April 23, 2012 at 18:36 PM EDT
IMPACT Silver Intersects 1,875 g/t Silver across 1.00 meters and 115 g/t Silver across 23.39 meters at the Oscar Vein Corridor in Mexico

IMPACT Silver Corp. ("IMPACT") is pleased to announce

additional high grade silver values and wide zones of mineralization

from the second phase drill program on the Oscar Project. Highlights

include 1,875 g/t Silver across 1.00 meters and 115 g/t Silver across

23.39 meters. Oscar is located only 2.5 kilometers east of IMPACT'S

operating 500-tonne-per-day ("tpd") Guadalupe processing

plant in the 423 square kilometer Royal Mines of Zacualpan District of

central Mexico. These results are in addition to previously announced

results from the Oscar Project, which included multiple intersections

over 1,000 g/t Silver (see IMPACT News Releases dated October 20 and

26, 2011).

Highlights from this second phase drill program are as follows:

OSCAR VEIN CORRIDOR DRILL RESULTS

---------------------------------------------------------------------

|DRILL |SECTION|FROM (m)|TO (m)|INTERVAL|Silver|Gold |Lead |Zinc |

|HOLE | | | | |(g/t) |(g/t)|(%) |(%) |

|-------------------------------------------------------------------|

|  |  |  |  |  |  |  |  |  |

|-------------------------------------------------------------------|

|Z11-55 |19+50N |21.80 |22.85 |1.05 |435 |0.01 |0.15 |0.24 |

|-------------------------------------------------------------------|

|Z11-61 |19+50N |256.20 |257.16|0.96 |216 |1.71 |11.03|19.73|

|-------------------------------------------------------------------|

|Z11-64 |20+00N |36.60 |43.20 |6.60 |223 |0.08 |0.18 |0.52 |

|-------------------------------------------------------------------|

|including|  |36.60 |37.40 |0.80 |1,270 |0.23 |0.86 |1.66 |

|-------------------------------------------------------------------|

|and |  |137.25 |138.25|1.00 |468 |0.13 |1.67 |1.28 |

|-------------------------------------------------------------------|

|Z11-69 |20+00N |0.70 |3.35 |2.65 |408 |0.62 |0.73 |1.12 |

|-------------------------------------------------------------------|

|and |  |71.05 |72.10 |1.05 |536 |0.17 |1.67 |3.20 |

|-------------------------------------------------------------------|

|Z11-71 |20+00N |97.60 |98.60 |1.00 |234 |0.74 |11.25|13.55|

|-------------------------------------------------------------------|

|Z11-74 |20+50N |21.35 |22.35 |1.00 |1,875 |0.74 |2.65 |6.88 |

|-------------------------------------------------------------------|

|and |  |90.00 |91.24 |1.24 |835 |0.12 |1.28 |1.78 |

|-------------------------------------------------------------------|

|Z11-76 |20+50N |42.53 |56.45 |13.92 |80 |0.98 |1.03 |1.44 |

|-------------------------------------------------------------------|

|including|  |42.53 |44.24 |1.71 |220 |0.41 |1.76 |1.57 |

|-------------------------------------------------------------------|

|including|  |46.79 |48.29 |1.50 |299 |0.35 |3.22 |5.72 |

|-------------------------------------------------------------------|

|including|  |53.96 |56.45 |2.49 |71 |4.79 |1.84 |1.66 |

|-------------------------------------------------------------------|

|Z11-78 |20+50N |102.15 |103.70|1.55 |250 |0.02 |0.01 |0.03 |

|-------------------------------------------------------------------|

|Z12-05 |17+00N |92.50 |97.60 |5.10 |234 |0.05 |0.14 |0.49 |

|-------------------------------------------------------------------|

|including|  |95.55 |96.55 |1.00 |444 |0.12 |0.26 |0.92 |

|-------------------------------------------------------------------|

|Z12-06 |18+00N |86.25 |87.15 |0.90 |564 |0.01 |0.16 |1.22 |

|-------------------------------------------------------------------|

|Z12-08 |19+00N |45.75 |23.39 |23.39 |115 |0.02 |0.12 |0.36 |

|-------------------------------------------------------------------|

|including|  |22.36 |23.85 |1.49 |510 |0.06 |0.36 |1.27 |

|-------------------------------------------------------------------|

|including|  |44.50 |45.75 |1.25 |297 |0.08 |0.36 |0.87 |

|-------------------------------------------------------------------|

|Z12-09 |19+00N |118.15 |121.15|3.00 |272 |0.20 |0.90 |2.44 |

|-------------------------------------------------------------------|

|Z12-12 |18+50N |153.45 |153.95|0.50 |346 |0.03 |0.242|0.88 |

---------------------------------------------------------------------

The data from this drilling and earlier drilling in the Oscar area

(see IMPACT News Releases dated October 20 and 26, 2011) are now being

interpreted to estimate vein orientations and true widths for the

drill intersections which cut multiple veins in the Oscar Vein

Corridor.

These Oscar drill results are from multiple veins in a wide vein

corridor (Oscar Vein Corridor) located on the southern extensions of

the large Cuchara Mine, a former producer that last operated in 2004.

This second phase of drilling was designed to expand the Oscar Vein

Corridor to the north and connect it with the Cuchara Mine workings,

as well as better define zones of silver mineralization intersected in

the first phase drill program. With completion of this second phase

drill program, the data will be interpreted and handed over to the

IMPACT mine development team to complete their study of the viability

of mine production in the combined Oscar-Santa Lucia area. Should

these studies prove successful, the Oscar and Santa Lucia areas will

be fast tracked into production as a source of high grade silver mill

feed. Mining will utilize the existing infrastructure of the Cuchara

Mine which includes a nearby modern mine access ramp located close to

the drill intersections reported here. This pre-existing nearby

mining infrastructure its relative position at elevations below the

Oscar and Santa Lucia drill intersections, and the short transport

distance to the Guadalupe processing plant should result in a low cost

structure for potential mining operations in this area.

Brian Hall, P. Geo. and Nigel Hulme, P. Geo., Qualified Persons under

the meaning of Canadian National Instrument 43-101, are responsible

for the technical content of this news release.

IMPACT Silver Corp. is a silver focused mining and exploration company

operating in Mexico with a producing silver operation at the

423-square-kilometer Royal Mines of Zacualpan Silver District, the

200-square-kilometer advanced Mamatla Silver District including the

Capire Mine Development Project, and a 16.6% shareholding in Defiance

Silver Corp., who are advancing IMPACT's 200-tpd mill and mineral

concessions in the Zacatecas Silver District. Additional information

can be found on the Company website at www.IMPACTSilver.com.

On behalf of the Directors IMPACT Silver Corp.,

"Frederick W. Davidson"

President & CEO

For further information, please contact:

Meghan Brush, Investor Relations

(604) 681 0172 or inquiries@impactsilver.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.

Forward-Looking Statements

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 certain 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.

1100-543 Granville StreetTelephone604 681-0172

Vancouver, BC, Canada V6C 1X8Facsimile604 681-6813

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