November 26, 2012 at 14:49 PM EST
IMPACT Silver Discovers Wide Silver Veins in First Drill Holes at Mirasol in Zacualpan, Mexico; Intersections include 7.1 meters grading 216 grams per tonne Silver

IMPACT Silver Corp. ("IMPACT") is pleased to provide results from the first drill holes in the newly discovered Mirasol prospect, located 5.5 kilometers southeast of IMPACT'S 500-tpd (tonne per day) Guadalupe processing plant at the Royal Mines of Zacualpan Silver-Gold District in central Mexico.

In keeping with IMPACT's policy of exploring the Zacualpan District in a balanced and systematic manner, the Mirasol area was chosen for exploratory drilling by virtue of having high grades (up to 1,805 g/t silver, 1.52% zinc, and 3.55% lead in underground workings), hosted by a well-defined 1.1 kilometer long structure, in which the soil geochemistry and geological mapping indicated a good degree of continuity. These first drill holes at Mirasol intersected wide zones of silver mineralization to the east of and beyond IMPACT's previous areas of drilling, and have thus opened a new sector for exploration.

Summarized below are the significant intersections from this first phase of drilling:

MIRASOL SIGNIFICANT INTERSECTIONS - FIRST PHASE DRILL PROGRAM 2012

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

|HOLE |DRILL |ZONE |VEIN |FROM |TO |INTERVAL|TRUE |SILVER |GOLD |LEAD|ZINC|

|NUMBER |SECTION| |NAME |meters|meters|meters |WIDTH | g/t |g/t |% |% |

| | | | | | | |meters| | | | |

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

|Z12-69 |L03+50 |Mirasol|Mirasol |98.6 |110.9 |12.26 |12.25 |112.0 |0.130|0.18|0.43|

| |S |Central| | | | | | | | | |

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

|including|L03+50 |Mirasol|Mirasol |101.2 |103.1 |1.95 |1.95 |352.0 |0.410|0.74|1.84|

| |S |Central|Arriba I | | | | | | | | |

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

|including|L03+50 |Mirasol|Mirasol |107.7 |110.9 |3.18 |3.18 |143.0 |0.100|0.07|0.19|

| |S |Central|Abajo | | | | | | | | |

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

|Z12-70 |L03+50 |Mirasol|Mirasol |120.1 |128.2 |8.13 |7.48 |78.0 |0.060|0.09|0.37|

| |S |Central| | | | | | | | | |

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

|including|L03+50 |Mirasol|Mirasol |125.3 |128.2 |2.88 |2.65 |146.0 |0.140|0.16|0.75|

| |S |Central|Abajo | | | | | | | | |

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

|Z12-71 |L03+00 |Mirasol|Mirasol |73.9 |82.9 |8.98 |8.94 |183.0 |0.030|0.07|0.14|

| |S |Central| | | | | | | | | |

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

|including|L03+00 |Mirasol|Mirasol |75.2 |82.4 |7.15 |7.15 |216.0 |0.040|0.08|0.16|

| |S |Central|Arriba I | | | | | | | | |

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

|including|L03+00 |Mirasol|Mirasol |75.2 |77.5 |2.30 |2.30 |376.0 |0.040|0.10|0.12|

| |S |Central|Arriba I | | | | | | | | |

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

|including|L03+00 |Mirasol|Mirasol |81.0 |82.4 |1.35 |1.35 |447.0 |0.130|0.16|0.35|

| |S |Central|Abajo | | | | | | | | |

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

|Z12-72 |L03+00 |Mirasol|Mirasol |92.0 |93.1 |1.10 |1.02 |123.0 |0.020|0.05|0.01|

| |S |Central|Arriba II | | | | | | | | |

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

|and |L03+00 |Mirasol|Mirasol |101.2 |103.1 |1.90 |1.76 |94.5 |0.030|0.04|0.13|

| |S |Central|Abajo | | | | | | | | |

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

|including|L03+00 |Mirasol|Mirasol |102.5 |103.1 |0.55 |0.51 |287.0 |0.030|0.04|0.03|

| |S |Central|Abajo | | | | | | | | |

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

|Z12-76 |L00+50 |Mirasol|La |228.2 |229.92|1.72 |1.58 |335.2 |0.048|0.20|0.22|

| |N |NW |Colmena I | | | | | | | | |

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

|Z12-77 |L03+50 |Mirasol|Deschuesado|231.75|233.35|1.60 |1.38 |210.3 |0.010|0.10|0.63|

| |S |Central|A | | | | | | | | |

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

|and |L03+50 |Mirasol|Deschuesado|247.05|251.8 |4.75 |3.89 |118.2 |0.022|0.13|0.31|

| |S |Central|B | | | | | | | | |

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

|including|L03+50 |Mirasol|Deschuesado|247.05|247.45|0.40 |0.32 |1,065.0|0.160|0.98|2.03|

| |S |Central|B | | | | | | | | |

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

|Z12-78 |L04+00 |Mirasol|Mirasol |70.05 |71.54 |1.49 |TBD |220.0 |0.480|0.68|0.93|

| |S |Central| | | | | | | | | |

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

To date, three principal target areas have been defined in the Mirasol area: Northwest, Central and Southeast. The Northwest and Central Zones contain a number of old underground workings within a large area of anomalous soil geochemistry for silver-gold-lead-zinc. The Southeast Zone is represented by a less prominent soil geochemistry anomaly and one small underground working (with a silver value of 362 g/t); initial drill holes in the Southeast Zone returned low values but the zone will be further evaluated. Discussions with elder inhabitants of the Mirasol area indicate that their grandfathers worked at the Mirasol (circa late 1800's), and since that time there has been no work until IMPACT's prospectors rediscovered this otherwise lost area.

The principal veins of the Mirasol area represent a shear zone in which the veins strike northwesterly and dip to the southwest. They include the Mirasol Veins (Abajo and Arriba), which dip moderately (35-50 degrees) and the steeper dipping La Colima I, and Deschuesado A and B Veins. To date all of these veins have contributed significant wide intersections which substantially impact the tonnage potential of this area.

Future Plans for the Mirasol Prospect

Drilling is ongoing at Mirasol, with the principal focus being the Central Zone where the mineralization remains open to expansion at depth and along strike in both directions. Additional drill pads have also been constructed for the Mirasol Northwest drilling area, where hole Z12-76 encountered silver grades at depth (335.2 g/t over 1.58 meters) and the mineralization is open to expansion at depth and along strike in both directions.

Brian Hall, M.Sc., 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-Gold District which includes the Mirasol, and the adjoining 200-square-kilometer Mamatla VMS District which includes the advanced Capire Mine Development Project, plus 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 including a drill hole location map for the Mirasol area can be found on the Company website at www.IMPACTSilver.com.

On behalf of IMPACT Silver Corp.

"Frederick W. Davidson"

President & CEO

For more information, please contact:

Meghan Brush

Investor Relations

(604) 681 0172 or via email at 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

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