Orko Silver Corp. - News Releases - Orko Silver Provides Update on Non-Brokered Private Placement

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	September 13, 2010 Orko Silver Provides Update on Non-Brokered Private Placement
	September 13, 2010 - Orko Silver Corp (the "Company") (TSXV- OK) is pleased to provide an update on the non-brokered private placement announced on September 8, 2010. The Company intends to issue to a group of European investors, on a non-brokered private placement basis, approximately 700,000 common shares at an issue price of Cdn$1.65 per common share (the "Issue Price") for gross proceeds to the Company of Cdn$1,155,000 (the "Non-Brokered Placement"). On September 8, 2010, the Company announced that Pan American Silver Corp. ("Pan American"), the Company's joint venture partner and the operator of the La Preciosa silver development project, would participate in the Non-Brokered Placement. Pan American has indicated that they will not participate in the Non-Brokered Placement. Since forming the joint venture in mid-2009, Pan American has invested approximately $10 million in the exploration and development of La Preciosa and wants to dedicate their financial resources solely to the significant on-site and related engineering and technical work required to prepare a Preliminary Economic Assessment for the project, which is scheduled for completion in the fourth quarter of this year. The Non-Brokered Placement is being sold concurrent to a private placement announced on September 1, 2010 and increased on September 8, 2010, from Cdn$7 million to approximately Cdn$14 million. The private placement common shares are being sold at the Issue Price on a "best efforts" private placement basis, without underwriter liability, by a syndicate of agents led by GMP Securities L.P. and including Byron Securities Limited (collectively, the "Agents) The Company plans to use the net proceeds from the offering for general corporate purposes. Both the private placement and Non-Brokered Placement are scheduled to close on or about September 21, 2010 and are subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities. This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. FORWARD-LOOKING INFORMATION Certain of the statements made and information contained herein, including the use of proceeds, is "forward-looking information" within the meaning of applicable Canadian securities legislation or "forward-looking statements" within the meaning the Securities Exchange Act of 1934 of the United States. Generally, these forward-looking statements or information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described under risk factors in the Company's management discussion and analysis. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. The forward-looking information contained herein is presently for the purpose of assisting investors in understanding the Company's plans and objectives and may not be appropriate for other purposes. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Orko Silver Corp. Gary Cope President For further information, contact Orko Silver Corp. at (604) 687-6310 or via our website on line at www.orkosilver.com Neither the 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.

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