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Silvermex Resources Ltd. Announces $7,000,000 Financing Tuesday February 26, 11:09 am ET VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2008) - Silvermex Resources Ltd. ("Silvermex" or the "Company") (TSX VENTURE:SMR - News) is pleased to announce that it has arranged a brokered private placement (the "Offering") of units of the Company (the "Units") to be led by Versant Partners Inc. (the "Agent") and which will include Canaccord Adams Inc. The Offering is expected to raise gross proceeds of $5,000,000, with Silvermex granting the Agent an option to increase the size of the Offering by up to an additional $2,500,000 at any time up to the closing date of the offering, which is expected to be on or about March 20, 2008. ADVERTISEMENT Each Unit will consist of one common share and one-half of one share purchase warrant (each whole warrant, a "Warrant") at a price of $1.00 per Unit. Each Warrant will entitle the holder to purchase one additional common share of Silvermex at a price of $1.25 per share for a period of 12 months from the date of issuance of the Warrant. The Agent will receive cash commission of 8% of the gross proceeds of the Offering and broker warrants ("Broker Warrants") equal to 8% of the number of Units issued pursuant to the Offering. Each Broker Warrant will entitle the Agent to subscribe for one Unit at the Offering price of the Units. In addition, the Agent will receive a corporate finance fee of $25,000. Silvermex has also arranged a non-brokered private placement of up to 2,000,000 units ("NB Units") to raise gross proceeds of up to $2,000,000. The NB Units have the same terms as the Units. Completion of the Offering and the Non-Brokered Placement is subject to the approval of the TSX Venture Exchange and all required regulatory approvals. All securities issued in connection with the Offering and the Non-Brokered Placement will be subject to a regulatory hold period of not less than four months and one day from the date of issuance of such securities. The net proceeds of the private placements are intended to be used to fund work programs on Silvermex's Penasco Quemado, San Marcial, Lobos, El Rayo and Lety properties in Mexico and for general working capital purposes. On Behalf of the Board of Directors of Silvermex Resources Ltd. Bruce Bragagnolo, CEO This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect out current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Contact: Bruce Bragagnolo, LLB. Silvermex Resources Ltd. CEO (604) 682-4004 Email: bruce@silvermexresources.com Darcy Krohman, P.Geo., C.A. Silvermex Resources Ltd. Vice-President & CFO (604) 682-4004 Email: darcy@silvermexresources.com Jason Leikam Silvermex Resources Ltd. - Investor Relations Corporate Development (604) 682-4004 (604) 682-4009 (FAX) Email: jason@silvermexresources.com Website: silvermexresources.com