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April 16, 2009
TSX Venture Exchange Tier 1
Trading Symbol: OK
Orko Silver Provides Clarification of Joint Venture
Agreement
VANCOUVER, British Columbia - Orko
Silver Corp. ("Orko") (TSX.V - OK)
wishes to clarify the confusion surrounding the terms of the Joint Venture
agreement announced in a joint press release with Pan American Silver Corp.
dated April 14, 2009.
Pan American Silver Corp. and Orko Silver Corp. have
reached an agreement for the joint development of Orko Silver's La Preciosa
silver project.
Under the terms of the Joint Venture agreement:
Pan American Silver will contribute 100% of the
necessary funds to develop La Preciosa to production to acquire 55% interest
in the project. Orko Silver retains a 45% interest carried to
production.
In addition, Pan American Silver is undertaking a
private placement of 4,000,000 common shares of Orko at a purchase price
of CDN $1.25 per share, with certain anti-dilution and pre-emptive rights to
participate in future financings of Orko.
About Orko Silver
Orko Silver Corp. is developing one of the world�s largest primary silver
deposits, La Preciosa, located near the city of Durango, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary
Cope
President
For further information, contact Orko Silver Corp. at (604) 684-4691 or
Via our
website at www.orkosilver.com
The TSX Venture Exchange has not reviewed and does
not accept responsibility for this News Release. This News Release may
contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. Orko relies upon litigation protection
for forward-looking statements.
*Cautionary Note to U.S. Investors � The United
States Securities and Exchange Commission permits U.S. Mining companies, in
their filings with the SEC, to disclose only those mineral deposits that a
company can economically and legally extract or produce. We use certain
terms in this press release, such as �measured�, �indicated�, and �inferred�
resources, which the SEC guidelines strictly prohibit U.S. registered
companies from including in their filings with the SEC. U.S. Investors
are urged to consider closely the disclosure in our Form 20-F, File No.
000-51923, which may be secured from us, or from the SEC�s
website at http://www.sec.gov/edgar.shtml
.
The TSX Venture Exchange has not reviewed and does
not accept responsibility for this News Release. This News Release may
contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. Orko relies upon litigation protection
for forward-looking statements.
*Cautionary Note to U.S. Investors � The United
States Securities and Exchange Commission permits U.S. Mining companies, in
their filings with the SEC, to disclose only those mineral deposits that a
company can economically and legally extract or produce. We use certain
terms in this press release, such as �measured�, �indicated�, and �inferred�
resources, which the SEC guidelines strictly prohibit U.S. registered
companies from including in their filings with the SEC. U.S. Investors
are urged to consider closely the disclosure in our Form 20-F, File No.
000-51923, which may be secured from us, or from the SEC�s
website at http://www.sec.gov/edgar.shtml
.
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