| ||March 31, 2009|
Orko Silver Corp. Acquires 100% of San Juan
| ||VANCOUVER, British Columbia - Orko Silver Corp.("Orko") -- (TSX.V - OK) announces that it has signed an agreement with Silver Standard Resources Inc. to acquire a 100% interest in the San Juan Property located immediately west of Orko Silver's La Preciosa project.|
The terms of the agreement provides for the transfer of the remaining 25% interest not currently controlled by Orko Silver for the lump sum purchase price of US $250,000, such sum to be paid by the issuance of Orko Silver capital stock, each share having an attributed value of CA $1.03. The agreement is subject to approval by the TSX Venture Exchange, and the issued shares will be subject to a four month plus one day resale restriction under applicable securities laws in Canada and any other resale restrictions that may be imposed by the TSX Venture Exchange.
Gary Cope, President of Orko, states that "We are extremely pleased to have reached this agreement with Silver Standard to enhance and consolidate our property holding immediately west of La Preciosa. We believe that this acquisition will be of great benefit to Orko Silver shareholders".
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, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact Orko Silver Corp. at (604) 684-4691 or Via email at [email protected] or visit 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. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 000-51923, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
You can view the Next News Releases item: Thu Apr 2, 2009, Orko Silver Corp. Announces Intention to Terminate Securities and Exchange Commission Reporting Obligations in the United States
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