September 03, 2008

Oro Silver Acquires 174 Square Kilometres of Property Covering the Eastern Extensions of the Vetagrande and Panuco Trend in the Zacatecas District, Zacatecas, Mexico

Oro Silver Resources Ltd. (“Oro Silver”) (TSX-V: OSR) has executed a formal purchase option agreement for the 98 square kilometre Cabrestante property in eastern Zacatecas, Mexico, from a private Mexican consortium. Oro Silver also acquired, by staking, the mining rights for San Ignacio, located east of Cabrestante covering another 76 square kilometre area. Together, the two properties form the core of Oro Silver’s new Tacoaleche Project. These properties cover a low topographic relief range, approximately 10 kilometres east and on trend of the epithermal Zacatecas vein deposits. Epithermal veins in the Zacatecas district are chiefly northwest trending, similar to veins observed on the Tacoaleche property. The property covers the possible eastern extensions of the Panuco/Muleros and Vetagrande vein systems, two sub-parallel systems north of the Mala Noche trend which host Capstone Mining Corp’s Cozamin deposit. Results from preliminary reconnaissance exploration completed to date suggest excellent potential for an extension of the Vetagrande and Panuco vein systems onto the Tacoaleche properties. A minimum of 5 sub-parallel veins with continuity greater than 4 kilometres have been identified on surface. Vein samples collected by Oro Silver graded up to 68.0 g/t silver, 0.4 g/t gold, and 0.5 % lead.

Under the terms of the Cabrestante agreement, Oro Silver paid US$40,000 on signing of the formal agreement with additional optional annual payments over a 4-year period totaling US$0.96 million, in order to get a 100% interest in the property. In addition, Oro Silver will spend US$1 million in work over the 4-year period. At completion of the agreement, the owner of the Cabrestante concession will receive a 1.5% NSR, which is capped at and can be purchased at any time for US$1 million.

“Oro Silver intends to complete a systematic surface exploration program at Tacoaleche, including mapping, geochemical surveys, and drilling. The acquisition of the Tacoaleche property represents an important step in Oro Silver’s growth strategy in the Zacatecas district by identifying early-stage exploration opportunities that have excellent potential to host a new discovery”, stated Herve Thiboutot, Chief Executive Officer and Vice-President of Oro Silver. Oro Silver’s generative and exploration programs are supervised by Mr. Herve Thiboutot, P. Eng., Chief Executive Officer and Vice-President Exploration. Mr. Thiboutot is a qualified person as defined by National Instrument 43-101. Mr. Thiboutot has reviewed the content of this press release.

Quality control

Oro Silver maintains a strict quality control program. All samples were submitted directly to Inspectorate de Mexico, S.A de C.V., for preparation in Mexico, and analysis in Reno, Nevada. Analysis was conducted on 1 assay-ton samples, with standards and blanks inserted every 30 samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 3 g/t gold. Analysis of silver was by atomic absorption, with a gravimetric finish on samples exceeding 200 g/t silver. Triple acid digestion was used on all samples. Samples exceeding 10,000 part per million for copper, lead, or zinc were re-analyzed by gravimetric method.

About Oro Silver

Oro Silver is a silver exploration company pursuing early and advanced stage silver-based opportunities primarily in the western hemisphere. The company is focused on (i) developing resources and optimizing milling 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 an aggressive acquisition and development plan focused on advanced-stage projects with known silver resources that exhibit potential for expansion.

ON BEHALF OF THE BOARD OF DIRECTORS,
Herve Thiboutot
Chief Executive Officer
Suite 1400-625 Howe Street, Vancouver BC V6C 2T6
Telephone: 604 646-1588 Facsimile: 604 642-2411
www.orosilver.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, resource estimation, development and production activities 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 and the timing and amount of expenditures.