Mr. David Coburn reports

MASIVO SILVER COMPLETES PHASE 1 DRILL PROGRAM AT CERRO COLORADO AND APPOINTS CHIEF FINANCIAL OFFICER

Masivo Silver Corp. has provided a corporate update as it expects to complete its phase 1 drill program at Cerro Colorado this week, consisting of seven holes totalling 1,601 metres. The company believes the program achieved its primary geological objectives and has provided important information regarding the scale and continuity of the system, with encouraging geological observations that assays may indicate the potential for a significant mineralized system.

Drilling to date has encountered encouraging alteration and mineralization, including sericite alteration and increasing indications of sulphide presence, consistent with the targeted silver-copper system and supporting confidence in the scale and continuity of mineralization at depth. Assays from the drill holes are expected to be received and released on a rolling basis as they become available from the laboratory.

In conjunction with this progress, the Company announces it has amended the terms of its option agreement covering the Cerro Colorado property. The originally planned eighth drill hole was deferred to a future phase 2 program for cost-efficiency. Also, the share consideration payable upon completion of phase 1 was adjusted from 300,000 common shares to 450,000 common shares to compensate for incidentals.

Completion of the phase 1 program also triggers the commencement of the anniversary payment schedule, under which Masivo may earn up to 100-per-cent interest in the project through a series of milestone and anniversary payments.

Upon the 48-month anniversary and provided all commitments between Masivo Silver, Minera Goldzone and the related partners have been fulfilled, Masivo will earn a 100-per-cent interest in the Cerro Colorado project, subject to a 1.5-per-cent net smelter return (NSR) royalty retained by Minera Goldzone and partners. Masivo retains the right to purchase 100 per cent of the NSR royalty for $1-million (U.S.).

Appointment of Scott Kelly

The board of directors and management of Masivo Silver would like to thank Michele Pillon for her many years of dedicated service as chief financial officer and wish her well in her retirement from Masivo. Masivo is pleased to welcome Scott Kelly, CPA, as chief financial officer. Mr. Kelly brings more than two decades of senior financial, operational and public company experience in the mining sector, having played key roles in the financing, development, acquisition and operation of mining and exploration companies throughout Canada, the United States, Mexico and Central America.

Mr. Kelly previously served as chief financial officer of Mako Mining Corp., where he was involved in the construction and operation of a producing gold mine in Sinaloa, Mexico, while also assisting in the acquisition and development of additional mining assets in Nicaragua. He also served as chief financial officer of Ely Gold Royalties Inc., which successfully built a portfolio of royalty and mineral assets across Nevada and the Western United States before being acquired by Gold Royalty Corp. in a transaction valued at approximately $300-million.

Most recently, Mr. Kelly has served as co-founder, director and chief financial officer of Dryden Gold Corp., where he helped guide the company from private start-up through its public listing on the TSX Venture Exchange and multiple successful financings. The company believes Mr. Kelly's extensive experience in public company finance, mine development, project acquisition and capital markets will be a valuable addition as Masivo advances the Cerro Colorado project and continues evaluating additional growth opportunities.

The company also announces that, subject to regulatory approval, it has granted an aggregate of 500,000 incentive stock options to certain directors, officers, employees and consultants of the company pursuant to its stock option plan. The options are exercisable at a price of 13 cents per common share for a period of five years from the date of grant. Included in the option grant are 500,000 options issued to newly appointed chief financial officer, Mr. Kelly.

Qualified person

The technical information contained in this news release has been reviewed and approved by Brian Brewer, PGeo, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Masivo Silver Corp.

Masivo Silver is a Canadian junior exploration company focused on acquiring, exploring and advancing precious and base metal projects in Mexico and Nevada (United States). The company's current portfolio includes the Cerro Colorado property in Sonora, Mexico, and the Boston mine project in Nevada. The company's processing facility located in Nayarit is capable of processing up to 300 tons of ore per day.

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