IMPACT Silver Announces Third Quarter 2012 Financial and

IMPACT Silver Announces Third Quarter 2012 Financial and Production
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/13/12 -- IMPACT
Silver Corp. (TSX VENTURE:IPT) ("IMPACT" or "The Company") announces
the financial and production results for the third quarter ended
September 30, 2012. IMPACT currently operates three underground
silver mines within the Royal Mines of Zacualpan Silver District in
Mexico. Throughout 2012, IMPACT has also been constructing two new
mines; the Oscar Mine in the Royal Mines of Zacualpan District and
the Capire Mine in the Mamatla Mineral District. Upon beginning pilot
production at the Capire Mine in mid winter, IMPACT will have
successfully entered its next phase of significant growth potential.
Additionally, with the future commencement of production at the Oscar
Mine, IMPACT anticipates higher silver production. IMPACT continues
to maintain a strong positive net working capital balance, a robust
cash position of approximately $20 million in the treasury and no
debt. All amounts presented are in Canadian dollars. 
Third Quarter 2012 Financial and Production Highlights 

--  Revenues for the quarter were $3.2 million, a modest decrease from $3.6
    million in the second quarter of 2012. 
--  Mine operating earnings remained positive at $0.7 million for the third
    quarter, with net earnings before taxes for the quarter at $0.009
    million. Net loss after taxes was $0.4 million. 
--  Cash flows from operations before changes in non-cash working capital
    was $0.5 million in the third quarter. 
--  Net working capital for the third quarter remained strong at $26.9
    million, after spending $8.6 million on exploration and development,
    specifically the construction of the Capire and Oscar Mines. 
--  Total tonnes produced increased 12% to 44,699 from 39,813 in the second
    quarter of 2012. 
--  Silver production dipped slightly for the quarter, from 154,406 ounces
    in the second quarter of 2012 to 153,018 ounces in the third quarter of
--  Gold production during the quarter increased to 172 ounces, an 8%
    increase from the 159 ounces in the second quarter of 2012. 

Third Quarter 2012 Operational Highlights 
Production for the quarter totaled 44,699 tonnes milled and 153,018
ounces o
f silver and 172 ounces of gold produced. Direct cost per
tonne milled decreased to $61.13, a 5% decrease from the second
quarter of 2012. Revenue per tonne sold moved modestly from $95.47 in
the second quarter of 2012 to $92.66 in the third quarter of 2012,
contributing to profitable mine operating earnings of $0.7 million
for the quarter.  
Improvements to one of the plant's ball mills during the third
quarter contributed to more efficient production, resulting in a 12%
increase in throughput over the second quarter of 2012. Average mill
throughput in the third quarter was 486 tonnes per day (tpd) compared
to 438 tpd in the second quarter of 2012. 
The Capire Mine and Processing Centre 
The construction of the new Capire Mine is well advanced in the third
quarter of 2012, with first concentrate shipments anticipated this
winter. Capire represents a new production centre located in the
Mamatla Mineral District. Initial production from a 200 tpd pilot
plant will be used to optimize the metallurgy and mining methods,
with future plans to construct a larger plant. Subsequent to the end
of the third quarter, IMPACT announced additional drill results from
the open pit Capire Mine with intersections including 435 grams per
tonne silver across 4.6 meters and 507 grams per tonne silver across
2.05 meters (see IMPACT Silver News Release dated October 25, 2012).
Photographs chronicling the development of the Capire Mine and Plant
are available on the Company's website at  
The Oscar Mine 
The Oscar Mine, the fourth underground mine that IMPACT has moved
into production within 24 months of drilling the first exploration
hole, is anticipated to commence production by the end of 2012. Oscar
encompasses a corridor of high grade silver veins located 2.5
kilometers east of the Guadalupe Processing Plant. In April 2012,
IMPACT announced further drill results from Oscar including 1,875 g/t
silver across 1.00 meter and 115 g/t Silver across 23.39 meters (see
IMPACT Silver News Release dated April 2, 2012). With successful
completion of this second phase drill program, the IMPACT mine
development team has begun the process of fast tracking Oscar into
production by the end of the year to take advantage of its high grade
silver zones, while utilizing the existing mining infrastructure at
the adjacent historic Cuchara mine. 
The Valle de Oro Gold District 
During the quarter, IMPACT announced high grade gold and silver
values from the 2012 drill program at the Carlos Pacheco Gold-Silver
Project. The project is located in the Valle de Oro area, six
kilometers southwest of the Guadalupe Processing Plant. The Carlos
Pacheco zone was the first gold and copper discovery in the Valle de
Oro Gold District. On July 11, 2012, IMPACT announced further drill
results from Carlos Pacheco including 8.47 g/t gold and 1.12% copper
across 2.75 meters. Exploration by IMPACT for gold and copper will
continue here and elsewhere in the district to complement the silver
exploration, and may expand IMPACT's future production profile with
the addition of gold and copper. 
Going forward, management believes IMPACT has exceptional growth
opportunities both through continued development of the Zacualpan and
Mamatla Mineral Districts and through accretive acquisitions. 2012
has been a year of transition as the Company shifts production from
the Chivo mine to the higher grade Oscar mine and construction of the
initial phase of the new Capire Production Center is being completed
and put into pilot plant production.  
George Gorzynski, P.Eng., a Qualified Person under the meaning of
Canadian National Instrument 43-101, is responsible for the technical
content of this news release. Additional information can be found on
the Company website at The full version of the
Company's financial statements and MD&A can be viewed on the
Company's website or on SEDAR at A recorded conference
call reviewing the third quarter 2012 results will be available on
the Company's website on Thursday, November 15, 2012: 
IMPACT Silver Corp. is a silver-focused mining and exploration
company operating in Mexico. With 100% ownership of the producing
operations in the 423-square-kilometer Royal Mines of Zacualpan
Silver District and the 200-square-kilometer Mamatla Silver District
which includes Capire, IMPACT is well positioned to grow into a
multimillion ounce silver producer. IMPACT also has a 16.5%
shareholder position in Defiance Silver Corp., a silver exploration
company that is advancing IMPACT's 200 tpd mill and mineral
concessions toward production in the Zacatecas Silver District.
Additional information including photos of construction activity at
Capire can be found on the Company website at 
On behalf of the Directors of IMPACT Silver Corp., 
Frederick W. Davidson, President & CEO 
This IMPACT News Release may contain certain "forward-looking"
statements and information relating to IMPACT that is based on the
beliefs of IMPACT management, as well as assumptions made by and
information currently available to IMPACT management. Such statements
reflect the current risks, uncertainties and assumptions related to
factors including but not limited to, without limitations,
exploration and development risks, expenditure and financing
requirements, title matters, operating hazards, metal prices,
political and economic factors, competitive factors, general economic
conditions, relationships with vendors and strategic partners,
governmental regulation and supervision, seasonality, technological
change, industry practices, and one-time events. Should any one or
more risks or uncertainties materialize or change, or should any
underlying assumptions prove incorrect, actual results and
forward-looking statements may vary materially from those described
herein. IMPACT does not assume the obligation to update any
forward-looking statement. 
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. 
IMPACT Silver Corp.
Meghan Brush
Investor Relations
(604) 681 0172
(604) 681 6813 (FAX)
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