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Mexican Silver Mines Discovers New High Grade Veins at its La Blanca Property

Mexican Silver Mines Ltd. (“Mexican Silver”) (TSXV: MSM; Frankfurt WKN: A0MSLE) has received the assay results from three drill holes at its La Blanca property which have identified a new silver-lead-zinc rich vein.

Mineralization at La Blanca is hosted in a system of veins. Sulphides consist of multiphase galena bands with fine to medium grained argentite and sphalerite, with calcite, quartz and pyrite as gangue minerals, hosted in calcareous rocks of the Upson Formation.

Previous work by Mexican Silver consisted of trenches on surface in the area which returned grades of between 897 g/t and 4,110 g/t silver and values of 59 to 83% lead. Please refer to Mexican Silver’s news release dated May 30, 2007 for additional details regarding this work.

Three drill holes tested the mineralized area for 500 metres in length, with positive results. All three drill holes cut mineralization. Material assay results are shown in the following tables.

Please find the results under the following link: http://www.irw-press.com/dokumente/MSM_120508_engl.pdf

These drill results have defined veins which average 0.5 metres in width with attractive mineralization grades and are believed to be part of a system hosting high grade mineralization encountered in prior trench testing.

Mexican Silver will extend the trenching program to test 1500 metres of strike along the vein system with concurrent systematic sampling and geological mapping. A second phase of drilling is intended to be undertaken at La Blanca with the goal of delimiting the mineralization both laterally and to depth.

All drill core samples were shipped to ALS Chemex Laboratory ("Chemex") for analyses. Chemex has an International Standard Organization rating of ISO 9001:2000 and is independent of Mexican Silver. The split drill core sample was crushed and a sub-sample (aliquot) split off, pulverized and screened through a 150 mesh screen. Analyses were preformed using standard acid digestion and spectrographic techniques.

Mexican Silver follows a rigorous Quality Assurance/Quality Control program consisting of inserting standards and duplicates into the sample stream submitted to Chemex for analyses.

Mr. William Dynes, P. Geol., the project supervisor of Mexican Silver's drilling program at La Blanca, is Mexican Silver’s nominated Qualified Person and is responsible for the quality assurance and quality control of the programs completed at La Blanca. Mr. Dynes has reviewed and verified the technical information contained in this news release.

About Mexican Silver Mines

Mexican Silver Mines is a silver focused junior resource company developing three former silver producing properties in north-eastern Mexico. To learn more about Mexican Silver Mines, please visit: www.mexicansilvermines.com.

ON BEHALF OF THE BOARD OF
MEXICAN SILVER MINES LTD.
__________________________________
Feisal Somji, B.Sc., MBA
President and Chief Executive Officer

FOR FURTHER INFORMATION, CONTACT:

Mexican Silver Mines Ltd. Investor Relations
Feisal Somji, President & CEO Jamie Mathers, Ascenta Capital Partners Inc.
Phone: 403.236.5089 Phone: 604.684.4743 ext. 236
Fax: 403.398.0693 Phone: 1.866.684.4209
Email: info@mexicansilvermines.com Email: jamie@ascentacapital.com
Web: www.mexicansilvermines.com

This news release contains forward-looking information including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations and potential mineral recovery processes. Forward-looking information includes disclosure regarding possible future events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. When used in this news release. The words "estimated", "plan", "anticipated", "expected", "intend", believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Mexican Silver to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. For any forward-looking information given, management has assumed that the analytical results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, there can be no assurance that forward-looking statements will prove to be accurate and actual results may differ materially from those currently anticipated in such statements. For such statements, we claim safe harbour.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.