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IMPACT Silver Drills 312 Grams Per Tonne Silver Across 2.87 Meters at La Condesa, in Zacualpan, Mexico

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/19/12 -- IMPACT Silver Corp. ("IMPACT") (TSX VENTURE:IPT) is pleased to announce first phase drill results from multiple veins at the La Condesa Prospect in the Royal Mines of Zacualpan District in Mexico. La Condesa area can be accessed from the underground workings of the historic Cuchara Mine, which are currently being refurbished to mine IMPACT's nearby high grade Oscar silver zone (see IMPACT news releases dated August 22, 2012 and April 23, 2012).

It was the intention of this La Condesa drill program to outline sufficient mineralization that would augment the planned production from the Oscar Veins. Access to La Condesa Veins would be through a different part of the historic Cuchara Mine underground workings than the access to Oscar, thereby creating separate mining areas and multiple mining faces. An exploration crosscut from the Cuchara underground workings dating from the 1980s, now provides initial underground access to La Condesa. Mine engineering studies are now required to confirm the resource.

Summarized below are the more significant intersections from La Condesa first phase drill program:

                   La Condesa - First Phase Drill Results                   
                                                                            
                                                True                       
                                       Inter- Thick-                       
Hole   Drill               From     To    val   ness  Silver  Gold Lead Zinc
Number Section Vein Name meters meters meters meters     g/t   g/t    %    %
----------------------------------------------------------------------------
Z12-28 21+50 N Resguardo  14.75  16.80   2.05   1.94   157.2 0.019 0.02 0.13
----------------------------------------------------------------------------
Z12-29 21+50 N Maria de   85.80  87.30   1.50   1.43    98.5 0.014 0.04 0.09
               Jesus                                                        
----------------------------------------------------------------------------
Z12-30 21+50 N Resguardo  53.50  56.00   2.50   2.37   201.6 0.026 0.07 0.80
----------------------------------------------------------------------------
Z12-32 23+50 N Maria de  124.83 126.88   2.05   1.52   204.0 0.108 0.33 2.32
               Jesus                                                       
and    23+00 N Trans-     61.85  63.30   1.45   0.89 1,773.1 0.068 0.20 1.48
               verse Vein                                                  
----------------------------------------------------------------------------
Z12-36 23+00 N Maria de  156.80 158.15   1.35   0.90   294.4 0.054 0.13 0.62
               Jesus                                                       
----------------------------------------------------------------------------
Z12-38 24+00 N Yerb-     106.60 109.35   2.75   1.94   152.0  0.38 2.90 0.09
               abuena                                                      
----------------------------------------------------------------------------
Z12-39 23+00 N Resguardo 167.30 171.00   3.70   2.87   312.0 0.029 0.27 0.90
and    23+00 N Trans-    180.00 181.00   1.00   0.80   100.0 0.010 0.16 0.11
               verse 1                                                     
and    23+00 N Maria de  185.00 187.00   2.00   1.78    94.2 0.010 0.13 0.11
               Jesus                                                       
----------------------------------------------------------------------------
Z12-40 22+00 N Maria de  164.00 168.00   4.00   3.96   127.0 0.005 0.05 0.16
               Jesus                                                       
----------------------------------------------------------------------------
Z12-42 21+50 N Maria de  136.00 139.78   3.78   3.59   214.0 0.269 0.15 0.37
               Jesus                                                       
----------------------------------------------------------------------------
Z12-43 21+00 N Maria de  123.85 129.50   5.65   5.64   129.8 0.021 0.09 0.08
               Jesus A                                                     
----------------------------------------------------------------------------
Z12-44 24+00 N Yerba-    136.43 140.40   3.97   3.47   116.0 0.001 0.10 0.29
               buena 3                                                     
----------------------------------------------------------------------------
Z12-45 24+00 N Yerba-    177.90 179.00   1.10   0.98 1,655.0 0.010 0.25 0.08
               buena 3                                                     
----------------------------------------------------------------------------
Z12-46 24+50 N Maria de  151.40 154.25   2.85   2.67   255.0 0.111 0.22 0.46
               Jesus                                                       
----------------------------------------------------------------------------
Z12-47 23+50 N Resguardo  22.10  23.00   0.90   0.88   141.0 0.010 0.02 0.06
and    23+50 N Trans-    109.00 110.50   1.05   0.90   720.0 0.030 0.25 0.52
               verse 1                                                     
----------------------------------------------------------------------------
Z12-49 24+50 N Maria de  185.00 186.45   1.45   1.36   200.2 0.038 0.19 0.79
               Jesus A                                                     
and    24+50 N Maria de  194.95 196.47   1.52   1.42   149.6 0.864 0.82 2.13
               Jesus B                                                     
----------------------------------------------------------------------------
Z12-54 24+50 N Maria de  242.70 243.30   0.60   0.56   320.0 0.260 0.18 0.95
               Jesus B                                                     
----------------------------------------------------------------------------
Z12-55 21+00 N Resguardo  57.80  59.60   1.80   1.76   245.3 0.030 0.12 0.36
----------------------------------------------------------------------------
Z12-58 25+00 N Maria de  199.10 201.00   1.90   1.78   186.4 0.108 0.41 1.15
               Jesus                                                       
----------------------------------------------------------------------------
Z12-61 20+50 N Maria de   50.00  51.20   1.20   1.12   137.8 0.051 0.08 0.17
               Jesus                                                       
----------------------------------------------------------------------------
Z12-62 20+50 N Resguardo  24.70  25.75   1.05   0.74   297.0 0.020 0.04 0.06
and    20+50 N Trans-     54.80  56.80   2.00   1.28    70.5 0.015 0.06 0.11
               verse 3                                                     
and    20+50 N Maria de   79.05  79.90   0.85   0.54   198.2 0.018 0.11 0.25
               Jesus                                                       
----------------------------------------------------------------------------
Z12-63 20+50 N Maria de  106.50 108.85   2.35   2.22   230.9 0.010 0.16 0.26
               Jesus                                                       
----------------------------------------------------------------------------
Z12-64 20+50 N Maria de  101.10 105.55   4.45   3.99   199.8 0.035 0.21 0.49
               Jesus                                                       
----------------------------------------------------------------------------
Z12-65 20+50 N Maria de  137.15 138.40   1.25   1.24   242.6 0.018 0.17 0.41
               Jesus                                                       
----------------------------------------------------------------------------
Z12-67 23+00N  Maria de   51.57  53.00   1.43   1.04   116.2 0.017 0.07 0.13
               Jesus                                                       
----------------------------------------------------------------------------
Z12-68 23+50N  Maria de   46.40  50.30   3.90   3.66   249.6 0.009 0.07 0.16
               Jesus                                                       
----------------------------------------------------------------------------

