Oro Silver Resources Ltd. TSX VENTURE: OSR

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 4, 2008) - Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE:OSR) announces that it intends to complete a non-brokered private placement of up to 1,000,000 units at a price of $0.40 per share for proceeds of up to $400,000. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of $0.66 per share for one year from the date of closing. The units issued will be subject to a four-month hold period from the closing date.

The net proceeds of the private placement will be used to define silver resources and consolidate land positions at Oro Silver's Vetagrande and El Compas projects in Zacatecas, Mexico, and for working capital and general corporate purposes. Finder's fees may be payable in connection with the private placement in accordance with TSX Venture Exchange policy. The above transaction will be subject to regulatory approval.

Oro Silver is also pleased to announce the appointment of Mimy Fernandez-Maldonado as the company's Corporate Secretary. Ms. Fernandez-Maldonado has over 10 years corporate and management experience in public companies and has most recently worked in the mining industry. Prior to joining Oro Silver, she was the Corporate Secretary of seven publicly traded mining and oil & gas companies. She is a member of the Canadian Society of Corporate Secretaries and is fluent in Spanish.

Oro Silver is a silver exploration company pursuing early and advanced stage silver-based opportunities primarily in the western hemisphere. Oro Silver is focused on (i) developing resources and optimizing mining processes at its Vetagrande and El Compas Mine projects in Zacatecas, Mexico, and (ii) completing additional strategic acquisitions. Oro Silver's strategy is to become a mid-tier silver producer through a rapid acquisition and development plan focused on world-class silver districts that are under-explored and exhibit potential for expansion.

On behalf of the Board of Directors,

Herve Thiboutot, CEO

Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities, future acquisitions and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities, the timing of future acquisitions and the timing and amount of expenditures.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.