Oro Silver to Target High-Grade Silver Potential at El Compas Project, Mexico

VANCOUVER, BRITISH COLUMBIA, Oct 05 (MARKET WIRE) --
- Previous diamond drilling by Minera Hochschild Mexico S.A. de C.V. on
the EC2 target located approximately 1 kilometre east of the El Compas
mine portal intersected silver vein mineralization; 0.9 m quartz vein
returned 703 g/t silver and 4.07 g/t gold at a depth of 425 m below
surface.

- El Compas is situated within the world-class Zacatecas-Fresnillo silver
belt where deep drilling has led to spectacular discoveries of high-grade
silver and gold mineralization.

Oro Silver Resources Ltd. ("Oro Silver" or the "Company") (TSX VENTURE:
OSR) plans to drill both near-surface gold-silver vein targets and deeper
silver targets at the Company's El Compas project in Zacatecas State,
central Mexico. Oro Silver is currently conducting a staged program that
includes structural mapping, clay sample analysis, and IP-magnetometry
geophysics. Up to 5,000 metres of diamond core and reverse circulation
drilling will follow. Approximately half of the drilling will explore for
potential silver targets deeper in the El Compas district.

About El Compas

El Compas project, which covers 34 square kilometres, is a recent
gold-silver producer located in Zacatecas State within one of Mexico's
primary silver belts. Five mines - Fresnillo, Francisco Madero, El Bote,
Malanoche/Cozamin and Vetagrande - as well as MAG Silver's major
silver-gold discovery at its Juanicipio project are located within this
belt to the north and west of El Compas (see map:
http://www.orosilver.com/userfiles/3D_google_looking_NW.jpg). These
underground mines collectively produced more than one billion ounces of
silver, Fresnillo being one of the largest silver mines in the world. El
Compas, which has principally been explored and mined for gold near
surface, will now also be tested for deeper silver vein potential.

Exploration and project development milestones accomplished to date
include:

- 5,969 metres of diamond drilling, testing three of ten vein targets (El
Compas, El Orito, and EC-4);

- The true width of veins average 7.2 metres for the El Compas vein and
3.3 metres for the El Orito vein;

- To date the gold-silver bearing vein zone at El Compas is at least 200
metres long with vertical depth continuity down to 150 metres below
surface, and remains locally untested at depth. The veins are exposed at
surface and can be accessed by adits and ramps;

- The El Orito gold-silver vein zone is 360 metres long and mineralized
down to 100 metres below surface. Visible gold was observed in veins
intersected in the latest drill holes 09COM038 and 41. The El Orito vein
zone remains untested to the south and locally at depth;

- The current National Instrument 43-101 resource at El Compas (using a
three-gram-per-tonne gold-equivalent cut-off) stands at 65,000
gold-equivalent ounces in the indicated category (grading 5.82 grams per
tonne gold and 59.09 grams per tonne silver) and 41,200 gold-equivalent
ounces in the inferred category (grading 4.94 grams per tonne gold and
45.69 grams per tonne silver);

- Metallurgical testwork on the El Compas vein material has confirmed
high recovery by gravity separation and cyanidation, ranging from 92 to
98 per cent for gold and 50 to 71 per cent for silver;

- Oro Silver has completed an in-house preliminary mine design and cost
estimation to produce an economic assessment with cash flow analysis.

A drill contract is being negotiated and a more definitive program will
be announced following this release.

About Oro Silver

Oro Silver is a silver exploration company pursuing silver-based
exploration and development opportunities in Mexico. Oro Silver's
strategy is to advance properties towards silver production through
strategic business arrangements and development plans focusing on
advanced-stage projects with known silver resources that exhibit
potential for expansion. The El Compas mine continues to be the
cornerstone for Oro Silver's growth strategy in the Zacatecas silver
district.

ON BEHALF OF THE BOARD OF DIRECTORS,

Darren Bahrey, President & CEO

Some statements in this release may contain forward-looking information.
These statements include, but are not limited to, statements with respect
to future exploration, resource estimation, development and production
activities and future expenditures. These statements address future
events and conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the
statements. Such factors include, among others, the time and success of
future exploration, development and production activities and the timing
and amount of expenditures.

Neither the TSX Venture Exchange nor its
Regulation Services Provider accepts responsibility for the adequacy or
accuracy of this release.

Contacts:
Oro Silver Resources Ltd.
Ariel Cobangbang
Investor Relations
604 646-1585
604 642-2411 (FAX)
www.orosilver.com

Copyright 2009, Market Wire, All rights reserved.

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