South American Silver Corp.’s Announces Annual Gene ral Meeting and Changes in Board of Directors Trading Symbols: TSX: SAC, US

FOR IMMEDIATE RELEASE: 10-06

South American Silver Corp.’s Announces Annual General Meeting and Changes in Board of Directors

Trading Symbols: TSX: SAC, US OTC: SOHAF

June 4, 2010

South American Silver Corp. invites interested investors and shareholders to attend its Annual and Special meeting of shareholders to be held on Tuesday, June 8, 2010 in Toronto at 4:00 PM (Toronto time) at the National Club. Shareholders are reminded that proxy votes must be submitted by 5:00 pm (Toronto time) Friday June 4. 2010 to be counted. A corporate and project update presentation will be given following the formal meeting of shareholders by Greg Johnson, President and CEO of South American Silver Corp.

Management’s eight nominees for election as director will be comprised of Ralph Fitch, Greg Johnson, Antonio Canton, Peter Harris, Paul Haber, Bill Murray, John Watson and Tina Woodside. Mr. Antonio Canton and Mr. Peter Harris are both new board nominees this year.

Mr. Canton is an independent consultant for international companies in marketing, finance and real estate. He is a director of a number of Swiss companies and brings to the board extensive experience in accounting and finance.

Mr. Peter Harris an engineer with over 40 years of mining industry experience including as former Senior VP and Chief Operating Officer at NovaGold Resources Inc., and Senior VP of Project Development at Placer Dome Inc. Mr. Harris has been involved in the construction and operation of numerous mines in North and South America, Africa, Australia and Papua New Guinea and brings extensive mine development, construction and operations experience to the Company.

Mr. John Paul resigned as a director of the Company on June 4, 2010 to allow for Mr. Antonio Canton to be appointed as of that date. Mr. Paul will remain an advisor to the board of directors in the areas of corporate social responsibility and sustainable development, particularly as they relate to the continuing development of the Company’s Malku Khota property located in Bolivia.

Ralph Fitch, Executive Chairman of the Company, stated “We want to thank John for his contributions to the Company to date and look forward to continuing to work with John in the areas of corporate social responsibility and sustainable development. John joined the board at the time of our IPO in February 2007 and has been an important part of our development to date. We also wish to welcome Antonio Canton and Peter Harris to the board and look forward to working with them as the Company continues to aggressively explore and develop its Malku Khota Silver and Indium project in Bolivia and Escalones Copper and Gold project in Chile.”

About South American Silver Corp.

South American Silver Corp. is a growth focused mineral exploration company creating value through the exploration and development of the 100% owned Malku Khota Silver-Indium project in Bolivia, one of the world’s largest undeveloped silver and indium deposits, and the 100% owned large-scale Escalones Copper-Gold project in Chile. The Company’s approach to business combines the team’s track record of world-class discoveries and successful project development and integrates strong community relations and corporate social responsibility. Management has over 100 years of combined experience in the global exploration and mining industry with much of that focused in Bolivia, Chile, Peru and Argentina. The Company’s shares are listed on the Toronto Stock Exchange under the symbol “SAC” and on the US OTC market as “SOHAF”. Additional information related to South American Silver Corp. is available at

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www.soamsilver.com and on SEDAR at www.sedar.com

South American Silver Corp. Contacts:

Greg Johnson President & CEO

Richard Doran Executive Vice President

Phone: 303-584-0606

www.soamsilver.com