Netco to Update Technical Report to Include Bonanza Grade Drill Intercepts on Toruel Property, Announces New Board Advisors

NETCO SILVER INC. (TSX VENTURE:NEI) ("Netco" or the "Company") today provides an
update on the status of its review of historical information pertaining to the
Toruel Property. The Toruel Property covers approximately 5,736 hectares and is
located about 25 kilometers southeast of the village of Los Menucos in the Rio
Negro Province of Argentina. The Company was recently granted an option to
acquire up to a 75% interest in the Toruel Property from Marifil Mines Ltd. (TSX
VENTURE:MFM) ("Marifil"). 


In connection with the acquisition of this option, the Company has been
conducting an ongoing review of information collected by Marifil with respect to
the Toruel Property. Such material has included a press release of Marifil dated
December 15, 2005, available on SEDAR at www.sedar.com, as well as the certified
assay results from Phase 2 of the drill program Marifil undertook on the Toruel
Property in 2005. These results include intercepts of significantly higher grade
for Drill Hole 32 than previously reported in the Company's existing technical
report on the Toruel Property dated June 15, 2011, as follows:




----------------------------------------------------------------------------
Drill Hole    From (m)    To (m)   Interval (m)   Silver (g/t)    Copper (%)
----------------------------------------------------------------------------
DH 32            34.5      41.2           6.70           1998          5.34 
----------------------------------------------------------------------------
Including        35.8      37.6           2.40           4283         10.38 
----------------------------------------------------------------------------



Andrew Gourlay, President, had the following comments, "Netco is encouraged by
these recent findings, which further our belief that the Toruel Property
potentially contains significant silver. They will assist us in targeting drill
locations for our future drilling programs."


Although the information in Marifil's press release was not included in Netco's
existing National Instrument 43-101 ("NI 43-101") technical report on the Toruel
Property, the author of Netco's technical report had examined the core from
several well-mineralized drill-holes in late 2009 at the Marifil core storage
facility in Los Menucos. The author picked several well-mineralized drill holes
at random to confirm the existence of the mineralization that was reported. He
advised Netco that the mineralization observed in drill core stored at Los
Menucos was consistent with that reported in Marifil project reports. No core
was quartered for verification analysis because no core saw or splitter was
available at that time. Based upon the site visit, verification sampling
results, Marifil assay certificate examination, and examination of drill core,
the author was satisfied that the mineralization reported by Marifil geologists
is credible. Netco is updating its existing technical report to reflect these
findings. The updated technical report is expected to be SEDAR filed in the
coming weeks.


The Company also announces that it has issued an additional 250,000 common
shares to Marifil as required under the terms of the option agreement with
Marifil with respect to the Property. The shares are subject to a four month
hold period under applicable securities laws.


The Company's disclosure of a technical or scientific nature contained in this
press release has been reviewed and approved by James F. Ebisch, R.P.G., who is
a qualified person as defined in NI 43-101. Mr. Ebisch is the author of Netco's
existing technical report on the Toruel Property, available on SEDAR at
www.sedar.com, entitled "Toruel Property, Rio Negro Province - Argentina", dated
effective June 15, 2011.


APPOINTMENT OF ADVISORY BOARD MEMBERS

The Company is also pleased to announce that Dr. Hugo Bastias and Carlos Saravia
Frias have been appointed to serve on the advisory board of the Company,
effective immediately.


Dr. Bastias has a Ph.D. in Geological Sciences, and has more than 30 years of
mining industry experience, including senior management roles as the Exploration
Manager for Argentina Gold Corporation and Business Manager of Mt. Isa Mines
Ltd. in Argentina and South America. Sr. Bastias's extensive experience will be
instrumental in facilitating the growth of Netco's operations in South America.


Sr. Saravia Frias is a partner in the Buenos Aires law firm of Saravia Frias |
Mazzinghi Abogados. Sr. Saravia Frias brings extensive experience as counsel
focused on mineral exploration law and policy in South America, and has
previously held positions with the World Bank. He served as National
Undersecretary of Energy and Mining for Argentina in 2001 and 2002. Sr. Saravia
Frias's guidance is invaluable to Netco as we expand our South American
operations.


ISSUANCE OF OPTIONS

The Company also wishes to announce that 1,125,000 stock options have been
granted to Directors and Advisors/Consultants at an exercise price of $0.15 per
share for a period of 5 years.


On behalf of the Board of Directors of NETCO SILVER INC.

Colin Bowkett, Director

Disclaimer for Forward-Looking Information 

Certain statements in this release are forward-looking statements.
Forward-looking statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans, expectations or intentions
regarding the future, and include discussion of potential silver that may be
found on the Property, that recent findings may assist the Company with
determining future drilling targets and regarding the Company's intended timing
of filing of its updated technical report for the Property. Such statements are
subject to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the statements. No
assurance can be given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the Company will
obtain from them. These forward-looking statements reflect management's current
views and are based on certain expectations, estimates and assumptions which may
prove to be incorrect. A number of risks and uncertainties could cause the
Company's actual results to differ materially from those expressed or implied by
the forward-looking statements, including: (1) any factors that unexpectedly
delay finalization of the updated technical report; (2) the risk that the
Property may contain less silver than anticipated based on recent findings; (3)
that the Property may have no mineral reserves or mineral resources; and (4)
other factors beyond the Company's control. These forward-looking statements are
made as of the date of this news release and the Company assumes no obligation
to update these forward-looking statements, or to update the reasons why actual
results differed from those projected in the forward looking statements, except
in accordance with applicable securities laws. Additional information about the
Company and these and other assumptions, risks and uncertainties is available in
the Company's public filings with Canadian securities regulators, available on
SEDAR at www.sedar.com.