Oct 28, 2010 09:00 ET

ISS Proxy Advisory Services Recommends Genco Resources Ltd. and Silvermex Resources Ltd. Shareholders Vote in Favour of the Plan of Arrangement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 28, 2010) - Silvermex Resources Ltd. (TSX VENTURE:SMR) ("Silvermex") and Genco Resources Ltd. (TSX:GGC) ("Genco"). Genco Resources Ltd. and Silvermex Resources Ltd. announced today that ISS Proxy Advisory Services (formerly Riskmetrics) a leading provider of proxy research, who provides advice and voting recommendations to many larger financial institutions, has published a report recommending that their subscribers vote "FOR" the special resolution approving the plan of arrangement.

"We are pleased to have received a positive recommendation in favor of the plan of arrangement from an independent source," said Duane Nelson Director, CEO of Silvermex.

The combined company will possess a fully operational mine and a substantial silver reserve and resource base. The transaction will provide shareholders with an experienced, production-focused, management team with a successful record of enhancing shareholder value. The combined company will be well capitalized with over $6 million in cash.

The Silvermex Annual and Special Meeting of shareholders will be held at the offices of Lang Michener LLP, 1500 Royal Centre 1055 West Georgia Street in Vancouver at 10:00 a.m. (Vancouver time) on Tuesday, November 9, 2010 to consider the proposed Arrangement. Shareholders are urged to carefully read the information circular mailed to them in connection with the proposed Arrangement.

James R. Anderson, Acting CEO of Genco said, "We are delighted with the positive response received to date from fellow shareholders and ISS. I look forward to seeing the demonstrated skills of Silvermex management at work in unlocking the value of La Guitarra."

The Genco Special Meeting of the shareholders will be held at the company offices, suite 525 999 West Hastings Street in Vancouver at 10:00 a.m. (Vancouver time) on Tuesday, November 9, 2010 to consider the proposed Arrangement. Shareholders are urged to carefully read the information circular mailed to them in connection with the proposed Arrangement.

It is extremely important that all shareholders exercise their right to vote. Proxies must be received no later than 10:00 a.m. (Vancouver time) on November 5, 2010. Shareholders who have questions regarding the contents of the information circular or require assistance in completing their proxy forms are urged to contact the proxy solicitation agent, The Laurel Hill Advisory Group toll-free at 1-877-304-0211.

About Silvermex

Silvermex Resources is a well funded exploration and development company focused on advancing the recently consolidated Rosario/San Marcial Mining Camp in south eastern Sinaloa, Mexico. This mining concession consists of 2 past producing mines and numerous known high-grade deposits. The project has significant resources and historic reserves with extensive production related infrastructure in place. Silvermex is led by a highly experienced and successful team, comprised of top executives from leading corporations in the silver mining sector.

About Genco

Genco Resources Ltd. is a publicly traded mining company focused on developing its core asset, the producing La Guitarra silver-gold property located in the Temascaltepec Mining District of Mexico. La Guitarra Mine presently consists of two underground operation centres and a flotation mill with a proven capacity of 320 tonnes per day. Genco is evaluating options for the expansion of existing mining operations at La Guitarra Mine.

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 include assumptions regarding the proposed transaction between Silvermex and Genco, including that it will be completed in accordance with the terms and conditions of the Agreement. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause 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. These risks include that the transaction is not completed or that the combined company is not able to achieve expected results, as well as other risks and uncertainties described in Silvermex's and Genco's public filings.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect management's judgment regarding future events, 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.

For more information, please contact

Silvermex Resources Ltd.
Duane Nelson
Director, Chief Executive Officer
604-512-8118
duane@silvermexresources.com
www.silvermexresources.com
or
Genco Resources Ltd.
James R. Anderson
Acting Chief Executive Officer
(604) 682-2205 ext 223
info@gencoresources.com
www.gencoresources.com