Great Panther Silver Reports Initial Mineral Resource Estimate at San Ignacio Project, Guanajuato

Great Panther Silver Limited (NYSE Amex: GPL; TSX: GPR) announced today the initial mineral resource estimate at the Company’s 100% owned San Ignacio Project in Guanajuato, Mexico. The 2011 mineral resource estimate comprises Inferred Mineral Resources of 611,000 tonnes at 127g/t silver and 2.05g/t gold (4,494,000 Silver Equivalent Ounces (Ag Eq Oz)), using a 118g/t Ag Eq cut-off grade. Drilling is continuing, with a total of 40 holes now completed, and the resource will be updated on a periodic basis.

Robert Archer, the Company’s President & CEO stated in the release: “The initial resource estimate at San Ignacio is an excellent start in proving up this new discovery for Great Panther Silver. Past production on the Plateros Vein on the western side of the property was only 617,455 tonnes at 113g/t Ag and 1.01g/t Au over a period of 24 years (1977-2001) so the new zones are already showing much greater potential and significantly higher gold grades.”

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