announces results for the fiscal year ended December 31, 2011. Overall financial performance improved

throughout the reporting period, compared to that of the previous year, attributed to the Company’s

mining operations at La Guitarra achieving full capacity of mill throughput and, in turn, increased sales.

Highlights, which should be read in conjunction with the audited financial statements and

management’s discussion and analysis available on

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The Company achieved adjusted net income, which excludes share based compensation and the write

down of the San Marcial mineral property, for the year ended December 31, 2011 of $5.2 million (non-

GAAP) compared to adjusted losses of the same period in 2010 of $3.4 million (non-GAAP). Net loss was

$4.4 million for the year ended December 31, 2011 compared with a net loss of $42.2 million for the

same period in 2010. For the three months ended December 31, 2011, the Company achieved net

income of $3.1 million compared with a net loss of $4.8 million in Q3 and a net loss of $38.1 million in

Q4 of 2010.

The Company achieved a gross profit of $6.5 million for the year ended December 31, 2011, on sales of

gold and silver of $16.8 million compared with a gross profit of $1.1 million for the comparative 2010

periods on sales of gold and silver of $4.0 million. Since December 31, 2010, the average realized price

to the Company of silver and gold over the 2011 year has increased by 31.5% and 18%, respectively,

which contributed to the improvement in gross profit.

At December 31, 2011, the Company had cash, restricted cash and short term investments of $20.9

million, current assets of $25.3 million, working capital of $19.1 million, and total assets of $71.2 million.

With the La Guitarra mill now running at full capacity, 2012 production is expected to increase to

500,000 ounces of silver and 5,000 ounces of gold.

Commenting on the year ahead, Duane Nelson, Silvermex’s CEO, stated: “I am very pleased with the

progress we made in 2011 at our La Guitarra Mine. Even with the extensive equipment acquisitions,

mine and mill improvements and developments, we operated at a profit in the fourth quarter of the

year. 2012 will be a year of continued growth for us. We now have an updated mining equipment fleet,

a well trained workforce and our current exploration programs have been very successful in delineating

additional high grade ore shoots. We will concentrate on the development of these new ore shoots to

improve head grades and production. Our primary focus for 2012 will be on developing a new mine plan

that can expand production well beyond our current capacity”.

Silvermex Resources Inc. is a publicly traded mining company focused in Mexico and led by a highly

qualified team of professionals from some of the most notable companies in the silver mining sector.

The Company’s portfolio of projects ranges from early stage exploration to production. Its core asset is

the producing La Guitarra silver-gold mine located in the Temascaltepec Mining District of Mexico.

Silvermex is currently working to identify future production centers through extensive exploration

programs to further develop the district. Silvermex is well financed to further develop resources

organically from its multiple projects as well as from the acquisition of additional assets that will drive

production growth.

ON BEHALF OF THE BOARD

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Duane Nelson

CEO & Director

For more information please visit the Company’s website at