=======================================================================
Re:   News Release - Monday, November 24, 2008
      Impact Silver Announces Record Quarterly Silver Production
=======================================================================

IMPACT Silver Corp. ("the Company" or "IMPACT") is pleased to announce
record quarterly silver production of 169,273 ounces, up 98% from
85,610 ounces in 2007.  Gross revenues for the third quarter were
$2,244,000, up 40% from $1,604,000 in the third quarter of 2007.
Higher revenues due to increased silver, lead and zinc production
helped offset lower realized silver, lead and zinc prices resulting in
a small net loss of $233,000 for the quarter. 

During the quarter, a dramatic change in commodity prices affected the
industry.  Due to the Company's work over the last two years, the Royal
Mines of Zacualpan has the flexibility to address lower prices by
shifting production to higher grade areas.  While the third quarter
results reflect the declining price of metals, the rescheduling of
production did not occur until the fourth quarter.  In order to
maintain profitability, some of the scheduled increase in throughput
has been delayed to avoid processing non-economic material at this
time.  Fred Davidson, President and Chief Executive Officer of IMPACT,
stated, "We are uniquely positioned with cash reserves and positive
cash flow from operations even at these lower metal prices to continue
the exploration and development of the Company's numerous projects over
the next year."

Cash flows from operations for the quarter increased to $332,000, up
from $324,000 in 2007.  Cash flows from operations for the nine-month
period increased to $2,403,000, up from $377,000 from in 2007.  Average
mill throughput during the quarter was 302 tpd, up 2% from 296 tpd
during the same quarter in 2007.

-----------------------------------------------------------------------
Nine Months Ended September 30         2008         2007       % Change
-----------------------------------------------------------------------
Revenue                          $6,687,000     $5,140,000          30%
-----------------------------------------------------------------------
Net Income                         $918,000      ($68,000)        1450%
-----------------------------------------------------------------------
Earnings Per Share                    $0.02        ($0.00)
-----------------------------------------------------------------------
Cash and Cash Equivalents        $7,091,000     $4,847,000        46.3%


After investing $1.4 million in plant and equipment, as well as $4.1
million on resource properties and exploration at the end of the nine
months, the Company had cash and cash equivalents of $7.1 million and
net working capital of $8.4 million.  The Company's working capital
position is expected to remain strong through the 2008 year as cash
flow from mining operations should be sufficient to fund the majority
of the Company's 2008 resource property cost exploration expenditures.

Mine operating cost per tonne for the quarter was $59.27, up from
$38.34 in the third quarter of 2007.  Mine operating earnings for the
quarter were $201,000, down 44% from $358,000 in the third quarter of
2007.  Mine operating costs were significantly higher as lower cost
bulk mining was used in 2007 to recover higher grade zinc and lead ore
from the Guadalupe mine to take advantage of higher prices prevailing
for these metals in 2007.   In 2008, production shifted to the recovery
of higher grade silver ore from the Chivo mine, which is now being
accessed through the new mine adits that are being developed.  Ore
recovered from this mine incurs higher trucking, mining and
amortization costs than ore recovered from the old Guadalupe mine which
is immediately adjacent to the mill.

Production for the nine months ended September 30:

-----------------------------------------------------------------------
                             Sept 30, 2008    Sept 30, 2007    % Change         
-----------------------------------------------------------------------
Total tonnes (t) produced           76,083           75,569         +1%
-----------------------------------------------------------------------
Tonnes produced per day                278              278         +1%
-----------------------------------------------------------------------
Silver production (Oz)             421,792          245,177        +72%    
-----------------------------------------------------------------------
Lead production (t)                 555.78           448.04        +24%
-----------------------------------------------------------------------
Zinc production (t)                 753.48           716.97         +5%
-----------------------------------------------------------------------
Revenue per production tonne sold   $91.25           $68.01        +34%
-----------------------------------------------------------------------
Direct costs per tonne produced     $54.10           $43.85        +23%
-----------------------------------------------------------------------

Chivo Mine
During the first nine months of 2008, Chivo provided 56% of the ore and
the majority of the high silver grade feed.  Ore from Chivo is the
principal reason that silver production increased in the first nine
months of 2008.  A second adit approximately 60 meters vertically lower
on the structure has been started and is expected to reach the main
vein in the fourth quarter of 2008.  At that point, Chivo will provide
additional high grade development muck to the mill.

Guadalupe and Gallega Mines
Approximately 42% (2007 -- 100%) of the mill feed for the first nine
months was from mining of medium grade mineral at the Guadalupe and
nearby Gallega Mines.  As a result of intensive underground exploration
over the last nine months, the Guadalupe Mine is now undergoing
redevelopment with rebuilding of track access to new planned production
areas in the Kena-Dolores Zone and a number of nearby veins that are
providing limited feed to the mill. Subsequent to the end of the third
quarter production was reduced at both mines and efforts directed to
mine development of higher grade structures.

Exploration
During the quarter IMPACT announced more high grade drill results that
continued to expand the mineral zone at the Chivo Mine to over 300m in
strike length and still open for expansion. These results included
drill intercepts on the south extension of the Chivo Mine zone,
including 3,902 g/t silver, 3.96% zinc, 2.16% lead over 1.9 meters true
width ("TW") and on the north extension, including 1,118g/t silver,
5.45% zinc, 1.5% lead over 1.4 meters TW.  Subsequent to quarter end,
IMPACT announced the commencement of a 5,000 meter drill program to
test numerous gold-copper and silver targets in the Noche Buena-Carlos
Pacheco Mining Camp on the west side of the Royal Mines of Zacualpan
District.  During the quarter, IMPACT also announced the acquisition of
several new concessions more than doubling the Company's mineral
concession holdings in the Royal Mines of Zacualpan District from 125
square kilometers to 272 square kilometers.

IMPACT Silver Corp. is a silver focused mining and exploration company
operating in Mexico with a producing silver operation at the Royal
Mines of Zacualpan, the 200km2 advanced Mamatla Silver District and a
portfolio of projects with a producing mill at Zacatecas.

On behalf of the Directors of IMPACT Silver Corp.,

"Frederick W. Davidson"
President, CEO

For further information, please contact:
Darrell Rader, Corporate Development
Telephone: 604 681 0172


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

=======================================================================
Copyright (c) 2008 IMPACT SILVER CORP. (IPT)  All rights reserved.  For
more information visit our website at http://www.impactsilver.com/ or
send mailto:inquiries@impactsilver.com
=======================================================================
.