Prospero Reports Fiscal 2013 Results and Announces Annual General Meeting and Adoption of Advance Notice Policy

Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") reports
that it has filed its financial results for the year ended December 31, 2012.


The financial statements have been filed on SEDAR and are available on the
Company's website at www.prosperosilver.com.


The Company is also pleased to announce that the Company will hold its Annual
General Meeting (the "Meeting") of shareholders on June 25, 2013 at 10:00 a.m.
Pacific Standard Time at the offices of Bull Housser & Tupper, LLP, 3000 - 1055
West Georgia Street, Vancouver, British Columbia. All shareholders of record as
of May 16, 2013 are entitled to vote at the Meeting in person or by proxy.


The Company further announces the approval by its board of directors of an
advance notice policy (the "Policy") on April 10th, 2013. The purpose of the
Policy is to provide shareholders, directors and management of the Company with
a clear framework for nominating directors.


Among other things, the Policy includes a provision that requires advance notice
to be given to the Company in circumstances where nominations of persons for
election to the Board are made by shareholders of the Company other than
pursuant to: (i) a requisition of a meeting made pursuant to the provisions of
the British Columbia Business Corporations Act (the "Act"); or (ii) a
shareholder proposal made pursuant to the provisions of the Act. The Policy
fixes a deadline by which director nominations must be submitted to the Company
prior to any annual or special meeting of shareholders and sets forth the
information that must be included in the notice to the Company in order for a
nominee to be eligible for election.


In the case of an annual meeting, notice to the Company must be given no fewer
than 30 nor more than 65 days prior to the date of the meeting; provided that if
the meeting is to be held on a date that is fewer than 50 days after the date on
which the first public announcement of the date of the meeting was made, notice
may be given no later than the close of business on the 10th day following such
public announcement.


In the case of a special general meeting that is not also an annual meeting,
notice to the Company must be made no later than the close of business on the
15th day following the day on which the first public announcement of the date of
the special meeting was made.


The Policy is effective as of the date it was approved. In order for the Policy
to remain in effect following conclusion of the Meeting, it must be ratified by
an ordinary resolution of the shareholders at the Meeting. Pursuant to the
Policy, the deadline for notice of director nominations for the Meeting is May
24, 2013.


The full text of the Policy is available via SEDAR at www.SEDAR.com. Further
details regarding the Meeting are contained in a Management Information Circular
that will be mailed to shareholders of the Company and will be filed on SEDAR.


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 MineraFumarola, 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.


Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the
meaning of Canadian securities legislation, relating to the closing of a
non-brokered Private Placement. Although the Company believes that such
statements are reasonable, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are statements that are not
historical facts; they are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "aims", "potential", "goal", "objective", "prospective", and similar
expressions, or that events or conditions "will", "would", "may", "can", "could"
or "should" occur, or are those statements, which, by their nature, refer to
future events. 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 reports, publicly available
through the Canadian Securities Administrators' System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com, including the risk factors
discussed in Prospero's November 27, 2009 prospectus. 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. 


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


Prospero Silver Corp.
Kirk Gamley
Contact Financial
[phone]
www.prosperosilver.com