportunities for new discoveries and development in the area.

We seek Safe Harbor.