Silvermex and Genco Shareholders Approve Combination Transaction

VANCOUVER, BRITISH COLUMBIA, Nov 09, 2010 (MARKETWIRE via COMTEX) --Silvermex Resources Ltd. ("Silvermex")and GencoResources Ltd. ("Genco") are pleased to announce that thepreviously announced business combination transaction betweenSilvermex and Genco pursuant to a plan of arrangement under theBusiness Corporations Act (British Columbia) (the "Arrangement") hasbeen approved by their respective shareholders. The Arrangementprovides for the acquisition by Genco of all of the issued andoutstanding common shares of Silvermex, with each Silvermexshareholder receiving one common share of Genco for each Silvermexcommon share. Prior to the completion of the Arrangement, Genco willsubdivide all of its outstanding common shares on a 1.1-for-one basis(the "Subdivision").

At the annual general and special meeting of Silvermex shareholdersheld today, the special resolution approving the Arrangement wasapproved by 99.3% of the votes cast by shareholders entitled to voteon the resolution. All other resolutions proposed at the annualgeneral and special meeting were duly passed by the shareholders ofSilvermex.

At the special meeting of Genco shareholders also held today,ordinary resolutions approving the Subdivision and the issuance ofGenco common shares in connection with the Arrangement were approvedby 99.0% and 99.5%, respectively, of the votes cast by shareholdersentitled to vote on the resolutions. Genco anticipates that itscommon shares will begin trading on the Toronto Stock Exchange on apost-Subdivision basis on or prior to the completion of theArrangement.

The Arrangement is expected to be completed on or about November 16,2010, and is subject to customary regulatory consents and otherapprovals, including final approval of the Supreme Court of BritishColumbia.

Further details regarding the Arrangement are set out in Silvermex'sNotice of Special Meeting and ManagementInformation Circular datedOctober 6, 2010 and Genco's Notice of Special Meeting and ManagementInformation Circular dated October 8, 2010, which are available atwww.sedar.com.