Prospero Announces Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSMEMINATION IN THE UNITED
STATES.


Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased
to announce that it intends to complete a non-brokered private placement of up
to 5,000,000 Shares at a price of $0.05 per Share, for an aggregate gross
proceeds of up to CDN $250,000. 


No finder's fees will be paid on any, all or part of the placement. 

All securities issued under the Private Placement will be subject to a
four-month hold period and will not be tradable until four months and one day
after closing of the private placement.


The net proceeds from this private placement will be used for the overhead
support required for acquiring new joint ventures, ongoing exploration and
sampling at the Pachuca S-E Project as well as for general working capital
purposes.


This proposed financing is subject to the approval of the TSX Venture Exchange.

About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in
Mexico and who work for its wholly owned subsidiary Minera Fumarola, SA de CV
(Fumarola). Prospero's objective is to quickly evaluate the properties currently
optioned for their suitability to provide size potential and/or amenability for
strategic joint ventures.


Cautionary Statement:

This news release contains forward-looking statements within the meaning of the
Canadian provincial securities laws that are not historical facts.
Forward-looking statements involve risks, uncertainties and other factors that
could cause actual results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking statements,
including statements regarding future exploration plans. Factors that could
cause actual results to differ materially from these forward-looking statements
include, but are not limited to, variations in the nature, quality and quantity
of any mineral deposits that may be located, the Company's inability to obtain
any necessary permits, consents or authorizations required for its planned
activities, and the Company's inability to raise the necessary capital or to be
fully able to implement its business strategies. The reader is referred to the
Company's public disclosure record, which is available on SEDAR (www.sedar.com),
including the risk factors discussed in Prospero's November 27, 2009 prospectus.
Although Prospero believes that the assumptions and factors used in preparing
the forward-looking statements are reasonable, undue reliance should not be
placed on these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur in the
disclosed time frames or at all. Except as required by securities laws and the
policies of the TSX Venture Exchange, Prospero disclaims any intention or
obligation to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


THE SHARES BEING OFFERED FOR SALE MAY ONLY BE PURCHASED BY CANADIAN RESIDENTS,
OFF-SHORE RESIDENTS AND RESIDENTS OF THE UNITED STATES OF AMERICA, IN EACH CASE
PURSUANT TO AVAILABLE EXEMPTIONS UNDER APPLICABLE SECURITIES LEGISLATION.


NONE OF THE SHARES OFFERED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE.


THESE SECURITIES HAVE NOT BEEN APPROVED NOR DISAPPROVED BY THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS
THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES
COMMISSION PASSED UPON THE ACCURACY AND ADEQUACY OF THE INFORMATION CONTAINED
HEREIN. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prospero Silver Corp.
William Murray
Chairman
[phone]


Contact Financial
Kirk Gamley
[phone]