News Releases

October 17, 2011: Vancouver, B.C.: Argentum Silver Corp. ("Argentum" or the "Company") announces that exploration programs are continuing at the Company's 1,053 hectare Coyote Project, located in the state of Jalisco, Mexico. Argentum holds an option to acquire 100% of the Coyote and Victoria projects from Soltoro Ltd., as detailed in the Company's news release dated April 26, 2011. The Coyote project is the current focus of Argentum's exploration efforts, the results of which will be used to identify drill targets for the next phase of exploration. A first phase of geologic mapping, assaying and preliminary geophysical work has now been completed.

The Coyote project controls the historic San Miguel de la Sierra mining district, which contains dozens of silver-gold veins and stockwork deposits. Most of the mineralization occurs within seven defined zones of mineralization within an area of approximately 1.5 x 2.6 kilometres. Over one hundred historic mines and prospects were explored and partially developed within the district through the early 1900's. Production was limited due to high water table levels where mining to date has been focused on "bonanza" grade veins. Mineralization is characterized as epithermal low sulfidation type, and occurs in Upper Cretaceous andesite volcanics. Vein widths typically range from 1 to over 5 metres, with local zones of stockworking exceeding 35 metres. Several individual veins have been mapped over strike lengths exceeding 1,000 metres.

The Coyote project is located near the town of Chilicoyotes, within the state of Jalisco, Mexico. Access and infrastructure are excellent. The property is approximately 150 linear kilometers (a 3.5 hour drive) southwest of the capital city of Guadalajara.. Topography is generally flat to moderate. Elevations range from about 1800 to 2200 meters. Road access within the project is excellent, afforded by dozens of ranch and logging roads. A regional electrical power line crosses the property.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Jim Robinson, the Company's Senior Geological Consultant and Advisor and a Qualified Person under NI 43-101.

About Argentum Silver
Argentum holds the right to acquire a 100% interest in the Lachiguiri, Silacayoapan and Nino Perdido properties, all located in Oaxaca, Mexico, under an option agreement with Arco Resources Corp. Argentum also has an option to earn a 100% interest from Soltoro Ltd. in the Victoria and Coyote silver-gold projects located in Jalisco, Mexico. For further information, please go to www.argentumsilvercorp.com.

On behalf of the Board of Directors of Argentum Silver Corp.
"Warren McIntyre"
Warren McIntyre
President and Chief Executive Officer
Argentum Silver Corp.
For further information:

Ian Tootill, Director of Investor Relations
Phone: 604.661.2110
Email: ian@argentumsilvercorp.com
www.argentumsilvercorp.com

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.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Argentum relies upon litigation protection for forward-looking statements.