Prospero to Complete 5:1 Share Consolidation

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 15, 2015) - Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") is pleased to announce that the previously disclosed proposed consolidation of the common shares of the Company on the basis of five pre-consolidation shares for one post-consolidation share (the "Consolidation") will take effect, subject to final acceptance by the TSX Venture Exchange, on or about June 15, 2015 under new CUSIP number 743624207. There will be no name change or trading symbol change in conjunction with the Consolidation.

The Consolidation was approved by the Company's shareholders at the Annual General Meeting held on May 27, 2015.

Following the Consolidation, the total issued and outstanding common shares of the Company will be approximately 9,173,293.

About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in Mexico and who work for its wholly owned subsidiary Minera Fumarola, SA de CV (Fumarola). Prospero's objective is to quickly evaluate the properties currently optioned for their suitability to provide size potential and/or amenability for strategic joint ventures.

Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, completion of the proposed consolidation of the Company's common shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. Factors that could cause actual results to differ materially from these forward looking statements include, but are not limited to, the Company's inability to obtain any necessary regulatory and shareholder consents or authorizations required for the proposed loan transaction and subsequent consolidation of the Company's share capital necessary to permit loan conversions into Conversion Units. The reader is referred to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, including the risk factors discussed in Prospero's November 27, 2009 prospectus. Except as required by securities laws and the policies of the TSXV, Prospero disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the 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.

Contact

William Murray
Chairman
(604) 288-7813