South American Silver Corp. announced that Gregory Johnson has stepped down from his role as President and Chief Executive Officer and as a director of the company effective August 13, 2012 in order to pursue other interests. The company announced that Phillip Brodie-Hall has been appointed interim President and Chief Executive Officer. Mr. Brodie-Hall has been the company's Chief Operating Officer since November 2011, before which he was a key member of the project development team on a consulting basis.

In Chile, the company will expand activities at the Escalones copper-gold project and in Bolivia the company is aggressively pursuing all options to maximize the value from the Malku Khota project. The company has several essential components that position it well for the future including experienced leadership, a strong balance sheet and proprietary acid chloride leach technology that gives it a competitive advantage for developing bulk mineable deposits that contain both precious and base metals as well as indium and gallium. The company has the opportunity in the period ahead to also look at other projects in a market that is very challenging for many companies to raise capital.