Argentum Awards Drilling Contract on its Coyote Project in Jalisco, Mexico

Argentum Silver Corp. ("Argentum" or the "Company") announces that it has
contracted Major Drilling de Mexico, S.A. de C.V. to carry out the first phase
of drilling on the Company's 1053 hectare Coyote Project, located in the state
of Jalisco, Mexico. Argentum expects the drilling program to begin mid January
of 2012 and consist of a minimum of 2000 meters. This initial phase of drilling
will target four of the six currently defined vein systems on the Coyote
project. Exploration of the Coyote property has shown numerous systems that
combine for a strike-length of more than five kilometers. Initial drill targets
range from 80 meters to a maximum depth of 130 meters.


Argentum holds the option to expand the drilling program up to 3000 meters. "We
are excited to announce this first phase of drilling, our recent sampling
program showed encouraging results and we are confident in moving this project
forward," stated Warren McIntyre, President of Argentum. 


To view the map associated with this release, please visit the following link:
http://www.argentumsilvercorp.com/i/pdf/CoyoteDrillMap.pdf.


Annual General Meeting 

The Company concluded its Annual General Meeting on December 1, 2011, and the
board of directors is pleased to announce the re-appointment of the following
officers: 


Warren McIntyre - President and Chief Executive Officer 

Simon Anderson - Chief Financial Officer 

Jeff Sheremeta - Corporate Secretary and Vice-President 

The Company also announces the re-appointment of James Hutton (Chair), Lawrence
Cyna and Geoff Balderson as its audit committee.


About Argentum Silver 

Argentum holds the right to acquire a 100% interest in the Lachiguiri,
Silacayoapan and Nino Perdido properties, all located in Oaxaca, Mexico, under
an option agreement with Arco Resources Corp. Argentum also has an option to
earn a 100% interest from Soltoro Ltd. in the Victoria and Coyote silver-gold
projects located in Jalisco, Mexico. For further information, please go to
www.argentumsilvercorp.com. 


On behalf of the Board of Directors of Argentum Silver Corp.: 

Warren McIntyre, President and Chief Executive Officer

Argentum Silver Corp.

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. Argentum relies upon litigation protection for forward-looking
statements.