Mr. Derek Iwanaka reports

PRINCE SILVER CLOSES UPSIZED $4.75 MILLION PRIVATE PLACEMENT

Prince Silver Corp. has closed its previously announced upsized non-brokered private placement for total gross proceeds of $4.75-million.

In connection with the closing, the company issued an aggregate of 6,785,713 units at a price of 70 cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at an exercise price of $1 for a period of two years from the date of issuance.

The warrants are subject to an acceleration clause, whereby, if the closing price of the company's common shares equals or exceeds $1.40 for 10 consecutive trading days, the company may accelerate the expiry date of the warrants to a date that is not less than 30 days following notice to warrantholders through news release or such later date as stated in such news release. All securities issued under the offering are subject to a statutory hold period of four months and one day in accordance with applicable securities laws.

Derek Iwanaka, chief executive officer and a director of Prince Silver, commented: "This upsized financing places Prince in a very strong position. With a treasury of over $8-million, we are now fully funded for a second phase of reverse circulation exploration and infill drilling this year while also advancing toward a maiden mineral resource estimate and ongoing metallurgical work. The strong participation from our founders and insiders reflects the confidence in the scale and potential of the Prince silver project."

The net proceeds from the offering will be used to advance the second phase of drilling at the Prince silver project, to complete a maiden mineral resource estimate, to conduct continuing metallurgical work and for general working capital purposes. Finders' fees may be paid in accordance with applicable securities laws and exchange policies.

About Prince Silver Corp.

Prince Silver is a silver exploration company advancing its past-producing Prince silver-zinc-manganese-lead mine in Nevada, United States. Featuring near-surface mineralization that was historically drill tested by over 129 holes and is open in all directions, the Prince project offers a clear path toward a maiden National Instrument 43-101-compliant resource estimate. The company also holds an interest in the Stampede Gap project, a district-scale copper-gold-molybdenum porphyry system located 15 kilometres north-northwest of the Prince silver project, highlighting Prince Silver's focus on high-potential, strategically located exploration assets.

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