July 11, 2012 at 17:55 PM EDT
IMPACT Silver Intersects 8.47g/t Gold and 1.12% Copper across 2.75m on the Carlos Pacheco Vein at Zacualpan, Mexico

For Release: July 11, 2012Trading Symbol: "IPT: TSX.V"

IMPACT Silver Corp ("IMPACT") is pleased to announce 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 IMPACT's operating mill at Zacualpan, central Mexico. Fieldwork in the Carlos Pacheco area began in 2007 with a systematic mapping and rock sampling program followed by an initial drill program that cut high grade gold intersections of up to 19.6 grams per tonne (g/t) gold across 2.9 meters (m) including 49.7 g/t gold across 1.0 m (see IMPACT News Releases dated January 18, 2007 and December 4, 2008).

The exploration drilling from the 2008 program discovered the now-producing Noche Buena Silver Mine, which is a parallel vein located 200 meters west of the Carlos Pacheco Vein (see IMPACT News Release dated December 7, 2009). Both the Noche Buena and Carlos Pacheco Veins have strike lengths in excess of eight kilometers with numerous zones of enriched metal content, as outlined by regional mapping and prospecting. To date drilling has tested 500 meters of strike length on these veins. This current drill program was focused at depths of 120 to 250 meters, which were below an inclined shaft on the Carlos Pacheco Vein that IMPACT's mining group recently re-opened and sampled. This work indicated good continuity to the gold-copper grades for the Carlos Pacheco Vein and provided the impetus for this current drill program. Highlights from recent drilling on the Carlos Pacheco Vein are as follows:

CARLOS PACHECO VEIN DRILL RESULTS - HIGHLIGHTS

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

|DRILL HOLE|SECTION|FROM |TO |INTERVAL|Au |Ag |Cu |

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

|  |  |(m) |(m) |(m) |(g/t)|(g/t)| (%)|

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

|Z12-13 |12+50 N|192.30|199.00|6.70 |3.84 |28 |0.54|

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

|including |  |192.30|195.05|2.75 |8.47 |56 |1.12|

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

|Z12-17 |12+75 N|198.25|200.99|2.74 |1.83 |56 |0.54|

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

|Z12-21 |12+25 N|190.65|195.3 |4.65 |0.96 |43 |0.60|

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

|including |  |190.65|191 |0.35 |0.53 |265 |5.12|

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

|Z12-23 |12+25 N|229.85|230.95|1.10 |3.82 |84 |0.54|

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

|Z12-27 |13+50 N|156.65|158.6 |1.95 |0.84 |88 |1.52|

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

|including |  |156.65|157.4 |0.75 |0.67 |204 |3.47|

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

In addition to the gold-copper mineralization in the Carlos Pacheco Vein, other drill holes intersected silver-lead-zinc mineralization in the Intermediate Veins. The Intermediate Veins are a newly discovered vein cluster located midway between the Carlos Pacheco and Noche Buena Veins, which include numerous wider and lower grade intersections in addition to those reported in the table below.

INTERMEDIATE VEINS DRILL RESULTS - HIGHLIGHTS

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

|DRILL |SECTION|FROM |TO |INTERVAL|Ag |Au |Cu |Pb |Zn |

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

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

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

|Z12-11 |12+50 N|113.65|114.70|1.05 |159 |0.29 |0.01|0.15|0.27 |

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

|Z12-16 |12+50 N|100.00|114.30|14.30 |82 |0.04 |0.01|0.09|0.19 |

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

|including|  |100.00|106.50|6.50 |119 |0.06 |0.01|0.06|0.14 |

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

|including|  |101.45|101.95|0.50 |560 |0.16 |0.01|0.03|0.07 |

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

|Z12-18 |12+75 N|57.00 |59.00 |2.00 |337 |0.20 |0.01|0.23|0.43 |

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

|including|  |58.45 |59.00 |0.55 |1,010|0.61 |0.02|0.64|1.19 |

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

|and |  |205.60|213.60|8.00 |23 |2.09 |0.25|0.02|0.03 |

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

|including|  |212.15|213.60|1.45 |29 |9.67 |0.29|0.03|0.03 |

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

|Z12-19 |12+75 N|74.90 |75.10 |0.20 |858 |0.64 |0.05|7.57|10.10|

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

|Z12-20 |12+75 N|28.20 |63.85 |35.65 |50 |0.05 |0.01|0.13|0.23 |

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

|and |  |149.50|152.75|3.25 |153 |0.33 |0.01|0.24|0.69 |

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

|including|  |151.30|152.75|1.45 |319 |0.69 |0.02|0.41|1.32 |

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

|and |  |174.00|174.55|0.55 |97 |0.91 |0.17|0.36|16.45|

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

|Z12-23 |12+25 N|26.10 |28.10 |2.00 |207 |0.22 |0.01|0.10|0.15 |

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

|and |  |84.75 |90.40 |5.65 |75 |0.09 |0.01|0.05|0.14 |

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

Any anticipated mining operations at Carlos Pacheco will probably be accessed with a crosscut from the workings of the operating Noche Buena Mine, providing low cost mine access to the Intermediate Veins. Additional drilling of the Intermediate Veins will likely be done from the underground workings of the Noche Buena Silver Mine to better delineate their geometry and continuity. The work of IMPACT's exploration team for this portion of the Carlos Pacheco and Intermediate Veins is now complete and the data has been passed to the mine planning group for engineering studies and potential production.

Context of Gold and Copper Mineralization

IMPACT operates four silver mines (San Ramon, Chivo, Noche Buena and Gallega) in the Royal Mines of Zacualpan District. Zones of high grade gold and copper mineralization have been observed in the deeper parts of some of the mines and in deep valleys such as the Carlos Pacheco area. These results provide additional validity to the concept of gold-copper mineralization lying at depth below the silver mineralization of the Zacualpan District indicating gold-copper potential for this historic silver district. Work by IMPACT's exploration team for gold and copper mineralization will continue here and elsewhere in the district to complement the silver exploration, and may bring an expanded mix with the addition of gold and copper to IMPACT's future production profile.

Brian Hall, P. Geo., Nigel Hulme, P. Geo. and Wojtek Jakubowski, 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 precious metal mining and exploration company operating in central Mexico, with a producing silver operation at the 423-square-kilometer Royal Mines of Zacualpan Silver District, which includes the Carlos Pacheco area; the adjoining 200-square-kilometer Mamatla VMS District, which includes the Capire Mine Development Project now under construction; and a 16.5% 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 of IMPACT Silver Corp.,

"Frederick W. Davidson"

President & CEO

For more information, please contact Meghan Brush, Investor Relations at (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 StreetTelephone 604 681-0172

Vancouver, BC, Canada V6C 1X8Facsimile 604 681-6813

www.IMPACTSilver.com inquiries@IMPACTSilver.com

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