Orko Announces Filing of NI 43-101 Technical Report for its La Preciosa Silver Project

Orko Silver Corp. (TSX VENTURE:OK): Orko Silver Corp. ("Orko) is pleased to
announce that it has filed a technical report prepared in accordance with
National Instrument 43-101 ("NI 43-101") in support of the Company's September
20, 2012, news release, which included an updated mineral resource estimate for
its La Preciosa Silver Project in Durango, Mexico.


The independent technical report, entitled "La Preciosa Silver Deposit, Updated
Mineral Resource Estimate Statement, Durango, Mexico" (the "Technical Report"),
dated November 5, 2012, was prepared by MiningPlus Canada Inc. Vancouver BC,
("MiningPlus") and authored by Darren Head and Michael Collins, Qualified
Persons as defined by the requirements of NI 43-101. The Technical Report is
available on SEDAR at www.sedar.com and on the Company's website at
www.orkosilver.com.


Resource Statement

The portion of the mineral resources amenable to open pit mining for the La
Preciosa Project are 29,600,000 tonnes grading an average of 104 g/t
silver-equivalent classified as Indicated Mineral Resources, with an additional
47,700,000 tonnes grading an average of 87 g/t silver-equivalent classified as
Inferred Mineral Resources. This resource is based upon a 25 g/t silver cut-off
grade and contained within two potentially economically mineable pit shells. 


The portion of mineral resources amenable to underground mining are 54,000
tonnes grading an average of 99 g/t silver-equivalent classified as Indicated
Mineral Resources, with an additional 1,900,000 tonnes grading an average of 124
g/t silver-equivalent classified as Inferred Mineral Resources. The resource is
based upon a 60 g/t silver cut-off grade to reflect the higher mining costs
associated with underground mining methods. 


The mineral resources are summarized in Table 1. The updated Indicated Mineral
Resource contains an estimated 110,000,000 oz AgEq with another 154,000,000 oz
AgEq categorized as Inferred.




Table-1- October 25, 2012 Resource Estimate                                
                                                                           
---------------------------------------------------------------------------
   La Preciosa Mineral Resource Estimate - effective October 25, 2012 (i)  
---------------------------------------------------------------------------
                   Cut-off               Silver                        AgEq
                     Grade Tonnes  Sil-  (mill-          Gold        (mill-
Mining    Classifica- (g/t (mill-   ver     ion  Gold  (000's  AgEq     ion
Method    tion         Ag)  ions) (g/t) ounces) (g/t) ounces) (g/t) ounces)
---------------------------------------------------------------------------
Open Pit  Indicated     25   29.6   104      99  0.20     190   115     110
---------------------------------------------------------------------------
Open Pit  Inferred      25   47.7    86     132  0.16     245    95     146
---------------------------------------------------------------------------
Under-    Indicated     60    0.1    99       0  0.16       0   108     0.2
 ground 
---------------------------------------------------------------------------
Under-    Inferred      60    1.9   124       8  0.21      13   136       8
 ground 
---------------------------------------------------------------------------
Total     Indicated          29.7   104      99  0.20     191   115     110
          -----------------------------------------------------------------
          Inferred           49.6    87     140  0.16     259    97     154
---------------------------------------------------------------------------
Notes:                                                                      
 (i) Mineral Resources are not Mineral Reserves and do not have demonstrated
economic viability.                                                         
 1. Open pit resources stated are contained within a potentially            
    economically mineable pit shell.                                        
 2. Pit optimization is based on assumed silver and gold prices of          
    US$25.90/oz and US$1,465/oz respectively and mill recoveries of 88% and 
    78% respectively, mining costs of US$1.45/t, processing costs of        
    US$17.25/t and G&A costs of US$4.35/t.                                  
 3. Break-even cut-off grades used were 25 g/t Ag for open pit mill material
    and 60 g/t Ag for underground material.                                 
 4. Silver equivalency is based on unit values calculated from the above    
    metal prices, and assumes 100% recovery of all metals.                  
 5. Mineral resource tonnage and contained metal have been rounded to       
    reflect the accuracy of the estimate, and sums may not total due to     
    rounding.                                                               



Further optimization work on the resource calculation since the published
resource estimate on September 20 has resulted in minor changes to the resource,
with changes in the overall inferred resource, and slight changes in the
indicated resource ("MiningPlus") on the La Preciosa Silver Project. This has
resulted in an increase of 12% of the Total Inferred AgEq, a reduction of
Underground Indicated and Inferred resources, a reduction of Open Pit grades and
an increase of Underground grades. (Table 2).




