Strike Length Of Silver-Gold Veins Extended At San Ignacio Property 

VANCOUVER, BC -¨ Great Panther Silver Limited reported on a further 14 holes from the diamond drilling program at the Company's wholly-owned San Ignacio property in Guanajuato, Mexico. Drill-holes ESI11-025 to ESI11-038, inclusive were drilled from section 650N to section 450N and extend the strike length of the mineralized zones by approximately 50%, or 150 metres, farther south of the initial, inferred mineral resource estimate comprising 611,000 tonnes grading 127 g/t silver and 2.05 g/t gold (4,494,000 Silver Equivalent Ounces). The mineralized zones are still open along strike to the north and south.

The three most significant mineralized zones tested by the above drilling were the Intermediate, Nombre de Dios, and an undefined structure between the Intermediate and Nombre de Dios zones. Highlights (see table below) of the Intermediate zone drilling include 213g/t silver and 1.81g/t gold over 5.20 metres in ESI11-026 (section 550N), 119g/t silver and 2.61g/t gold over 10.65 metres in ESI11-031 (section 450N), and 171g/t silver and 3.15g/t gold over 4.50 metres in ESI11-036 (section 500N). Highlights of the Nombre de Dios zone drilling include 139g/t silver and 9.37g/t gold over 0.89 metres in ESI11-025 (section 650N), 99g/t silver and 3.90g/t gold over 1.08 metres in ESI11-029 (section 550N), and 17g/t silver and 5.58g/t gold over 0.50 metres in ESI11-034 (section 450N). The undefined zone has been intersected along 100 metres of strike with highlights of 1,110g/t silver and 16.90g/t gold over 0.55 metres in ESI11-028 (section 550N), 476g/t silver and 5.28g/t gold over 5.55 metres in ESI11-032 (section 450N), and 90g/t silver and 2.79g/t gold over 0.50 metres in ESI11-035 (section 500N). 

Drilling was initially completed on 100 metre spaced sections (ESI11-025 to ESI11-034) working from 650N to 450N. Holes ESI11-035 to 038 are the first in-fill drill holes at 50 metre spacing, completed on section 500N.  

Characteristics of the Intermediate zone structure are a near vertical dipping, well banded silica vein with silica brecciated and stockworked flanks, and having highly variable thickness from less than one to nine metres. The Nombre de Dios zone is a distinctly banded silica vein dipping approximately 65 degrees to the west and varying in width from 0.5 to two metres. The undefined zones are a complex mix of silica breccia, stockwork, and some banded silica veins and are steeply dipping. All the zones are hosted in highly competent, near flat lying, andesite and basalt flows and pillow lavas. 

Presently, and through to December, the drill rig is completing fill-in holes from 600N to 900N to upgrade the mineral resource estimate classification. A second drill will be added to the project in the first quarter 2012 to extend the drilling for approximately 800 metres south of section 450N. 

Detailed geological mapping, geological studies, outcrop sampling, and re-sampling of old underground workings are on-going to highlight additional priority targets along the four kilometres of prospective structures. The San Ignacio project is located in the La Luz vein system of the Guanajuato silver-gold district.