Richmond, B.C. – Prospero Silver Corp. (TSXV: PSL) (the “Company”) is pleased to announce that shareholders of the Company approved all resolutions brought before them at the Company’s Annual General Meeting (the “AGM”) held in Richmond, British Columbia on June 27, 2012.

Election of Directors

The following board members stood for election and were duly re-elected: Tawn Albinson, William Murray, Murray Oliver, John Watson and Grant Bosworth.

Other AGM Results

Dale Matheson Carr-Hilton Labonte LLP was re-appointed as auditors of the Company for the ensuing year.

Also, the continuance of the Company’s Stock Option Plan (the “Plan”) was approved with the number of stock options eligible to be granted under the Plan being 10% of the issued and outstanding common shares of the Company, from time to time, less the number of issued and outstanding stock options.

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.

For further information please contact:

William Murray
Chairman
Tel: (604) 248–0797

or

Peter Murray
Contact Financial
604-689-7422


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.