VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 8, 2016) – Prospero Silver Corp. (TSX VENTURE:PSL) (“Prospero“) is pleased to announce that it will undertake a non-brokered private placement of up to 8.25 million units (the “Units“) at a price of $0.20 per Unit, for gross proceeds of up to $1,650,000 (the “Offering“). Each Unit will consist of one common share (a “Share“) and one non-transferable common share purchase warrant (a “Warrant“). Each Warrant will entitle the holder thereof to purchase one additional Share at an exercise price of $0.30 per Share for a term of 3 years, subject to an acceleration provision under which, if at any time from four months and one day after the closing of the Offering, the volume weighted average trading price of Prospero’s common shares on the TSX Venture Exchange over a period of 20 consecutive trading days exceeds $0.60, Prospero may, within five days of such event, provide notice (the “Notice“) to the holders of the Warrants that the Warrants will expire on the date which is 30 calendar days after the date of the Notice. A finder’s fee or commission may be paid on part of the Offering.