| ||December 16, 2010|
Increase in Silver Price has lead to a Re-evaluation of the Proposed Mining Methods for La Preciosa
| ||VANCOUVER, British Columbia - Orko Silver Corp. (TSX.V - OK) is very pleased to|
see the recent strength in the price of silver. Many research analysts are predicting that the fundamentals of the supply and demand for silver will continue to be strong over the next 5 to 10 years. This will clearly have an impact on the economic assessment of Orko's La Preciosa Silver-Gold Deposit in Durango, Mexico.
Orko has a joint-venture with Pan American Silver Corp. (TSX -- PAA) for the design and mine development of La Preciosa. Pan American has been conducting engineering and community relations work since June 2009 and can earn a 55% interest in the JV by bringing La Preciosa into production. Orko retains a 45% interest carried to production.
Due to the recent major increases in silver and gold prices, the Preliminary Assessment (PA) for La Preciosa will be rescheduled to the second quarter of 2011. This will give Pan American and its technical consultants sufficient time to examine various alternate mining methods and extraction scenarios. The three main approaches are to examine the mining as i) an underground operation, ii) a combined underground / open-pit operation, or iii) a large open-pit operation.
Gary Cope, President of Orko, states; "This rescheduling of the PA for a few months is a logical step to ensure that multiple choices in design are available for the resource model, mine layout and processing plant."
A variety of engineering and geological consulting firms have been contracted to study the approaches for mining at La Preciosa. Most recently, Snowden Group of Vancouver, Canada, has joined the team.
Diamond drilling by Major Drilling International has continued through the fourth quarter of 2010. As of the end of November, Pan American has completed over 88,000 metres of diamond drilling at La Preciosa. Combined with Orko's 2005-2008 drilling of 154,000 metres, the project has now passed the 242,000 metre mark.
Ben Whiting, P.Geo., is the Qualified Person for Orko Silver Corp. and takes
responsibility for the technical disclosure in this news release.
About Orko Silver Corp.
Orko Silver Corp. is developing one of the world's largest primary silver deposits, La Preciosa, located near the city of Durango, in the State of Durango, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact Orko Silver Corp. at (604) 687-6310 or
Via our website on line at www.orkosilver.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for this News Release. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward looking statements address future events and conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those currently anticipated in such statements. Orko relies upon litigation protection for forward-looking statements.
*Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. Mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms
in this press release, such as "measured", "indicated", and "inferred" resources, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC.
You can view the Next News Releases item: Wed Feb 9, 2011, Orko has Retained the Services of AMEC for a Review of La Preciosa
You can view the Previous News Releases item: Mon Oct 18, 2010, Engineering Studies Advance on La Preciosa Silver Project: Additional High-Grade Intercepts Include 3.59 Metres Grading 1,040 g/t Silver-Equivalent
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