Table 2 Variance Of Resource Estimate from Sept 20, 2012 Resource Estimate  
                                                                            
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                 La Preciosa - Variance of Resource Estimate                
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                                                                  Silver    
                                      Silver         Gold       Equivalent  
                                  ------------------------------------------
Change from Sept 20, 2012  Tonnes  Grade Ounces  Grade Ounces  Grade Ounces
----------------------------------------------------------------------------
Open Pit    Indicated           1%    -1%     0%    -5%    -4%    -1%     0%
----------------------------------------------------------------------------
            Inferred           19%    -2%    17%   -11%     6%    -3%    15%
----------------------------------------------------------------------------
Underground Indicated         -33%    39%    -6%     7%   -28%    36%    -8%
----------------------------------------------------------------------------
            Inferred          -34%    19%   -22%    -2%   -36%    17%   -23%
----------------------------------------------------------------------------
Total       Indicated           1%    -1%     0%    -5%    -4%    -1%     0%
----------------------------------------------------------------------------
            Inferred           16%    -2%    14%   -11%     3%    -3%    12%
----------------------------------------------------------------------------



The change in the updated mineral resource has been affected by;



--  reclassification of a portion of the Inferred Resources to Indicated
    Resources, 
--  Capping of the gold grades, 
--  Re-evaluation of the recovery factors utilized in the Whittle Pit
    analysis and the related modified Whittle Pit definition. 



The mineral resources are reported in accordance with NI 43-101 and have been
classified in accordance with standards as defined by the Canadian Institute of
Mining, Metallurgy and Petroleum ("CIM") "CIM Definition Standards - For Mineral
Resources and Mineral Reserves".


This mineral resource estimate has been completed by Bruce Godsmark B.Sc.
(MAusIMM) under the direction of Christopher Gee Ph.D., (MAusIMM), Principal
Resource Geologist with MiningPlus and Darren Head B.Sc. (MAIG), Manager of
Geoscience and Risk with MiningPlus, who have reviewed pertinent geological
information in sufficient detail to support the data incorporated in the mineral
resource estimate. Mr. Head is an Independent Qualified Person as defined under
NI 43-101 and is responsible for the mineral resource estimate presented in this
release.


Drilling data includes a total of 719 drill holes with 45,118 samples from
237,545 m of drilling. Thirty two drill holes totalling 5,706 m were drilled
since the 2011 resource cut-off date of October 2010 and are now included in
this resource estimate. No new infill drilling has been completed on the
property since January 2011. Wireframes are three-dimensional closed solids
constructed in Vulcan(TM) and are based on a combination of logged geology and
assay information. These wireframes define the veins and limit the estimation.
MiningPlus modeled 68 discrete veins independently to define the current deposit
block model, as compared to 18 veins modeled in the mineral resource estimate
used in the 2011 PEA. 


The average drill sample length for all samples is 0.75 m. Samples were
composited to 1.5 m lengths. The estimation was undertaken using ordinary
kriging. MiningPlus applied appropriate block model validation techniques for a
resource estimation at this stage of project development.


Pit optimization was conducted using Whittle(TM) software to evaluate the block
model which was constructed in Vulcan(TM). Underground optimization was
conducted using MSO software in a Datamine Studio3 block model derived from the
Vulcan(TM) block model. A cut-off grade for the pit and stope optimization of 25
g/t and 60 g/t silver for open pit and underground was used respectively.


Resources are classified as Indicated where the average distance to the closest
two drill holes is 38 metres and the distance to the closest sample is less than
38 metres. The Inferred Resources category is defined as areas estimated using
at least two composite samples and being within 150 metres of the closest
sample. 


QA/QC

The majority of holes were drilled with HQ size diamond drill core, reducing to
NQ with increasing depth depending on ground conditions. Core samples were cut
using a core saw with varied sample lengths not exceeding 1.5 metres in
mineralized material. Further Quality Assurance and Control procedures and
details on assays are disclosed on the Orko Silver Corp. website and in the
report titled "Pan American Silver Corp. and Orko Silver Corp.: La Preciosa
Silver Property, Durango, Mexico, Preliminary Economic Assessment - Technical
Report" dated 30 June 2011. 


AMEC is working on the Preliminary Economic Assessment using the new resource
estimate. As part of that work AMEC is currently performing a mill sizing study
and reviewing mining options.


George Cavey, P.Geo., is the Qualified Person for Orko Silver Corp. and has
approved the technical disclosure in this news release.


About Orko Silver Corp.

Orko Silver Corp. is developing one of the world's largest undeveloped primary
silver deposits, La Preciosa, located near the city of Durango, in the State of
Durango, Mexico.


ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope, President

This News Release may contain forward-looking statements including but not
limited to comments regarding the reasonable prospects of economic extraction of
a mineral resource, 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 and Orko
undertakes no obligation to update such statements, except as required by law. 


The resource estimate is based on a geological model based on interpretations of
multiple veins in wide spaced drill holes. There is risk that the interpreted
continuity and orientation of the veins could change with additional drilling.
The sample values in the drill core may not be representative of those portions
of the deposit as precious metal deposits are subject to nugget effect and rapid
changes to grade over relatively short distances. Sampling gaps in the modelled
veins may allow higher grade samples to be projected into unsampled lower grade
areas of the model. This could cause overestimation of tonnes and grade. The
converse is also true. Density values of the blocks are based on a model that
may not be accurate and may cause local biases in tonnage estimates.




FOR FURTHER INFORMATION PLEASE CONTACT: 
Orko Silver Corp.
[phone]
[phone] (FAX)
[e-mail]
www.orkosilver.com