Prospero Silver Corp. (TSX VENTURE:PSL) (“Prospero”) is pleased to announce that it has closed its previously announced non-brokered private placement of 9.25 million units (the “Units”) at a price of $0.20 per Unit, for gross proceeds of $1,850,000 (the “Offering”). Each Unit consisted 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 3 years, subject to an acceleration provision under which, if at any time after January 15, 2017, its common shares close at a price at or above $0.60 per share for more than 20 consecutive trading days, 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.