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124 million oz Silver Equivalent
Message: Provides Clarification of Joint Venture Agreement
| April 16, 2009 |
| Orko Silver Provides Clarification of Joint Venture Agreement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2009) - Orko Silver Corp. ("Orko") (TSX VENTURE:OK) wishes to clarify the confusion surrounding the terms of the Joint Venture agreement announced in a joint press release with Pan American Silver Corp. dated April 14, 2009. Pan American Silver Corp. and Orko Silver Corp. have reached an agreement for the joint development of Orko Silver's La Preciosa silver project. Under the terms of the Joint Venture agreement: Pan American Silver will contribute 100% of the necessary funds to develop La Preciosa to production to acquire 55% interest in the project. Orko Silver retains a 45% interest carried to production. In addition, Pan American Silver is undertaking a private placement of 4,000,000 common shares of Orko at a purchase price of CDN $1.25 per share, with certain anti-dilution and pre-emptive rights to participate in future financings of Orko. About Orko Silver Orko Silver Corp. is developing one of the world's largest primary silver deposits, La Preciosa, located near the city of Durango, Mexico. ON BEHALF OF THE BOARD OF DIRECTORS Gary Cope, President |
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