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VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 13, 2010) - Prospero Silver Corp. (TSX VENTURE:PSL) ("Prospero" or the "Company") announces that at its recently held Annual General Meeting of Shareholders on May 10, 2010, shareholders approved all matters placed before them in the normal course of business.

The Company is pleased to welcome Mr. John E. Watson to the board of directors of the Company. Mr. Watson is currently President and CEO of NV Gold Corporation (TSX-V "NVX") and serves on the board of directors of South American Silver Corporation (TSX "SAC") and High Desert Gold Corporation (TSX-V "HDG"). Mr. Watson's educational credits include a B.A. in Geology from the University of Texas at Austin and an M.S. in Mineral Economics from Colorado School of Mines. Mr. Watson has been active in mine exploration and development for over 30 years. His achievements in that time period include the successful development of mines, corporate development activities, an IPO and various other financings and serving in executive positions for a number of publicly traded companies.

This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including statements regarding future exploration plans. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR ([ www.sedar.com ]), including the risk factors discussed in Prospero's November 27, 2009 prospectus. Although Prospero believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, Prospero disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.