Great Panther Silver Ltd (GPR)

[NYBob]

Great Panther Silver Reports First Quarter 2012 Production
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2012) -

GREAT PANTHER SILVER LIMITED
(TSX:GPR)(NYSE Amex:GPL) (the "Company") reports first quarter
("Q1") production at its two wholly-owned Mexican silver mining
operations, Guanajuato and Topia.

Metal production continues to improve and, at 557,667 silver
equivalent ounces ("Ag eq oz"), was up 2% over the fourth
quarter of 2011.

Silver production totaled 359,526 oz and silver metal recovery
at the Guanajuato plant reached an all-time high of 90.1%. As
well, a quarterly record of gold production was achieved with
2,729 ounces (oz) produced.

The following summarizes the production results and highlights for Q1 2012 compared to Q4 2011:

Metal production up 2% to 557,667 Ag eq oz.

Silver production up 1% to 359,526 ounces ("Ag oz").

Record gold production up 20% to 2,729 ounces ("Au oz").

Record plant silver recovery of 90.1% at Guanajuato, up from 89.1%.

Improvement of ore grades at Guanajuato to 213g/t Ag and 2.30g/t Au.

New developments on the gold-rich Santa Margarita vein at
Guanajuato yielded over 2,000 tonnes grading 8.8g/t Au at the
455 metre level and
2,000 tonnes grading 5.2g/t Au from the 470 metre level.

Secured concentrate sales contracts for planned 2012 production.

Record mining and plant throughput at Topia of 12,404 tonnes, up 3%.

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