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Re:   News Release - Monday, March 08, 2010
      Genco's Third Tranche Of $4.5 Million Placement Oversubscribed
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March 8, 2010 -- Vancouver, BC -- Genco Resources Ltd. (TSX: GGC) has
completed the third tranche of its Private Placement of up to
12,500,000 units by issuing the balance of 4,571,710 units at a price
of CAD $0.36 per unit for proceeds of CAD $1,645,816. Each unit
consisted of one common share and  one-half of a transferable warrant
to purchase a further common share for CAD $0.45 for a period of two
years from each closing date. Genco has now received the full gross
proceeds of CAD $4,500,000.

The Private Placement was oversubscribed and Genco plans to issue a
further 761,000 units for gross proceeds of CAD $273,960 in a fourth
and final tranche.

Casimir Capital L.P. of New York, NY acted as Agent in each tranche of
the Private Placement. Casimir was paid a fee of 8% of the proceeds,
and issued 400,000 warrants exercisable on the same terms as the
warrants contained in the units.

About Genco Resources Ltd.

Genco Resources Ltd. is a publicly traded mining company focused on
developing its core asset, the producing La Guitarra silver-gold
property located in the Temascaltepec Mining District of Mexico.      
  La Guitarra Mine presently consists of two underground operation
centres and a flotation mill with a proven capacity of 320 tonnes per
day. Genco recently completed a Feasibility Study, which evaluated a
ten-fold expansion of existing mining operations at La Guitarra Mine to
3,000 tonnes per day.

For further information, please contact:

Ms. Jada Soomer
Manager, Corporate Communications
Telephone: (604) 682-2205 ext. 227
jsoomer@gencoresources.com


This news release may contain certain forward-looking statements that
involve risks and uncertainties such as statements of the Company's
plans, objectives, strategies, expectations, and intentions. The words
"may", "would", "could", "will", "intend",  "plan", "believe",
"estimate", "expect" and similar expressions, as they relate to the
Company, or its management, are intended to identify such
forward-looking statements. Many factors could cause the Company's
actual results, performance or achievements to be materially different
from any future results, performance or achievements that may be
expressed or implied by such forward-looking statements, including
those factors discussed below and in filings made with the Canadian
securities regulatory authorities. Should one or more of these risk
factors or uncertainties materialize, or should assumptions underlying
the forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. The Company does not
intend, and does not assume any obligation to update these
forward-looking statements.

The Toronto Stock Exchange has not reviewed the contents of this
release and does not accept responsibility for the accuracy of the
contents of this release.

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Copyright (c) 2010 GENCO RESOURCES LTD. (GGC)  All rights reserved.
For more information visit our website at
http://www.gencoresources.com/ or send mailto:info@gencoresources.com
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