The mineralization at La Condesa consists of two main northeasterly dipping structures (Maria de Jesus and Resguardo), plus a number of smaller northwesterly dipping transverse veins all of which occur 200 meters southwest of the Cuchara Mine workings.

To date, the Resguardo and Maria de Jesus Veins have been mapped on surface and in underground workings for a strike length in excess of 750 meters. Both remain open for extension to the southeast and to depth. To the southeast, one of the last drill holes (Z12-64) of this first phase program intersected 199.8 g/t silver over 3.99 meters true width (TW). La Condesa remains open to expansion at depth, where one of the deepest drill holes (Z12-39) intersected 312.0 g/t silver over 2.87 meters (TW). The locally high grade nature of the La Condesa mineralization is demonstrated by two intersections within the central portion (Z12-32 and Z12-45) which produced grades exceeding one kilogram per tonne of silver (1,773 g/t over 0.89 meters TW and 1,655 g/t over 0.98 meters TW, respectively). Native silver was also observed in three drill holes at La Condesa, which to date are the only holes IMPACT has drilled in which this mineralogy is clearly visible. To the southeast, both structures pass into the Santa Efigenia area, which is known to contain some of the higher silver grades in Zacualpan District (up to 3,700 g/t silver in old mine workings). Geological mapping and sampling was recently completed in this area in preparation for future drilling.

Future drilling at La Condesa will emphasize expanding the mineralization to the southeast and to depth. It is also anticipated that detailed definition drilling using underground drills, currently onsite, will be used to better define the La Condesa mineralization.

Future Plans for the Cuchara Mine Development Area

A surface drill program is planned for the Cuchara North area that lays 200 meters to the northeast of the La Condesa Veins and represents the northwesterly extension to the Oscar Veins that are currently slated for production. A second drill program is planned for the southwest dipping El Copal Veins located 175 meters to the west of La Condesa. A third drill program is planned for the Santa Efigenia area, located immediately to the southeast of La Condesa on the extensions to the Maria de Jesus and Resguardo Veins, after results of geological mapping and sampling have been interpreted. If results of this drilling prove successful, it is anticipated that these areas (Oscar, La Condesa, Cuchara North, El Copal and Santa Efigenia) would be connected by a series of underground workings, which in turn would represent separate mining areas, all of which originate from the same Cuchara Mine portal.

Brian Hall, M.Sc., P. Geo., Nigel Hulme, P. Geo. and Wojtek Jakubowski, P. Geo., Qualified Persons under the meaning of Canadian National Instrument 43-101, are responsible for the technical content of this news release.

IMPACT Silver Corp. is a precious metal mining and exploration company operating in central Mexico, with a producing silver operation at the 423-square-kilometer Royal Mines of Zacualpan Silver District which includes the La Condesa area, the adjoining 200-square-kilometer Mamatla VMS District which includes the advanced Capire Mine Development Project, and a 16.5% shareholding in Defiance Silver Corp. who are advancing IMPACT's 200 tpd mill and mineral concessions in the Zacatecas Silver District. Additional information including a map of the Cuchara/La Condesa vein systems can be found on the Company website at www.IMPACTSilver.com under Projects - Zacualpan.

On behalf of the Directors of IMPACT Silver Corp.

Frederick W. Davidson, President & CEO

Forward-Looking Statements

This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
IMPACT Silver Corp.
Meghan Brush
Investor Relations
(604) 681 0172
(604) 681 6813 (FAX)
[email protected]
www.IMPACTSilver.com

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